It was a legal victory for Rwandese Investor Desire Muhinyuza Wednesday, after a High Court decision declared he was the real owner of StayOnline Limited.
“Accordingly I find that the plaintiff is the owner of the company and the first defendants committed fraud by not filing the forms of ownership properly,” Justice Mabeya asserted
The Rwandese has been in a legal battle with Kenyan Businessman Kirimi Koome over who is the real owner of StayOnline Kenya Limited.
Kirimi Koome is accused of conspiring to defraud Desire Muhinyuza, who is the beneficial owner of Stay Online Limited of USD 2,619,583.27, being merchant funds by falsely representing himself as the owner.
Last week, Justice Alfred Mabeya received witnesses testimonies among them the plaintiff, the defendant and from the Registrar of Companies.
The Registrar of Companies Hiram Gashogi testified that the beneficial owner of the Ksh 400 million contested tech-firm is Rwandese Investor Desire Muhinyuza.
The Registrar of Companies Hiram Gashogi testifying on 21st December,2023 before Justice Alfred Mabeya where he stated the beneficial owner of StayOnline Ltd is Rwandese Investor Desire Muhinyuza.
Koome during his testimony and cross examination was put to task to explain to the court that indeed he was the owner but failed. When he took to the witness stand, he told Justice Mabeya that he was the owner and had recieved capital injection from Rwanda which is the Plaintiff’s home country.
He, however, said he did not know that such a company existed in Rwanda,Uganda and Zambia respectively.
Muhiyunza’s lawyers led by Senior Counsel Danstan Omari put up a spirited fight for three months in court papers and presentations to help him regain control of his business StayOnline Limited.
“Desire exercises significant control of Stay Online Kenya Limited considering that he exercised decision making powers over the management and operations of SOL Limited from its incorporation in Rwanda” Omari said
Desire filed the suit against Koome claiming that the Kenyan businessman had defrauded him and his company.
The Rwandan investor told the High Court that the firm is his and only brought on board Koome to register the company at the centre of the dispute because foreigners experienced hardships in registering companies in the country.
The court heard there was a resolution passed by StayOnline Rwanda to expand the business and was effected and a local representative and initial capital was sent.
Desire told Justice Mabeya during his testimony that he has since obtained the required immigration documents to warrant him to take over the management and control of his company.
Koome is also charged at the Chief Magistrate’s court with making a false entry in a document for a payment of USD 100,000 (Ksh 14 million) to his Equity Bank USD Account and providing false information to the police.
Kenyan Businessman Kirimi Koome on 20th December,2023 who has been ordered to pay the cost of the suit and return the business to the Rwandese
Justice Mabeya has ordered Koome to pay the cost of the suit from the time it was filed.
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