nas hauliers limited 2others vs equity bank t limited another 2022 tzhccomd 175 13 may 2022

IN THE HIGH COURT OF THE UNITED REPUBLIC OF TANZANIA (COMMERCIAL DIVISION) AT PAR ES SALAAM MISC. COMMERCIAL APPL. NO. 174 OF 2021 (Arising from Commercial Case No. 105 of 2021) "\\ A NAS HAULERS LIMITED.................. kvl^APRIiTCANT EVEREST FREIGHT LIMITED.... X.../21/'APPLICANT TANGA PETROLEUM COMPANY<LTdXs^ APPLICANT VERSUS^. EQUITY BANK TANZANIA, LIMITED....Is1 RESPONDENT EQUITY BANK<KENYA LTD...Z?........ 2nd RESPONDENT Date of Last Order:'12/04/^022 Date of final .ruling: 13/05/2022 X X / ' ~ < RULING NANGELA, J:. \\ v The Applicants herein brought an application before this Court under a certificate of urgency. Their Application is brought under Order XXXVII, Rule 2 (2), section 68 (e) and section 95 of Cap. 33 R.E 2019. The same was brought by way of a chamber summons supported by an affidavit of Mr Ally Ahmed Said, a Director of the 1st, 2nd and 3rd Applicants Page 1 of 5 herein. The Applicants are praying for the following orders inter-partes. (a) That, this honourable court be pleased to make an interim order to restrain the Respondents or their agents, servants, or whomsoever will be acting under their instructions or authority, from selling any collateral and from talking any step towards recoveringy \Z<\ z a sum of USD ($) 18^0,7^7.00 and any interest^ andx p.erialties z \\ \\ therefrom, from \th^ "Applicants, resulting from the banking facility dated ;22nd May 2019, pending hearihg andTfnapdetermination of the^ommerciat case No. 105 of <Z>z 2 \;(b^Costs aJthis Application be provided Z\ x \for by the Respondents. \(c) Any other orders as this VZ“ZZ honourable Court deems just and fir to grant. Initially, the Applicants had included an ex-parte prayer for maintenance of status quo pending the hearing and determination of this application. The ex- parte prayer was unopposed and, hence, granted on the 23rd November 2021 as the Defendants undertook Page 2 of 5 not to take any step in respect of the properties which are the subject of litigation in the Commercial Case No.105 of 2017. In that main case, the Defendant had filed a WSD and raised a preliminary objection challenging the jurisdiction of this Court. On the 24th march 2022 this Court overruled the objection. As such, on the 11th April 2022 the parties appeared before me. \ v \ -f Whereas Mr Frank Mwalongo appeared.^ for/ the Applicants herein, Mr Timon.,Vitalis\appearedfor the Respondents. /> In his submission^before thi§> Court, Mr Vitalis informed the Court that;/the Respondents were not /< \\ " f inclined to objects prayers by the Applicants ^ this Application for temporary injunction. However,. to protect the interest of both parties, Mr f' V\\ \x Vitalis urged^this'Court to grant an order to the effect that, the status quo be maintained, and, neither party nor their agents should sale or dispose of or temper with the securities whose details are set out in "Section B-3 of the Facility Agreement" marked as "Annexure NAS-1" to the Applicants' Affidavit. He also prayed that each party bear its own costs of this application. Page 3 of 5 For his part, Mr Mwalongo did not object to the prayers by Mr Vitalis. He also withdrew from the Court, the Applicants7 prayers for costs. Given that fact, this Court settles for the following orders: (a) That, the current application is here by granted. (b)The Respondents or their agents, servants, or whomsoever . yvi 11 be\, acting under their instructions'" of authority, are / restrained from Z> \ selling any Collaterals and from talking any step towards recovering asumof USD($)18,710,737.00 /<^''xand\any interest and penalties z / ptherefrom, from the Applicants, \ -z X resulting from the banking facility J J dated 22nd May 2019, pending hearing and final determination of the Commercial case No. 105 of 2021. (c) That, equally both parties are hereby ordered to ensure that, the status quo is strictly maintained, Page 4 of 5 and, neither party nor their agents should sale or dispose of or temper with the securities whose details are set out in "Section B-3 of the Facility Agreement" marked as "Annexure NAS-1" to the * THE Page 5 of 5