The Appellate Court has ordered Keroche Breweries to deposit Sh100 million with the Kenya Revenue Authority to stop the taxman from attaching its assets in a Sh9.1 billion dispute.
Court of Appeal Judges Justice William Ouko, Daniel Musinga and Patrick Kiage gave the company 45 days to make the payment failure to which KRA will be free to raid its accounts.
Keroche moved to the appellate court after it was unable to pay a Sh500 million condition set by High Court judge David Majanja.
In the appeal, Keroche claimed that Justice Majanja failed to consider its inability to raise the high amount.
The firm also argued that its appeal would be rendered useless if the agency notices issued by KRA to its bankers were not lifted.
The notices, according to Keroche, will bring to halt the company’s operations.
The appellate Judges lifted the agency notices issued to Equity Bank Limited and Absa Bank of Kenya pending determination of the intended appeal by Keroche.
“Pending the hearing and determination of the applicant’s intended appeal, the agency notices issued on Equity Bank Limited and Absa Bank of Kenya, Plc, on 11th March 2020 and any other agency notice that may have been issued on any of the applicant’s bankers and debtors be and are hereby lifted,” said the judges.
