PULSES AND AGRO COMMODITIES (TANZANIA) LIMITED VS BANK OF BARODA (TANZANIA) LIMITED (CIVIL APPEAL NO. 205 OF 2021) [2024] TZCA 1266 (12 DECEMBER 2024)

Abstract

This is an appeal against the decision of the High Court of Tanzania, Commercial Division, at Arusha (the trial court) dated 27th November 2020 in Commercial Case No. 8 of 2020. The respondent had sued the appellant for recovery of United States Dollars (USD) 1,917,024.87 as an outstanding debt, interest on the debt at commercial rate computed from 20th March, 2020 to the date of judgement, interest on decretal amount at the court's rate from the date of judgment till full and final satisfaction of the decree, costs of and incidentals to the suit, together with other reliefs resulting from the breach of the terms of Facility Agreement between them. The appellant denied being in breach of the terms and conditions of the said Facility advancing business expansion to be the reason of delay in servicing the loan. The trial court determined the suit in favour of the respondent. The appellant was not satisfied, hence, the present appeal.