Diamond Industries Limited, the manufacturer of the popular Panga Soap brand, Sunpride cooking oil, and Raha cooking fat, has been placed under receivership by KCB Bank Kenya Limited.

According to a gazette notice, Joy Vipinchandra Bhatt has been appointed as the official Receiver and Manager of the company, effective May 22, 2025.

Further, the notice explained that Diamond Industries was previously under administration, a process meant to help struggling businesses stabilise.

“Notice is given that Joy Vipinchandra Bhatt has been appointed as the Receiver and Manager “The Receiver” of Diamond Industries Limited, Mombasa, on the 22nd May, 2025, by KCB Bank Kenya Limited.

Diamond Industries Limited Stakeholders Notified

Stakeholders were informed that all affairs of Diamond Industries will now be directed by the Receiver, who has full control over the company’s assets and operations.

The notice also warned that any person engaging with the company or its assets without the written consent of the Receiver could face legal action.

“This is to notify all interested stakeholders that following the Receiver’s appointment, the affairs of the company shall be directed by the Receiver, whose powers extend to all assets and undertakings of the Company.

“Only the Receiver and his duly approved representatives are authorised to deal with the assets of the company,” added the notice.

Spirit of the Maasai Mara Transfers Business to Turaco Properties Limited

At the same time, the Spirit of the Maasai Mara Limited, a luxury safari lodge and tourism operator in Narok County, has formally announced the transfer of its business operations to Turaco Properties Limited.

The transfer is in line with sections 3 and 4 of the Transfer of Businesses Act (Cap. 500) of the Laws of Kenya.

According to the public notice, Spirit of the Maasai Mara Limited, incorporated under registration number CPR/2012/73416, has entered into a binding agreement dated 7th May 2025, to transfer substantially all of its business assets to Turaco Properties Limited.

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Further, the transfer includes assets located on Title No. CISMARA/SIANA “A”/2477, where the luxury lodge operates.

Turaco Properties Limited, registered under number PVT-AAAFAYO, will take over the operations and assets of Spirit of the Maasai Mara once all conditions outlined in the agreement are fulfilled.

These include legal, operational, and financial checks necessary to complete the transition.