RULING OF THE COURT
In an application by way of notice of motion dated 11th June 2007 and filed in Court on 18th June 2007, the applicants, Surjit Singh and Malkiat Singh (applicants) are seeking an order that pending the filing, hearing and determination of an intended appeal against the ruling and order of the superior court (O.K. Mutungi J.) dated 30th November, 2006 but delivered on the 11th December 2006, in Milimani Commercial Court Civil Case No. 500 of 2001, there be a stay of execution of the judgment dated 22nd November 2004 on grounds:
“(a) That the applicant being aggrieved by the said decision has filed a notice of appeal to the Court of Appeal.
(b) That the intended appeal is not frivolous as it raises arguable issues.
(c) That unless this application is granted the outcome of the intended appeal is likely to be rendered nugatory in the event that the appeal succeeds.”
The respondent, Caltex Oil (Kenya) Limited (respondent) opposed the application and vide its lengthy affidav…