Taj Mall owner Rameshchandra Govind Gorasia risks auction over failure to pay a Sh3.2 million debt owed to a private security firm after a court declined his proposal to use logbook to secure the debt.
Mr Gorasia wanted the High Court to allow him to use the logbook of a Caterpillar Wheel Loader as security of the debt he owes Cobra Security Company Limited. He also wanted the court to suspend execution of a judgement dated December 7, 2018 in which a magistrate had ordered Taj Mall Ltd to pay the security firm a sum of Sh3,205,930.
