Renson Ingonga, the Director of Public Prosecutions, has applied to withdraw a Sh706.9 million fraud case against Jayesh Kumar Prabudas Kotecha, a company director, and Midland Hauliers Limited. However, the receiver manager appointed by Prime Bank has opposed this application.
Mr Kotecha has been charged with conspiring to defraud Prime Bank by transferring mortgaged trucks to another company, Super Hakika Limited, without informing the administrator, despite MHL having been under receivership since 2020 due to unpaid loans.
A receiver manager has opposed an application by Director of Public Prosecutions (DPP) Renson Ingonga to withdraw a Sh706.9 million fraud case against a company director accused of disposing of properties used as collateral for the facility.
However, Milimani law courts principal magistrate Carolyne Mugo reserved her decision to the DPP’s application to withdraw under Section 87(a) of the Criminal Procedure Code (CPC) the case against Mr Jayesh Kumar Prabudas Kotecha and Midland Hauliers Limited (MHL) pending a response from the accused.
