Naivasha-based flower firm Karuturi has sued Stanbic Bank and four receiver managers for allegedly thwarting its revival through mismanagement and secret acquisition of loans.
The employees accuse CFC Stanbic of demanding more money than it lent to Karuturi, saying the South African lender is responsible for the poverty that struck their families since Karuturi was placed under receivership, 3 years ago.
The lives of more than 3,000 people came to a standstill when the Karuturi flower farm shut its doors in May 2015 after being placed under receivership over accrued debt.
In a paid advert, the receiver managers detailed the items for sale but also indicated that the close to 125 hectares where the company sits would not be sold.
More than 3,000 former workers of the troubled Karuturi flower farm in Kenaya were surprised to learn of the sale of the firm's after property in the media.
The department of lands in Siaya County has recommended that a portion of the contested Yala swamp lands currently occupied by US-based Dominion Farms be set aside for the community.
In India, Karuturi is being accused of sexual harassment while in Africa his struggling flower business in Kenya and Ethiopia has withered – first over tax arrears and debts and later over land deals gone wrong.
Indian businessman Sai Ramakrishna Karuturi has been booked for allegedly sexually harassing a 23-year-old woman staffer of a spa centre in Bengaluru and abusing policemen who rushed to her help.
Karuturi Flower Farm in Naivasha has started negotiations for an out of court settlement with its creditors. The move is expected to kick-start the revival of the flower farm which was put under receivership in 2014.
