NAIROBI, Kenya,June 7 – Swaroop Rao Ponangipalli and Ponangipalli Venkata Ramana Rao have been appointed as joint administrators by Trance Towers Limited.
In a notice, the company announced that it has ceased all the powers of the directors in charge of the company’s assets following the appointment of the two joint administrators.
The real estate firm owns Trance Towers in the Nairobi industrial area for businesses.
“NOTICE is hereby given that Trance Towers Limited (“the Company”) was placed under Administration effective May 31 2024 with Swaroop Rao Ponangipalli and Ponangipalli Venkata Ramana Rao (PVR Rao) appointed as Joint Administrators (“the Administrators”), the company stated.
The two will now handle all the affairs and business of the company, and their powers as the company’s joint administrator will also extend to all the assets and undertakings of the corporation.
The firm noted that the administrators will act as the agents of the company without personal liability.
“Following the appointment, all the affairs and business of the Company are being conducted by the Administrators, whose powers extend to all assets and undertakings of the Company. The powers of the Directors in terms of dealing with the Company’s assets ceased,” it added.
It also directed any party holding a claim against the company to submit the claim in writing with relevant supporting documentation to the administrators no later than June 20, 2024.
