A Rwandan based Investor to Kenya, Desire Muhinyuza has made an application to court to assist him in regaining control of the Stay Online company.
He wants the court to declare him as the parent owner and beneficial owner of the company to safeguard the significant foreign investment and avert further losses by the online company.
Desire informs court that as at now he only exercises indirect ownership and Indirect control as a beneficial owner to stay online company as his shares are held through his nominee, Kirimi Koome who is the accused in criminal matter concerning Ksh 400 million alleged fraud.
Desire further affirms that he owns controlling interest in Stay Online Rwanda which in turn own the Stay Online Limited Kenya Company.
According to Desire, he exercises control and influence in stay online Kenya Limited considering that he exercised decision making power over the management and operation of stay online limited from its incorporation as per resolutions of stay online Rwanda dated April 1,2023 appointment of Koome as a director of the Company before allegedly siphoning funds made for advancing the Company in Kenya to his private accounts.
Desire filed the suit against Koome two months ago stating that Kirimi Koome had defrauded him his company illegally.
The businessman in Court documents told the High Court that he brought on board Koome to register the company the center of the dispute because foreign experienced hardships in registering companies in the country.
Desire is therefore asking the High to archive the company and to declare him as the sole proprietor of Stay Online Limited (SOL)
“That the company should be archived and Desire should be assisted to regain control of the company as the parent owner and benefial owner of the same to safe guard the significant foreign investment and avert further loss,” Lawyer Omari pleads.
The lawyer says that the central issues in dispute are ownership and control of SOL.
He adds that the documents availed from the Registrar of Companies Desire exercise indirect ownership and control as the beneficial owner of his shares which are held on his behalf by his nominee Koome.
Lawyer Omari says Desire owners controlling interest in SOL which in turn owns the company in dispute.
“Desire exercise significant control of Stay Online Kenya Limited considering that he exercised decision making power over the management and operations of Sole Limited from its incorporation in Rwanda on April 1,2023 when Koome was appointed its director in Kenya,” Omari asserts.
Further, Advocate Omari says the resolution reached before was appointed the local director of SOL are binding on the companies management.
The resolution passed indicated that Koome would register the company in Kenya and relinquish his interest in the company once desire regularizes his immigration status in the country.
Desire says he has since obtained the required immigration documents to warrant him take over the management and control of his company Stay Online Limited.
