The Court of Appeal has rejected an application by the owners of Thika School of Medical and Health Sciences and Thika Nursing Home to suspend the placement of the institutions under administration for defaulting on a Sh262.8 million loan from Bank of Baroda.
The bank appointed Swaroop Rao Ponangipalli and Ramana Rao as administrators of the institutions last year to protect its interests following their default on the credit facilities which continue to attract interest.
