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Monday, June 26, 2017

85-year-old granny, daughter-in-law locked in shares suit

 Makadara law court .PHOTO/file
Makadara law court .PHOTO/file

A suit filed against an 85-year-old grandmother by her daughter-in-law was heard yesterday.

Mamta Peeush says her mother-in-law Yashwant Kumar, being the executive of an estate and a beneficiary of three companies, has violated a shares agreement by her late husband, Peeush Premlal. Mamta filed the suit on behalf of Premlal, who was a shareholder in the family business.

In September 2012, Premlal instructed law firm Raffman Dhanji Elms and Virdee Advocates to prepare an agreement for sale of shares in respect of shares held by the estate of her late father-in-law Krishna Mahajan. The companies are Shalimar Flowers Ltd, East African Growers Ltd and Maya Investments Ltd which belonged to Krishna.

Mamta says Yashwant refused to sell the shares in which her husband had paid two instalments in the companies. She wants to be given Sh18 million. During the hearing at the High Court before Justice Joseph Onguto, the defendant through her lawyer Timothy Naeku said there was no agreement showing Mamta had applied for the grant last year. The hearing continues today.

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