Tanzanian's High Court division in Dar Es Salaam has ordered singer Harmonize to pay a whooping Tsh 103 Million (Ksh 4,921,956) to CRB Bank.
Harmonize had taken loans from two credit facilities to build a studio and buy studio equipment but is reported to have not met the loan terms.
Harmonize also failed to appear in court severally.
Court documents seen by this writer noted that this is a default judgement "The plaintiff instituted the present suit praying for judgment and decree of the Court against the defendant. He sought the following reliefs: payment of Tshs 103,185,755.16 being outstanding loan under Credit Facility Letters between the parties; interest on the outstanding amount at the rate of 18% per annum; interest at the court's rate accruing from the date of judgment to the date of payment in full; general damages; costs and expenses incurred by the plaintiff; commercial rate interest of 25% per annum."
Judgment was made in favour of the plaintiff as follows:
a) The defendant is ordered to pay the plaintiff Tshs 103,185,755.16
b) The defendant is hereby ordered to pay the plaintiff interest on the outstanding amount at the rate of 18% per annum from the date of default to the date of this judgment. c) The defendant shall pay 7% interest on the decretal sum from the date of this judgment to the date of full payment.
12 d) The plaintiff is entitled to Tshs 10,000,000/= general damages from the defendant. e) The defendant shall pay costs of this suit. It is so ordered. The right of appeal is explained to parties.
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