RULING OF THE COURT
The present application has been brought under Rule 5(2)(b) of our Rules for stay of the execution of the judgment of the High Court (Khamoni, J.) whereby, the Applicant, one of the largest, if not the largest, industrial enterprise in the country, was ordered to pay the Respondent, who had been an "Executive Employee" of the Applicant, namely, its Group Managing Director, his remaining unpaid early retirement benefits to the tune of Kshs.17,033,165/-. According to the Respondent, what was due to him upon his early retirement from the employment of the Applicant, under the Applicant's early retirement scheme, as one of the:
"Executive Employees whose offers to determine their employment contracts are accepted", and whose offer for the determination of his employment contract had been so accepted by the Chairman of the Applicant, was Kshs.31,546,745/- out of which, the Applicant had only paid Kshs.14,513,580/- (less taxes), on the wrongful assumption that the Responde…