SOCIETE GENERALE GHANA LTD. vs. AL-SAFA INTERNATIONAL TRADING LTD. AND MURKTAZA KHAN

Plaintiff claims jointly and severally the following reliefs endorsed on its writ issued against the defendants : i. The total sum of GHc369.209.68 being the outstanding balance and accrued interest as at 31st March, 2014 on an overdraft and revolving loan facilities granted to the 1st defendant by the plaintiff. ii. Interest at the prevailing bank rate on the said GHc369,209.68 from 1st April, 2014 till the final payment. iii. Further or other reliefs. In an eight paragraph statement of claim the plaintiff avers that on the 5th of March, 2014 upon 1st defendant’s request it approved and granted an overdraft facility of Ghc200.000 and a revolving loan facility of GHc150.000.00 to the 1st defendant which was to be retired within twelve months of disbursement. The loan granted had an interest rate of 25.5% per annum collectible monthly in arrears and a penal rate of 6% above the interest rate. Besides, in the event of expiration of the loan any amount of the loan due and unpaid was.....