Bank of Baroda (Kenya) Limited faces attachment of its movable assets after the High Court ordered it to pay Infinity Industrial Park Limited Sh2.99 billion in special damages, escalating a dispute over financing for a planned 200-acre industrial park in Nairobi.
A warrant issued by Milimani High Court Deputy Registrar Stellah Sagwe on September 15 directs Moran Auctioneers to attach the bank’s movable and attachable property unless the amount is paid.
The warrant records the amount currently due as Sh2.99 billion, comprising the damages award, Sh1,500 in further costs and Sh1,500 in collection fees. Attached property may be sold by public auction after the required 15-day notice and proclamation process.
The auctioneer is expected to return the warrant to court by October 15, explaining how it was executed or why it was not. No seizure or sale of bank assets is established by the documents.
The warrant follows a decree in a 2024 commercial dispute pitting Infinity Industrial Park Limited against the bank, in which the court entered judgment for the amount, after Infinity withdrew most of its original prayers.
The legal dispute originates from a Sh1.97 billion bank loan facility advanced in 2019 to finance Infinity’s industrial park development.
The company alleged that delays in releasing charged land and related financing constraints disrupted the project, while the bank maintained that the borrower had fallen into arrears and that it was entitled to retain its security.
Infinity had initially sought orders stopping the bank from selling or interfering with its approximately 200-acre project land in Njiru, along Nairobi’s Eastern Bypass. It sought a Sh650 million facility for a second warehouse cluster or release of 15 acres to obtain financing elsewhere.
It also alleged delays in releasing title documents and land, and sought a payment moratorium, withdrawal of adverse credit-reference listings and damages.
Those prayers were withdrawn through a notice dated August 6, 2026, which the court allowed and adopted. The remaining claim produced the Sh2.99 billion judgment.
The dispute began with the Sh1.97 billion loan facility advanced by Bank of Baroda in 2019. The financing comprised a takeover loan from Equity Bank, a fresh overdraft and a new term loan, secured against several properties.
Infinity told the court that it was developing an industrial park and logistics project for small and medium-sized businesses on land with a projected 15-year development period and capacity for up to 1,000 enterprises. It was designed to provide industrial plots, warehouses and supporting infrastructure for SMEs.
Infinity says it made substantial repayments, including Sh500 million in principal and Sh800 million in interest by December 2023. It says it repeatedly sought restructuring and partial release of charged land to raise funds.
The company says it offered Sh250 million in December 2025 for release of 10 acres, but the proposal was rejected.
The case took a turn after the bank failed to file its defence within the prescribed period, leading to a default judgment in September 2025.
The court also dismissed the bank’s July 2026 attempt to set aside that judgment. The court found the bank had participated in proceedings but failed to comply with court directions.
“The failure to comply with the court’s timeline is not attributable to the absence of formal summons; it is simply a case of non-compliance with a court order,” the court ruled.
The bank blamed its former lawyers for failing to communicate directions concerning its defence, while maintaining that its intended defence raised issues about the security, amount claimed and loan dispute.
The bank’s position in the wider dispute has been that Infinity defaulted and that it was entitled to exercise its rights as a secured lender.
The dispute has also expanded into a separate fight over the bank’s attempted appointment of joint administrators to Infinity in August, with the company challenging the move in court.
