NAIROBI, Kenya Apr 20 \u2013 Businessman Yagnesh Mohanlal Devani has filed a fresh case at the High Court of Kenya seeking a comprehensive audit of the running receivership of Triton Petroleum Company Limited.<\/p>\n
The suit, lodged before the court\u2019s Commercial and Tax Division through Echessa & Bwire Advocates LLP, names the company\u2019s receivers and managers, Kenya Commercial Bank, the Eastern and Southern African Trade and Development Bank, and the Central Bank of Kenya as respondents.<\/p>\n
The court has already certified the matter as urgent, ordering the respondents to file their replies within seven days.<\/p>\n
In his application, Devani questions the transparency of the receivership, which has spanned 17 years, arguing that shareholders have not been provided with a full account of how the company\u2019s assets have been handled over that period.<\/p>\n
He claims there has been no clear record of asset disposals, recoveries, or the total proceeds realized, raising concerns over the management of Triton Petroleum\u2019s estate. The filings also point to a lack of detailed explanation regarding expenses incurred throughout the receivership.<\/p>\n
The businessman further accuses the lenders of failing to properly account for assets under their control, while alleging that the appointed receivers did not meet their fiduciary and statutory obligations.<\/p>\n
The Central Bank of Kenya is also drawn into the dispute, with Devani faulting the regulator for allegedly failing to intervene despite its oversight role in the banking sector.<\/p>\n
Through the case, he is seeking court orders compelling a full forensic audit of all transactions undertaken during the receivership, including asset sales, recoveries, and expenditures.<\/p>\n
He is also pushing for an independent investigation into possible irregularities, a determination of liability among the parties involved, and compensation for losses he claims to have suffered.<\/p>\n
The case could revive scrutiny into the collapse of Triton Petroleum and raise broader questions about accountability in corporate insolvency processes in Kenya.<\/p>","protected":false},"excerpt":{"rendered":"
NAIROBI, Kenya Apr 20 \u2013 Businessman Yagnesh Mohanlal Devani has filed a fresh case at the High Court of Kenya seeking a comprehensive audit of the running receivership of Triton Petroleum Company Limited. The suit, lodged before the court\u2019s Commercial and Tax Division through Echessa & Bwire Advocates LLP, names the company\u2019s receivers and managers, […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-138387","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/138387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=138387"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/138387\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=138387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=138387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=138387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}