Exon Plastic Directors Lose Control After Receiver Takes Over Company
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Exon Plastic Limited has officially been placed under receivership following the appointment of Kamal Anantroy Bhatt of Anant Bhatt LLP as the company’s Receiver and Manager.
According to a notice dated July 20, Kamal Anantroy Bhatt was appointed by Imperial Bank Limited in Liquidation on May 5, 2026, to take charge of the company’s management, business and assets.
“ Notice is hereby given that Kamal Anantroy Bhatt, of Anant Bhatt LLP, was appointed as the Receiver and Manager (“The Receiver”) of EXON PLASTIC (K) LIMITED (“the Company”) on 5th May 2026 by Imperial Bank Limited (In Liquidation) (“the Bank”),” read part of the notice.
Exon Plastic Faces Receivership After Receiver Appointment
According to the notice, the Receiver has authority over all the company’s assets and undertakings, making them and their authorised representatives the only individuals permitted to manage, dispose of or transact on behalf of the company.
As a result, the powers previously held by the company’s directors to deal with its business and assets no longer apply.
“The powers of the Receiver extend to all assets and undertakings of the company. Only the Receiver and his representatives are authorised to deal with assets of the Company. The powers of the Directors in terms of dealing with the Company’s business and assets no longer apply,” read part of the notice.
The notice further warned that any individual who attempts to hold, receive, use, buy, sell, or otherwise deal with the Exon Plastic assets without the Receiver’s prior written consent will be acting in contravention of the law and may face legal action.
The Receiver will oversee all matters relating to the company’s assets while acting on behalf of the company without incurring personal liability.
Directors Given 12 Days to Submit Financial Statement
In addition, the notice urged creditors who believe they are owed money by Exon Plastic (K) Limited to lodge their claims with the Receiver within 30 days from the date of the notice.
The move is expected to assist the Receiver in establishing the company’s outstanding obligations as the receivership process progresses.
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The notice also directed the company’s directors to furnish the Receiver with a Statement of Affairs within 12 days.
Meanwhile, the Statement of Affairs is expected to provide details of the company’s financial position, including its assets, liabilities and creditors, to support the administration of the receivership.
Stakeholders with claims, queries, or other matters relating to Exon Plastic (K) Limited have been advised to channel all correspondence through the Receiver’s office at Anant Bhatt LLP.
Anast Bhatt LLP-at Floor City Hos, Nyerere Avenue, Mombasa
Email: meranandhaft.com
Website: www.anthom
P.O Box 00766-00100,
Telephone: 0726241505
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A photo showing notice on Exon Plastic Receivership. Photo / File