After nearly two decades of silence, oil tycoon, Yagnesh Mohanlal Devani has returned to the High Court of Kenya with a high-stakes demand: a full forensic audit of the long-running receivership of Triton Petroleum Company Limited, a move that could revive scrutiny into one of Kenya’s most controversial corporate collapses.

In a case now certified as urgent, the businessman, through Echessa & Bwire Advocates LLP, has sued the company’s receivers and managers alongside Kenya Commercial Bank, the Trade and Development Bank and the Central Bank of Kenya. The court has directed all respondents to file their replies within seven days, setting the stage for a closely watched legal showdown.

At the heart of the dispute is what Devani describes as a 17-year receivership clouded by secrecy. He argues that shareholders have never been furnished with a complete account of the company’s affairs since it was placed under receivership, raising fresh questions about oversight and governance.

Court filings point to gaps in disclosure on how Triton Petroleum’s assets were handled, sold or recovered over the years. The application also challenges the lack of clarity around expenses incurred during the process, suggesting that key financial details remain unexplained.

Devani further casts scrutiny on both lenders and regulators. He accuses the banks of failing to properly account for assets under their control, while alleging that the receivers breached their legal and fiduciary duties. The Central Bank of Kenya is also faulted for allegedly failing to intervene despite its supervisory mandate.

The tycoon is now seeking sweeping court orders, including a comprehensive forensic audit covering all assets, disposals, recoveries and expenditures over the 17-year period. He is also pushing for an independent inquiry into potential losses and misconduct, a determination of liability among the parties involved and compensation for damages suffered.

If granted, the orders could reopen a chapter many believed closed, placing the Triton saga back under the spotlight and raising broader questions about corporate accountability in Kenya’s financial sector.