A real estate company has asked a court to block four companies from allegedly ‘grabbing’ its Sh2 billion property in Nairobi.
Bancroft Properties Limited sued four firms for allegedly attempting to possess and dispose of a 28-acre parcel of prime land in Ruaraka.
The land is located in Ruaraka Industrial Area, adjacent to Moi International Sports Centre in Kasarani.
The company claims to be the registered owner of land No.13560/3, and states that the four firms – Airwaves Properties, Carlsberg International, DKO Investments and Dawn Innovations – fraudulently obtained title documents with the intention of subdividing and selling them to unsuspecting members of the public.
In the petition filed by Clifford Odhiambo and Company Advocates, Bancroft Properties alleges that the firms, while purporting to be the owners of the land, advertised it for sale under a fictitious project dubbed Stadium View Estate.
Bancroft Properties says it acquired the land in 2003 from its initial owner, Central Glass Industries, on a lease of 99 years for Sh23 million.
The court heard that the original title deed is in the custody of Diamond Trust Bank and has never been surrendered to the Registrar of Lands.
The firm claims the four companies fraudulently obtained a certificate of lease purportedly issued by the lands office, which they used to claim ownership of the property.
On June 11, the firms organised and invited members of the public for an open day at the property with the intention of selling plots to them.
"Investigations into the legality of the title held by the respondents, which [were] conducted by the Directorate of Criminal Investigations, have revealed the participation of the four respondents herein in the purported transfer,” the firm says in court documents.
The court heard that there was a wider scheme by some unknown individuals to grab the land from the owners.
This is after an attempt was made to fraudulently alter public records pertaining to the ownership/directorship of Bancroft in a bid to dispose of the land.
Court documents show that in June, Bancroft Properties directors Salim Jessa Haideralli and Firoz Haiderali Jessa discovered that two individuals had been appointed directors of the company without their knowledge.
The individuals – Francis Ooko Otude and Atek Otech Richard – had faked minutes indicating that the company had resolved to appoint them as directors and shareholders of Bancroft Properties and allotted them one share each.
The company directors have denied having conducted such a meeting nor authorised such an appointment.
They now want the court to declare them the legal owners of the land and quash the titles held by the four companies.
Bancroft also wants the court to bar the companies from selling, trespassing on and interfering with the land.
