BY SAM ALFAN.
A shareholder of Kenya Seed Company (KSC) has suffered a major blow in his attempt to privately prosecute the board members of KSC and Agricultural Development Corporation (ADC).
This is after High court Anti-Corruption Division dismissed petition filed by Peter Chemuigut seeking to prosecute the board members over claims of misappropriation of funds and the management of the company.
In her decision, Justice Esther Maina said that the matters raised by Chemuigut should have been filed before the commercial court as they fall under the Companies Act.
The Judge further declined a prayer to be allowed to privately prosecute the board members of KSC and Agricultural Development Corporation (ADC) for lack of jurisdiction.
“In my view, all the above allegations pertain to the internal affairs and running of a company which ought to be adjudicated under the Companies Act whose jurisdiction is the preserve of the commercial and tax division of the high court but not this court.”
Chemuigut moved to court arguing that Agriculture CS Peter Munya and KSC board had frustrated efforts of shareholders to hold an annual general meeting.
