RULING OF THE COURT
Although the pleadings are not part of the record before us, on perusal of the Judgment in the record and other documents enclosed, it is apparent that Trust Bank Limited , 1st respondent in this notice of motion dated and filed on 24th June, 2010, sued Paramount Universal Bank Limited, the applicant herein and two others namely Ajay Shah and Praful Shah, the 2nd and 3rd respondents respectively, in the superior court seeking recovery of Kshs3,627,922.50 on grounds that the 2nd and 3rd respondents who were directors of Trust Bank Limited, at the relevant time, fraudulently caused a run on Trust Bank by siphoning money out of it before its closure knowing fully well that Trust Bank was about to be closed by Central Bank. This was done by use of seven cheques which were drawn in favour of the applicant (Paramount Universal Bank Limited). The applicant, 2nd and 3rd respondents denied the allegations, but after full hearing, the learned Judge of the superior court (Lesi…