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Bank of Baroda ordered to pay firm Sh155m over land sale

A Bank of Baroda branch in Nairobi. PHOTO | FILE

The Bank of Baroda has been ordered to pay a company more than Sh155 million for selling its one-acre piece of land at an undervalued price to recover a loan default.

Justice Luka Kimaru has found that the bank was negligent when it sold the Industrial Area piece of land owned by Komassai Plantations Limited for Sh37.5 million in October 2006, when it was valued at Sh62 million.

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