Nairobi, Nov. 15 -- Victoria Commercial Bank has lost its bid to revive criminal proceedings against the directors of the popular Nyama Mama Restaurant over an alleged Sh520 million loan fraud after the High Court dismissed its application.

The court rejected the lender's application seeking to overturn the decision by Director of Public Prosecutions (DPP) Renson Ingonga to withdraw charges against Jayesh Shanghavi, his wife Nina Shanghavi and their company, Good Earth (Group) Ltd, saying the bank had failed to produce the decision it was challenging.

Published by HT Digital Content Services with permission from Business Daily....