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Mumias sugar takeover now takes another twist
Officials of a Ugandan company, which bagged the multibillion shilling leasing tender for Mumias Sugar Company now risk the slammer after an application for contempt was filed against them, for starting work despite a court order stopping the process.
Tumaz & Tumaz Enteprises moved to court on Thursday accusing Mr Sarbjit Rai, the owner of Sarrai Group, Rakesh Kumar Bvats (manager) and KCB...
Sarrai sets aside initial Sh1.1bn for jumpstarting Mumias Sugar
The Ugandan investor who won the Mumias leasing award will invest Sh1.1 billion to jump-start operations at the ailing miller.
Sarrai Group said the funds, which are only the first batch of capital, would be key to starting the operations at the initial stage with more funds to be injected in due course.
The leasing fee that the Sarrai had bid would go towards paying Mumias creditors to free...
Court freezes Mumias lease in billionaires fight
The fight among billionaires for the control of Mumias Sugar Company has escalated after the High Court suspended the planned leasing of the ailing miller to a Ugandan-based tycoon.
Justice Anthony Ndung’u froze the 20-year-old lease offered to Sarrai Group after businessman Julius Mwale through his firm, Tumaz and Tumaz Enterprises, sued against the offer, saying the bidding was tainted with...