The High Court QUASHED HELBβs insane Ksh. 540,000 penalties against a borrower.
In Mugure & 2 Others v HELB (2021), a student borrowed KES 82,000 but HELB ballooned it to KES 540,000.
HELB claimed the in duplum rule didnβt apply to them because it was not a Bank and but a statutory lender
The Court disagreed.
The in duplum rule binds EVERY lender, including HELB.Don't pay more than twice the principal!