i m bank t ltd vs mustafas 2005 ltd 2 others 2022 tzhccomd 129 13 may 2022

The suit is not time barred because the limitation period excludes time spent prosecuting related cases and leave was granted to sue for omitted reliefs; res judicata does not apply due to the leave granted.

Citation: i m bank t ltd vs mustafas 2005 ltd 2 others 2022 tzhccomd 129 13 may 2022
Parties: Plaintiff: I&M Bank (T) Ltd; 1st Defendant: Mustafa's (2005) Ltd; 2nd Defendant: Salim M. Rattansi; 3rd Defendant: Keval Solanki
Court: TZHCCOMD
Jurisdiction: Tanzania
Judgment Date: 13 May 2022
Procedural Posture: Commercial Case / Ruling on Preliminary Objections
Outcome: Preliminary objections dismissed with costs; suit to proceed to hearing.
Legal Topics: Limitation of Actions, Res Judicata, Loan Recovery, Promissory Notes
Source Language: English

Civil Procedure Contract Law Banking Law Limitation of Actions Res Judicata Loan Recovery Promissory Notes

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Parties

I&M Bank (T) Ltd

Plaintiff

Mustafa's (2005) Ltd

1st Defendant

Salim M. Rattansi

2nd Defendant

Keval Solanki

3rd Defendant

Procedural Posture

Commercial Case / Ruling on Preliminary Objections

Legal Issues

1 Whether the suit is time barred under the Law of Limitation Act
2 Whether the suit is barred by res judicata

Ratio Decidendi

Court Disposition

Preliminary objections dismissed with costs; suit to proceed to hearing.

Orders

Two preliminary objections dismissed with costs.
Suit to proceed to next stage of hearing.