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Ex-MP Ndung’u Gethenji loses control of Sh20bn city property


Economy

Ex-MP Ndung’u Gethenji loses control of Sh20bn city property

tetu

Former Tetu MP James Ndung’u Gethenji. FILE PHOTO | NMG

Former Tetu MP Ndung’u Gethenji has lost an attempt to regain control of his family’s Sh20 billion estate in Kitisuru, Nairobi that is under the management of his elder brother, Gitahi Gethenji, and other shareholders.

The former MP wanted the Court of Appeal to suspend a High Court judgement, which declared that he had no powers to take over the management of a company known as Kihingo Village (Waridi Gardens) Management One Limited, which controls the estate.

Mr Ndung’u also wanted to be allowed back to the top management pending the hearing and determination of his appeal.

But the appellate court dismissed his request, saying what was intended to be forestalled by the reliefs sought had been effected, namely, registration of new directors and change of bank signatories. Justices Roselyn Nambuye, Wanjiru Karanja and Hannah Okwengu said issuing the injunction orders sought by Mr Ndung’u would be in vain.

The judges added that the decisions that would be made by the company are reversible.

Mr Ndung’u had said he was apprehensive that the shareholders controlling the company may commit it in transacting with third parties and result in liabilities being occasioned to the company. He sought a temporary order stopping the implementation of resolutions passed by the shareholders and homeowners at a special general meeting held on April 13, 2019.

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