1. I have perused the Notice of Motion application dated 15th January 2026 , vide which the applicant seeks the following orders:-
1. THAT this application be certified as urgent and the same be heard on a priority basis;
2. THAT this court be pleased to extend the time for the registration of the following securities issued to DIB Bank Kenya Limited for a f urther period of
thirty (30) days from the date of this order :
(i) The All Assets Fixed and Floating Debenture dated 27th November 2025, issued by Naushad Trading Company Limited to secure financial advances amounting to an aggregate sum of United States Dollars One Million only (USD 1,000,000/-); and
(ii) The Charge dated 27th November 2025, issued by Naushad Trading Company Limited over all that piece or parcel of land known as land Title Number Mombasa/Block XIX/167 to secure financial advances amounting to Kenya Shillings Thirty Million (KES 30,000,000/-).
3. THAT the costs of this Application be borne by the Applicant.
2. I note that what the applicant seeks to do is to register securities out of time, as Naushad Trading Co Ltd needed to obtain relevant discharges from Habib Bank AB Zurich before registering the applicant's securities. Further, it was necessary to obtain the consent of the counterparts and/or existing lenders or financiers to issue all assets debentures and to create charges over the applicant's assets.
3. The omission to register the securities within the time prescribed in section 885 of the Companies Act, 2015 was therefore inadvertent, and occasioned by the nature of the transaction and other factors beyond the applicant's control. The delay in any case was not inordinate and is excusable. In my view no party will suffer prejudice if the application is allowed.
4. Given the circumstances of this case, I am of the view that allowing the application would be in the interest of justice.
5. I therefore allow the application dated 15th January 2026 as prayed . As this is an exparte application, I make no orders as to costs. I order that the court file be closed forthwith.
6. It is so ordered.
1. THAT this application be certified as urgent and the same be heard on a priority basis;
2. THAT this court be pleased to extend the time for the registration of the following securities issued to DIB Bank Kenya Limited for a f urther period of
thirty (30) days from the date of this order :
(i) The All Assets Fixed and Floating Debenture dated 27th November 2025, issued by Naushad Trading Company Limited to secure financial advances amounting to an aggregate sum of United States Dollars One Million only (USD 1,000,000/-); and
(ii) The Charge dated 27th November 2025, issued by Naushad Trading Company Limited over all that piece or parcel of land known as land Title Number Mombasa/Block XIX/167 to secure financial advances amounting to Kenya Shillings Thirty Million (KES 30,000,000/-).
3. THAT the costs of this Application be borne by the Applicant.
2. I note that what the applicant seeks to do is to register securities out of time, as Naushad Trading Co Ltd needed to obtain relevant discharges from Habib Bank AB Zurich before registering the applicant's securities. Further, it was necessary to obtain the consent of the counterparts and/or existing lenders or financiers to issue all assets debentures and to create charges over the applicant's assets.
3. The omission to register the securities within the time prescribed in section 885 of the Companies Act, 2015 was therefore inadvertent, and occasioned by the nature of the transaction and other factors beyond the applicant's control. The delay in any case was not inordinate and is excusable. In my view no party will suffer prejudice if the application is allowed.
4. Given the circumstances of this case, I am of the view that allowing the application would be in the interest of justice.
5. I therefore allow the application dated 15th January 2026 as prayed . As this is an exparte application, I make no orders as to costs. I order that the court file be closed forthwith.
6. It is so ordered.