In a high-profile case that has drawn significant attention, two directors of TRV Towers Limited appeared in a Nairobi court today to face charges related to an alleged theft involving millions of shillings.
The accused, Tribhovan Anlalji Chavada and his son, Jayesh Tribhovan Chavda, were brought before the court on accusations of misappropriating Ksh 112 million from the company.
Both men are integral figures within TRV Towers Limited, with Tribhovan Chavada serving as the managing director and his son as a fellow director.
According to the charge sheet presented in court, Tribhovan Anlalji Chavada is accused of embezzling a substantial amount of Ksh 112 million from TRV Towers Limited over a span of nearly four years.
The alleged offenses took place on various dates between October 18, 2019, and July 31, 2023.
It is reported that the funds were in his possession as a result of his managerial position within the company, a role that entrusted him with financial responsibilities.
In addition to the theft charges, the case involves allegations of conspiracy to defraud.
Both Tribhovan and Jayesh are accused of conspiring to siphon funds from the company through means yet to be fully disclosed in court.
This conspiracy charge suggests a coordinated effort between the father and son, raising concerns about internal controls and oversight mechanisms within the company.
A third charge against the duo involves the alleged forgery of documents.
Prosecutors argue that the two forged key documents to open an account with the Bank of Baroda, representing the paperwork as authentic.
The forgery allegations further compound the severity of the charges, as they point to a premeditated attempt to legitimize actions that might otherwise appear suspicious to financial regulators and stakeholders.
Appearing before Magistrate Benmark Ekhubi, both Tribhovan and Jayesh Chavda firmly denied all charges brought against them.
Their defense team asserted that the allegations were baseless and that the accused are committed to proving their innocence in due course.
However, the prosecution, represented by Justice Mutava, highlighted several risk factors associated with the accused, particularly regarding their potential flight risk.
Justice Mutava emphasized that both men hold dual citizenship in Kenya and the United Kingdom, a detail that, according to him, increases the risk of them absconding from the court’s jurisdiction.
In light of this, he urged the court to impose strict bail conditions, including the confiscation of their passports until the case is resolved.
“Given their dual citizenship, there exists a higher possibility that they might evade justice by leaving the country. To mitigate this risk, we request that the court retain their passports until the conclusion of the trial,” Mutava argued.
Justice Mutava also expressed concerns about Tribhovan Chavada’s influence within the company. As the managing director, Tribhovan reportedly wields substantial control over various company accounts and operational matters.
Justice Mutava petitioned the court to restrict Tribhovan from interfering in the company’s affairs during the trial, citing potential conflicts of interest and the possibility of tampering with evidence or intimidating witnesses.
The prosecution sought a court order to freeze certain TRV Towers accounts under Tribhovan’s control to prevent any withdrawals that might compromise the integrity of the trial.
However, Magistrate Benmark Ekhubi declined to make an immediate ruling on the freezing of the company’s accounts.
He advised the complainant to file a formal application should they wish to pursue this measure further.
This decision indicates that the court is taking a measured approach, ensuring that due process is observed and that any actions involving corporate assets are handled with care.
Despite these objections, the court granted bail to both accused individuals.
Tribhovan Chavada was released on a bond of Ksh 200,000, while his son Jayesh was granted bail set at Ksh 150,000.
The magistrate’s decision to allow bail, albeit with stringent conditions, aligns with the principle that defendants are presumed innocent until proven guilty.
The court’s refusal to impose an immediate freeze on the accounts may provide the defense with some relief, as it enables TRV Towers Limited to continue its financial operations without disruption pending a formal application.
The case has been scheduled for further proceedings on November 13, 2024, where both the prosecution and the defense are expected to present additional evidence and arguments.
This high-stakes legal battle has implications not only for the accused and their company but also for the broader business community, as it underscores the importance of transparency, accountability, and strong internal controls within corporate governance.
Should the court find the accused guilty of the charges, this case could serve as a stark warning to corporate leaders about the risks and consequences of financial mismanagement and fraudulent practices.
Additionally, it highlights the role of the judiciary in upholding corporate ethics and protecting shareholders and stakeholders from misconduct by those in power.
All eyes will be on the courtroom as Kenyans, especially those in the business sector, await the court’s final judgment on a case that underscores the importance of accountability and ethical leadership in corporate Kenya.
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