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Ex Nakumatt C.E.O Atul Shah’s property auctioned by KCB Group

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KCB won the fight against three other banks over ex Nakumatt C.E.O Atul Shah’s property in Nairobi’s industrial.

This comes after a long legal battle between KCB ,DTB Bank, Standard Chattered and Bank of Africa.

After the ruling by High court judge Alfred Mbeya, KCB quickly auctioned the property to Furniture Palace limited in a bid to avoid any appeal by his rivals against the property.

The property was sold for 1.04 billion shillings with the bank incurring a loss of almost 1 billion shillings.

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