1. The matter before the Court is the Applicants’ application under a Certificate of Urgency by way of a Notice of Motion dated 14th September, 2026. It is brought pursuant to Section 2 and 3 of the Judicature Act, Cap 8 of the Laws of Kenya. Sections 96 and 888(1) (a) of the Companies Act, 2015 and Rule 8(b) of the Companies (High Court) Rules 1964.
2. The Applicants seek the following orders:
1. THAT this Application be heard under Certificate of Urgency during the High Court Vacation.
2. THAT this Honourable Court does deem it prudent and expedient to certify this Notice of Motion Application as urgent.
3. THAT Stamp Duty on the Transfer of Lease dated 20th July, 2026 as well as the First Legal Charge dated 21st July, 2026, respectively, over the Property known as Flat No. 2, Ground Floor on Title No. Nairobi/Block 35/336 (previously known as Land Reference Number 209/9/7, Nairobi) was paid on time and the documents presented for stamping and subsequently registration at the Lands Registry.
4. THAT there was been an inadvertent delay in stamping and subsequent registration of the said Transfer of Lease dated 20th July, 2026 as well as the First Legal Charge dated 21st July, 2026, respectively, over the Property known as Flat No. 2, Ground Floor on Title No. Nairobi/Block 35/336 (previously known as Land Reference Number 209/9/7, Nairobi) (the Property) made by FINSPREE SOLUTIONS LIMITED in favour of I & M BANK LIMITED at the Lands Registry, Nairobi.
5. THAT this Honourable Court do extend the time within which to register the said First Legal Charge for a further period of Thirty (30) days from the date of this order as provided under Section 888(2) (b) of the Companies Act, 2015, Laws of Kenya.
3. The application is premised on the Supporting Affidavit of Everlyne Mwachinda, sworn on the 14th September, 2026. The deponent states that the delay in registering the charge within the statutory thirty-day period was inadvertent, occasioned solely by the simultaneous registration of the Transfer of Lease and the First Legal Charge at the Lands Registry. A copy of the First Legal Charge dated 21st July, 2026, securing the sum of Kshs. 13,300,000/= is attached to the application.
4. Under Section 888 of the Companies Act, 2015, this Court retains the discretion to extend the time for registration if satisfied that the omission was accidental, due to inadvertence, or that it is just and equitable to grant relief. As was established in In re Diamond Trust Bank Kenya Limited [2026] KEHC 4049 (KLR), delays resulting from protracted administrative processes at the Lands Registry that fall beyond an applicant's control constitute sufficient inadvertence to warrant the extension of time.
5. Having reviewed the pleadings and the attachments the Court is satisfied that the failure to register the charge was not actuated by fraud but by procedural delays at the Lands Registry. The substantive rights of the Borrower's shareholders and creditors will not be prejudiced.
Determination
6. Accordingly, the Court finds merit in the application by way of a Notice of Motion dated 14th September, 2026 and grants the prayers as sought as follows:
1. THAT this Application is HEREBY heard under Certificate of Urgency during the High Court Vacation.
2. THAT this Honourable Court HEREBY does deem it prudent and expedient to certify this Notice of Motion Application as urgent.
3. THAT this Honourable Court HEREBY extends the time within which to register the said First Legal Charge for a further period of Thirty (30) days from the date of this order as provided under Section 888(2) (b) of the Companies Act, 2015, Laws of Kenya.
4. THAT there be no orders as to costs.
7. THAT this file is HEREBY marked as closed.
8. It is so ordered.
DATED, SIGNED AND DELIVERED AT MILIMANI THIS 15TH DAY OF SEPTEMBER, 2026
NJOROGE BENJAMIN K.
JUDGE
2. The Applicants seek the following orders:
1. THAT this Application be heard under Certificate of Urgency during the High Court Vacation.
2. THAT this Honourable Court does deem it prudent and expedient to certify this Notice of Motion Application as urgent.
3. THAT Stamp Duty on the Transfer of Lease dated 20th July, 2026 as well as the First Legal Charge dated 21st July, 2026, respectively, over the Property known as Flat No. 2, Ground Floor on Title No. Nairobi/Block 35/336 (previously known as Land Reference Number 209/9/7, Nairobi) was paid on time and the documents presented for stamping and subsequently registration at the Lands Registry.
4. THAT there was been an inadvertent delay in stamping and subsequent registration of the said Transfer of Lease dated 20th July, 2026 as well as the First Legal Charge dated 21st July, 2026, respectively, over the Property known as Flat No. 2, Ground Floor on Title No. Nairobi/Block 35/336 (previously known as Land Reference Number 209/9/7, Nairobi) (the Property) made by FINSPREE SOLUTIONS LIMITED in favour of I & M BANK LIMITED at the Lands Registry, Nairobi.
5. THAT this Honourable Court do extend the time within which to register the said First Legal Charge for a further period of Thirty (30) days from the date of this order as provided under Section 888(2) (b) of the Companies Act, 2015, Laws of Kenya.
3. The application is premised on the Supporting Affidavit of Everlyne Mwachinda, sworn on the 14th September, 2026. The deponent states that the delay in registering the charge within the statutory thirty-day period was inadvertent, occasioned solely by the simultaneous registration of the Transfer of Lease and the First Legal Charge at the Lands Registry. A copy of the First Legal Charge dated 21st July, 2026, securing the sum of Kshs. 13,300,000/= is attached to the application.
4. Under Section 888 of the Companies Act, 2015, this Court retains the discretion to extend the time for registration if satisfied that the omission was accidental, due to inadvertence, or that it is just and equitable to grant relief. As was established in In re Diamond Trust Bank Kenya Limited [2026] KEHC 4049 (KLR), delays resulting from protracted administrative processes at the Lands Registry that fall beyond an applicant's control constitute sufficient inadvertence to warrant the extension of time.
5. Having reviewed the pleadings and the attachments the Court is satisfied that the failure to register the charge was not actuated by fraud but by procedural delays at the Lands Registry. The substantive rights of the Borrower's shareholders and creditors will not be prejudiced.
Determination
6. Accordingly, the Court finds merit in the application by way of a Notice of Motion dated 14th September, 2026 and grants the prayers as sought as follows:
1. THAT this Application is HEREBY heard under Certificate of Urgency during the High Court Vacation.
2. THAT this Honourable Court HEREBY does deem it prudent and expedient to certify this Notice of Motion Application as urgent.
3. THAT this Honourable Court HEREBY extends the time within which to register the said First Legal Charge for a further period of Thirty (30) days from the date of this order as provided under Section 888(2) (b) of the Companies Act, 2015, Laws of Kenya.
4. THAT there be no orders as to costs.
7. THAT this file is HEREBY marked as closed.
8. It is so ordered.
DATED, SIGNED AND DELIVERED AT MILIMANI THIS 15TH DAY OF SEPTEMBER, 2026
NJOROGE BENJAMIN K.
JUDGE