By GRACE CHAILE LESOETSADEVELOPMENT Bank of Zambia (DBZ) has denied breaching the provisions of the banking and financial services Act of 2017, saying Chita Lodge limited is justly indebted to it in the amount of K97 Million.In this matter, DBZ has sued Chita Lodge, Mr James Chungu and another shareholder, Babsie Bulaya over an unpaid debt of K97 million.The applicant is seeking interest on the amount due of K97, 907,282.31 as at October 25 this year.It also seeks an order of possession of the properties namely, stand no.3705, Lusaka, stand no.1450, Samfya and Subdivision no.21 of farm no.484a, Lusaka.DBZ wants an order of foreclosure of the mortgaged properties and that the same properties are put on sale.It wants the court to order Mr Chungu and Bulaya as guarantors to pay the said amount.But in an affidavit in opposition, Mr Chungu has submitted that the company had paid a total of K 26,746,302.40 from the total […]
DBZ INSISTS CHITA LODGE OWES K97M
