Standard Chartered Bank (Uganda) Ltd v The New Vision Printing & Publishing Corporation (Companies Cause No. 2 of 2006) [2006] UGHC 70 (15 May 2006)

{\rtf1\ansi\ansicpg1252\uc1\deff0\stshfdbch0\stshfloch0\stshfhich0\stshfbi0\deflang2057\deflangfe2057{\fonttbl{\f0\froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}{\f172\froman\fcharset238\fprq2 Times New Roman CE;} {\f173\froman\fcharset204\fprq2 Times New Roman Cyr;}{\f175\froman\fcharset161\fprq2 Times New Roman Greek;}{\f176\froman\fcharset162\fprq2 Times New Roman Tur;}{\f177\froman\fcharset177\fprq2 Times New Roman (Hebrew);} {\f178\froman\fcharset178\fprq2 Times New Roman (Arabic);}{\f179\froman\fcharset186\fprq2 Times New Roman Baltic;}{\f180\froman\fcharset163\fprq2 Times New Roman (Vietnamese);}}{\colortbl;\red0\green0\blue0;\red0\green0\blue255;\red0\green255\blue255; \red0\green255\blue0;\red255\green0\blue255;\red255\green0\blue0;\red255\green255\blue0;\red255\green255\blue255;\red0\green0\blue128;\red0\green128\blue128;\red0\green128\blue0;\red128\green0\blue128;\red128\green0\blue0;\red128\green128\blue0; \red128\green128\blue128;\red192\green192\blue192;}{\stylesheet{\ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 \snext0 Normal;}{\*\cs10 \additive \ssemihidden Default Paragraph Font;}{\*\ts11\tsrowd\trftsWidthB3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tscellwidthfts0\tsvertalt\tsbrdrt\tsbrdrl\tsbrdrb\tsbrdrr\tsbrdrdgl\tsbrdrdgr\tsbrdrh\tsbrdrv \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \fs20\lang1024\langfe1024\cgrid\langnp1024\langfenp1024 \snext11 \ssemihidden Normal Table;}}{\*\latentstyles\lsdstimax156\lsdlockeddef0}{\*\rsidtbl \rsid526777\rsid883575 \rsid3293013\rsid4069550\rsid13128528\rsid13632650\rsid15494655}{\*\generator Microsoft Word 11.0.5604;}{\info{\title THE REPUBLIC OF UGANDA}{\author rkasule}{\operator jchemeri}{\creatim\yr2009\mo3\dy17\hr15\min31}{\revtim\yr2009\mo3\dy24\hr17\min8} {\version3}{\edmins7}{\nofpages2}{\nofwords266}{\nofchars1518}{\*\company Acer Customer}{\nofcharsws1781}{\vern24689}}\widowctrl\ftnbj\aenddoc\noxlattoyen\expshrtn\noultrlspc\dntblnsbdb\nospaceforul\hyphcaps0\formshade\horzdoc\dgmargin\dghspace180 \dgvspace180\dghorigin1800\dgvorigin1440\dghshow1\dgvshow1 \jexpand\viewkind1\viewscale100\pgbrdrhead\pgbrdrfoot\splytwnine\ftnlytwnine\htmautsp\nolnhtadjtbl\useltbaln\alntblind\lytcalctblwd\lyttblrtgr\lnbrkrule\nobrkwrptbl\snaptogridincell\allowfieldendsel\wrppunct \asianbrkrule\rsidroot883575\newtblstyruls\nogrowautofit \fet0\sectd \linex0\endnhere\sectlinegrid360\sectdefaultcl\sftnbj {\*\pnseclvl1\pnucrm\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl2\pnucltr\pnstart1\pnindent720\pnhang {\pntxta .}} {\*\pnseclvl3\pndec\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl4\pnlcltr\pnstart1\pnindent720\pnhang {\pntxta )}}{\*\pnseclvl5\pndec\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl6\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (} {\pntxta )}}{\*\pnseclvl7\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl8\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl9\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}\pard\plain \qc \li0\ri0\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid526777 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\insrsid883575\charrsid526777 THE REPUBLIC OF UGANDA}{\insrsid15494655\charrsid526777 \par }{\insrsid883575\charrsid526777 IN THE HIGH COURT OF UGANDA AT KAMPALA \par COMPANIES CAUSE NUMBER 02 OF 2006 \par }\pard \ql \li0\ri0\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13128528 {\insrsid13128528 \par }{\insrsid883575\charrsid526777 STANDARD CHARTERED BANK (UGANDA) LIMITED ::: APPLICANT}{\b\insrsid883575\charrsid526777 \par }\pard \qc \li0\ri0\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid526777 {\b\insrsid883575\charrsid526777 VERSUS}{\insrsid883575\charrsid526777 \par }\pard \qj \li0\ri0\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid526777 {\insrsid883575\charrsid526777 THE NEW VISION PRINTING \par AND PUBLISHING CORPORATION :::::::::::::::::::::::: THE COMPANY \par \par }{\b\insrsid883575\charrsid526777 BEFORE: THE HON. AG. JUDGE REMMY KASULE \par }{\insrsid883575\charrsid526777 \par \par }{\b\insrsid883575\charrsid526777 RULING: \par }{\insrsid883575\charrsid526777 \par This application is made pursuant to Section 102 of the Companies Act and Order 34 A Rule 6 of the Civil Procedure Rules. \par }{\insrsid4069550\charrsid526777 \par The Court is being prayed to grant an extension of time within which to register Company Form A with the Registrar of Companies in respect of charges by way of a debenture/mortgage executed by the Company in favour of the applicant. \par \par The applicant Bank extended Credit facilities to the Company on 30}{\super\insrsid4069550\charrsid526777 th}{\insrsid4069550\charrsid526777 April, 1999 and the Company executed a mortgage and a debenture in favour of the appli cant Bank to secure repayment of the extended financial facilities. \par \par The mortgage and debenture were duly registered on 4}{\super\insrsid4069550\charrsid526777 th}{\insrsid4069550\charrsid526777 May 1999, but through in advertence Company Form 4 was not registered with the Registrar of Companies. \par \par The Application is supported by an affidavit of Mr. John Magezi Counsel for the Applicant Bank. \par \par The Court is satisfied that this is a proper case for the court to exercise its discretion to extend time by allowing the applicant to file Company Form 4 out of time. By granting such e xtension no injustice is caused to the Company. Registration, on the other hand, will ensure that what the Company agreed upon with the Applicant Bank is properly secured under the law. \par \par Accordingly the application is allowed. The applicant Bank is hereby granted an extension of time to register Company Form 4 within 15 days from the date of this order. \par \par The applicant is to bear the costs of this Application. \par \par \par }{\b\insrsid4069550\charrsid526777 Remmy Kasule \par Ag. Judge \par 15}{\b\super\insrsid4069550\charrsid526777 th}{\b\insrsid4069550\charrsid526777 May 2006 \par }{\insrsid4069550\charrsid526777 \par \par }{\insrsid883575\charrsid526777 \par \par }}