A Nakuru-based private company has filed a petition in a Nakuru court suing Family Bank over alleged interference of the firm’s bank accounts.
Step-up Holdings, through director Bernard Mwarania, claims that the bank has kept the company out of its over Sh9.5 million in its accounts since 2011.
Mr Mwarania claims that despite several legal attempts and protests to have the accounts, which were frozen four years ago, no response has ever come from Family Bank.
The director added that efforts to get help from the Central Bank of Kenya on the alleged illegal freezing of the accounts by Family Bank even after instituting a legal suit over the same seem to have reached a dead end.
In the 80-paged petition, the bank has also been accused of confiscating Mwarania and his company’s land title deeds without justified reasons as the loan the titles had acted as security had been cleared long before.
“Step-up Holdings fully repaid the loan on August 28, 2010 but Family Bank allegedly failed, neglected and or refused to discharge the title deeds… to the company,” part of the petition reads.
The bank has further been accused of trying to evade paying requisite government stamp duty over a transaction they had entered into with Step-Up Holdings (K) ltd, where over Sh45 million had been advanced to the company to purchase land.
The case will be heard on May 28 this year.