The Court of Appeal has set aside an undertaking directing Imperial Bank of Kenya (IBL) to pay Mombasa tycoons Ashok Doshi and Amit A. Doshi about Sh1 billion, as they seek to recover deposits from the collapsed lender.
A three-judge bench faulted the High Court judge for ruling that a consent recorded in July 2016 bound IBL and Central Bank of Kenya (CBK) to pay the depositors if they succeeded in their case.
