A nephew of billionaire industrialist Mohan Galot has suffered a blow in the fight for Sh48.9 million that was paid to the family’s firms by the National Bank of Kenya (NBK), as refunds for excess loan repayments.
High Court Judge Alfred Mabeya dismissed the application by Mr Pravin Galot saying it was not for the court to decide how the money would be shared out among the shareholders of Galot Industries and King Woolen Mills (formerly Manchester Outfitters Ltd).
