
HAM VS DTB CASE: DTB ADMITS TO COMMITTING ILLEGALITIES, HAM FILES AND AWAITS JUDGEMENT ON ADMISSIONS IN THEIR SUBMISSIONS.
Brief History
Ham Enterprises (U) Limited (The company) and Diamond Trust Bank (The Bank) had a 10 Year long term Banking relationship where Ham Enterprises (U) Limited as the client made huge transactions on its accounts with the bank equally extending Loan facilities to the company and the company would promptly pay off these loans until an outstanding balance of USD 10,000,000 (United States Dollar – Ten Million only) which the company claims was not reducing despite having paid huge amounts of money towards loan clearance over time.
The company therefore decided to carry out a figurative and legal Audit on all its accounts through which Audit report from the company’s accounts and Loan statements availed from the Bank records revealed that all loans were already paid to zero balance a...