kibo corridor ltd vs ravji investment co ltd 2023 tzca 17432 20 july 2023

The applicant filed within the prescribed time, demonstrated risk of substantial loss, and provided a firm undertaking to furnish security. The Court exercised discretion to accept furniture and hotel equipment as security and ordered an additional bank guarantee.

Citation: kibo corridor ltd vs ravji investment co ltd 2023 tzca 17432 20 july 2023
Parties: Applicant: Kibo Corridor Ltd; Respondent: Ravji Investment Co. Ltd
Court: TZCA
Jurisdiction: Tanzania
Judgment Date: 20 July 2023
Procedural Posture: Civil Application / Ruling on Application for Stay of Execution Pending Appeal
Outcome: Application granted
Legal Topics: Stay of Execution, Security for Due Performance, Lease Disputes, Rent Arrears
Source Language: English

Civil Procedure Land Law Stay of Execution Security for Due Performance Lease Disputes Rent Arrears

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Full judgment text Downloadable case file Legal principles 3 Authorities cited 8 Party arguments 2 Amounts and remedies 5

Parties

Kibo Corridor Ltd

Applicant

Ravji Investment Co. Ltd

Respondent

Procedural Posture

Civil Application / Ruling on Application for Stay of Execution Pending Appeal

Legal Issues

1 Whether the application for stay of execution was filed within the prescribed time
2 Whether the applicant will suffer substantial loss if execution proceeds
3 Whether the applicant has furnished adequate security for due performance of the decree

Ratio Decidendi

Court Disposition

Application granted

Orders

Stay of execution of Land Case No. 9 of 2017 pending appeal
Applicant to deposit a Bank Guarantee of TZS 40,000,000.00 within thirty days in addition to furniture installed in the premises as security