Equity Bank may proceed with the sale of a 0.9 acre parcel of land to redeem a Sh3 million loan, a Kisumu court yesterday ruled.
Chief magistrate Lucy Gitari dismissed an application barring by George Agal, the owner of the land, and asked him to cover the costs incurred in the proceedings.
“I find that the applicant has not proved on a balance of probabilities that he is entitled to an injuction. The application is devoid of merits. I dismiss it with costs,” ruled the magistrate.
The judge added that the plaintiff was economical with the truth in the civil suit.
“I have considered the application. Though the applicant declares that he took a loan of Sh2, 601, 407, he was economical with the truth. He did not annex the loan agreement to his supporting affidavit or even in the supplementary affidavit,” the ruling read.
It further said that additional loans advanced to Agal were not annexed.
It added that the respondents proved that he defaulted in repaying the loan and that a formal demand letter sent to him by the bank was proof of its statutory powers to execute the sale.
His economy of truth was betrayed by the bank in a replying affidavit in which they annexed demand and statutory notices.
The court further argued that Agal did not prove probability of suffering irreparably as claimed in his application.
Agal asked the court to stay the ruling for seven days.
He had moved to the court to stop the bank from auctioning the parcel of land registered as Ugenya/Siranga/1239.
In the matter that was certified as urgent, Agal fronted five grounds on which he sought to bar the sale.