[SIZE=7]Owner of Nyama Mama restaurant missing amid Sh520m loan fraud claim[/SIZE]
Thursday, December 09, 2021
By Sam Kiplagat
Nation Media Group
The proprietor of a popular Nyama Mama restaurant has gone missing amid accusations of fraudulently obtaining over half-a-billion shillings from a bank prompting a Nairobi court to issue a warrant for her arrest.
Jay and Ninaa Shanghavi, Founders Good Earth Group.
Ninaa Shanghavi was required to appear before senior principal magistrate Zainab Abdul on Wednesday but her lawyer said she had traveled outside the country.
The magistrate declined to suspend the warrant for her arrest for two weeks, saying she was aware that she was required to appear in court.
Ms Ninaa and her spouse Jayesh Shanghavi are accused of obtaining an Sh520 million loan without offering security. o_O
The lender had applied to be allowed to put an advertisement in the newspaper, announcing that she was missing but the court directed her to present herself in court within two weeks, failure to which the bank would be free to publicize her missing.
The two, who are directors of Good Earth (Group) Ltd, are accused of inducing Victoria Commercial Bank to execute a charge over an apartment in Nairobi to obtain a loan of Sh520 million, with intent to defraud. Good Earth Ltd is the company behind Nyama Mama, Blue Door, Yao, and Deli and Bakery.
Read the full story here.