Ex tempore
The Application dated 20.09.2022 seeks to enforce the Notice to Produce dated 30.08.2023 issued by the Defendant to the Plaintiff to produce certain documents. The parties have filed written submissions and also made oral arguments which I have considered.
Items 1 and 2 seek the production of Directives issued by the Capital Markets Authority to the Plaintiff in 2021. The Plaintiff states that no such directives were issued to it but states that directives were indeed issued to other associated companies. I hold that the notice is specific to the Plaintiff and since no such directive was issued, the court cannot order its production.
Item No. 3 seeks a list of complaints made to the Plaintiff by its clients from 2017 to date. The Plaintiff states that it clients are juristic persons who have not made any complaints and that a list of such complaints does not exist. Since the request is specific, the court cannot order production of a list that does not exist.
As regards the request for the list and products of the services offered by the Plaintiff requested in Item No. 4, the Plaintiff states that the only service it offers to its juristic clients is the management of money market funds hence there is no list of products and services. In this instance therefore the court cannot order provision of a list that that Plaintiff does not have and does not exist.
The Defendants accepts that it has been furnished with the Plaintiffs financial statements for the year ending 2017 published by the Plaintiff on 31.12.2017 on its website hence the request for the document in Item No. 5 has been complied with.
For the reasons I have set out the Defendants application dated 20.09.2022 is dismissed with costs in the cause.
Matter for mention on 30.10.2023 before PJ for re-allocation.
DATED and DELIVERED at NAIROBI this 7th day of NOVEMBER 2023
D. S. MAJANJA
JUDGE