[2024] KEHC 11476 (KLR)

[2024] KEHC 11476 (KLR)

The court found that the applicant had demonstrated sufficient cause for the delay in registering the supplemental legal charge and that no prejudice would be occasioned to the respondent by granting the extension. Exercising its discretion under Section 888 of the Companies Act 2015, the court allowed the...

Source-derived case information.

Citation
[2024] KEHC 11476 (KLR)
Parties
Applicant: I & M Bank Ltd; Respondent: Jumbo Steel Mills Ltd
Court
High Court
Court Station
High Court at Kisumu
Jurisdiction
Kenya
Case Number
Miscellaneous Civil Case E336 of 2024
Procedural Posture
Miscellaneous Application / Ruling on Notice of Motion for Extension of Time
Outcome
application allowed
Judges
MS Shariff
Legal Topics
Company Charge Registration, Extension of Time, Companies Act Procedure
Source Language
en
Commercial and Corporate Company Charge Registration Extension of Time Companies Act Procedure

Source-derived case record

Summary, issues, holding and outcome

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Parties

I & M Bank Ltd

Applicant

Jumbo Steel Mills Ltd

Respondent

Procedural Posture

Miscellaneous Application / Ruling on Notice of Motion for Extension of Time

Legal Issues

  1. 1 Whether the applicant should be granted an extension of time to register a supplemental legal charge under Section 888 of the Companies Act 2015.

Ratio Decidendi

The court found that the applicant had demonstrated sufficient cause for the delay in registering the supplemental legal charge and that no prejudice would be occasioned to the respondent by granting the extension. Exercising its discretion under Section 888 of the Companies Act 2015, the court allowed the application and extended the time for registration by 30 days from the date of the ruling.

Court Disposition

application allowed

Orders

  • The applicant's time for registration of the supplemental 1st legal charge dated 11.7.2024 created in favour of I & M Bank Limited by Jumbo Steel Mills Limited is hereby extended for a period of 30 days from the date hereof.
  • This file is marked as closed.