The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
Court of Appeal ruled that there was no evidence to show that Guardian Bank was obligated to pay for Guilders’ purchase. [File, Standard]
The Court of Appeal has handed businessman Maganlal Motichand Chandaria’s family a major reprieve after reducing a Sh2.5 billion award handed by the High Court in a long-standing row over Guilders International Bank ownership.
The family will now pay Sh750 million, which includes Sh196 million that was the principal amount for the purchase of Guilders.
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