September 25, 2022

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Why Billionaire Ashok Doshi, wife risks arrest over Sh150million land fraud

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Steel billionaire Ashok Doshi together with his wife are facing arrest over a Sh150 million Nairobi land fraud.

This is after Doshi, the director of Doshi Group of Companies, lost a court case in which he sought to permanently ban the police from arresting him and his wife Amit Pratibha.

Justice Eric Ogola dismissed the petition arguing that it lacked merit in the orders it sought.

“In the instant petition, the petitioners are threatened with arrest and arraignment over allegations of fraudulent acquisition of a private property and failure to pay lawful stamp duty, these are not issues which this court can decide,” he ruled.

Doshi and his wife are accused of fraud relating to a prime parcel of land on Processional Way in Nairobi.

The land was initially owned by Greenview Lodge Limited which sold it to Magnum Properties Limited before it was transferred to them in 2018 for Sh150 million.

According to Doshi, although Greenview Lodge had sold the land to Magnum Properties, its director, Jennifer Nthenya had lodged multiple claims that the land had been acquired by the couple illegally.

In several complaints launched by Nthenya, it is alleged that the land was fraudulently transferred to Magnum Properties and subsequently to Doshi and that stamp duty was not paid.

Nthenya told the court that by July 1992, it had paid Sh1.05 million towards liquidation of the allocation fees which stopped when the company lost one of its directors and started looking for a prospective buyer.

Doshi, through his company Magnum Properties, offered to buy the property for Sh120 million.

However, Magnum Properties did not pay the amount but they instead purported to obtain a grant over the land despite not being the allottee of the land.

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