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NJONJO at CMC
Jamani
#11 Posted : Friday, August 03, 2012 7:26:07 PM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
Mnandi wrote: TRUE. Running a company as if it was some personal club cannot help KENYA.

The club is now under fire...... "Kung'u Gatabaki, the chairman at Capital Market Authority (CMA) has announced that the seven former directors betrayed shareholders' interest and could therefore not be trusted with any other boards."
Jamani
#12 Posted : Friday, August 03, 2012 7:38:54 PM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
This means that blacklisted directors who are serving on any other board will be forced out and will not be allowed on any company, including a securities exchange in the capital markets in Kenya.

“We are also going to pursue the said directors with the help of government agencies to refund upto three-fold the amount they have stolen from the company given that it has been earning interest,” the CMA board chairman Kungu Gatabaki said.
...............This is the boldest step yet that the regulator has taken in dealing with fraud and running down of companies listed at the bourse. .....................The investigations also learnt that most of the persons that had appeared before the Ad hoc committee of the Board had pleaded ignorance of the requirements of their roles as directors of a listed company, and in this regard stated that ignorance, as is always the case, is no defense.

This was also a pointer to the low levels of awareness and embracing of corporate governance by directors of the listed companies,” Mr Gatabaki noted.


http://www.nation.co.ke/...8/-/hpdx85z/-/index.html
Elephant Man
#13 Posted : Saturday, August 04, 2012 9:38:10 AM
Rank: Member

Joined: 12/24/2008
Posts: 112

So will Kemoli and Kierieni be shown the door at Unga? Applause Where else?
Jamani
#14 Posted : Saturday, August 04, 2012 10:35:14 AM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
@ Elephant Man... This means that blacklisted directors who are serving on any other board will be forced out and will not be allowed on any company, including a securities exchange in the capital markets in Kenya.
Khalas! finished they are out of the door
Njung'e
#15 Posted : Saturday, August 04, 2012 11:07:43 AM
Rank: Elder

Joined: 2/7/2007
Posts: 11,935
Location: Nairobi
VituVingiSana wrote:
njonjo, kiereini... the old guard is leaving the building!


Shameless dirty old men.
Nothing great was ever achieved without enthusiasm.
youcan'tstopusnow
#16 Posted : Saturday, August 04, 2012 12:00:03 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Yes, it should be illegal for Njonjo to even dream that he can be on the board of listed companies
GOD BLESS YOUR LIFE
youcan'tstopusnow
#17 Posted : Saturday, August 04, 2012 12:03:13 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Na wale waliangusha Uchumi je? Ama that will never be revisited?
GOD BLESS YOUR LIFE
Jamani
#18 Posted : Saturday, August 04, 2012 12:36:25 PM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
youcan'tstopusnow wrote:
Na wale waliangusha Uchumi je? Ama that will never be revisited?


koti iliamua hatma yao
Impunity
#19 Posted : Saturday, August 04, 2012 1:25:25 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
Jamani wrote:
youcan'tstopusnow wrote:
Na wale waliangusha Uchumi je? Ama that will never be revisited?


koti iliamua hatma yao


Can Mutunga court revisit their cases? That was Kibaki's court at the time.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

youcan'tstopusnow
#20 Posted : Saturday, August 04, 2012 2:42:52 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Impunity wrote:
Jamani wrote:
youcan'tstopusnow wrote:
Na wale waliangusha Uchumi je? Ama that will never be revisited?


koti iliamua hatma yao


Can Mutunga court revisit their cases? That was Kibaki's court at the time.


"The double jeopardy provisions protect an accused from being tried again on the same or similar charges following an acquittal or conviction. The principal is embodied in Article 50(2)(o) of the Constitution and the Criminal Procedure Code, Sections 138-142. However, by virtue of Section 139 through Section 141 of the CPC, a person may be charged and tried again: a. for a separate offence arising from the same set of facts as those of the crime for which the accused was previously convicted or acquitted. b. for consequences which arise after a conviction or acquittal, if they were not known at the time of conviction or acquittal. c. if the court that tried the accused in the first instance was not competent to try the offence for which he is subsequently charged."
GOD BLESS YOUR LIFE
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