Two directors of TRV Towers Ltd, a father and son, appeared before a Nairobi court on Friday, charged with the alleged theft of Sh112 million from the company. The accused, Tribhovan Anlalji Chavada and his son Jayesh Tribhovan Chavada, both denied the charges before Magistrate Benmark Ekhubi.
The prosecution claims that Tribhovan Anlalji, the managing director, misappropriated Sh112 million over nearly four years, between October 18, 2019, and July 31, 2023. In addition to this, both Tribhovan and Jayesh are accused of conspiring to defraud the company of the same amount and unlawfully forging account-opening documents for the Bank of Baroda, presenting them as genuine.
The defense requested reasonable bond terms, while Justice Mutava, representing the victim, pushed for strict bail conditions due to the substantial amount allegedly stolen. Mutava raised concerns about the risk of flight, noting that both defendants hold dual citizenship in the United Kingdom and Kenya. He asked the court to require the accused to surrender their passports until the trial concludes.
Mutava also argued for measures to prevent the directors from accessing company accounts, suggesting they could influence company affairs or withdraw funds. However, Magistrate Ekhubi declined to impose restrictions on the accounts, advising the complainant to submit a formal application for account freezing.
The court set bail at Sh200,000 for Tribhovan and Sh150,000 for Jayesh. The case will proceed on November 13, 2024.
