Court recalled the search warrant for RMS SK Macharia…

The billionaire asserted that the court did not afford him sufficient time to present his defense; hence, the accurate depiction of the circumstances was not obtained prior to the issuance of the orders. According to court documents, it was emphasized by Macharia that Terry Wanjiku Kiarie is not a shareholder of Directline Company Limited and, therefore, is ineligible to represent the shareholders.

Through his legal representative, Danstan Omari, Macharia asserted that as the rightful shareholder of Directline, he possessed the authority to dissolve the company, which holds a majority stake of 70 percent in the public service insurance sector.

The Department of Criminal Investigation (DCI) had filed a petition in court to reclaim three vehicles belonging to the media mogul.

Additionally, the agency desired to conduct a search at RMS for documents that could assist in the case.

The reason for this court case is that Royal Media Services and Royal Media Credit are two separate entities, with Macharia serving as the chairman for both. Earlier, Macharia had gone to the Milimani Law Courts seeking to be reinstated, along with his wife, as the rightful owners of the Directline Company. In the petition, SK Macharia called for accountability concerning the Ksh8 billion  in premiums that were allegedly misappropriated from policyholders.

Through his legal representatives, the media tycoon contended that the original CR12 had been tampered with and the shares of rightful owners were redistributed. A CR12 is a legal document or Certificate issued by the registrar of companies, which provides information about the directors and shareholders of a company.