KCB Bank Takes Over Eslon Plastics After 59 Years of Operation

Eslon Plastics, a popular pipe manufacturing company in Kenya that has been operational for about 59 years, has been placed under receivership by KCB Bank.

In a notice dated Tuesday, September 23, 2025, KCB announced the appointment of Joy Vipinchandra Bhatt as the Receiver and Manager of the company, effective September 18.

“Notice is hereby given that Mr. Joy Vipinchandra Bhatt has been appointed as the Receiver & Manager (‘The Receiver’) of Eslon Plastics of Kenya Limited, Nairobi, on 18th September 2025 by KCB Bank Kenya Limited,” read part of the notice.

The bank further notified all stakeholders that, following the Receiver’s appointment, the company’s affairs will henceforth be directed by the Receiver.

KCB Places Eslon Plastics Under Receivership

Additionally, his authority extends to all assets and undertakings of the company, and only he or his duly authorized representatives are permitted to handle the company’s assets.

At the same time, KCB cautioned that any individual engaging in transactions involving the company’s assets without the Receiver’s written consent would face legal consequences.

“Any person who purports to hold, receive, use, or attempt to buy or sell, contract, or otherwise deal with the assets of the Company without prior written consent of the Receiver shall be acting in contravention of the law and shall be liable to legal action,” the bank warned.

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Furthermore, the notice clarified that the Receiver will act on behalf of the company without any personal liability.

All claims or inquiries relating to the company should be addressed to the Receiver at:

The Receiver and Manager
Eslon Plastics of Kenya Limited (In Receivership)
C/o P.O. Box 69952-00400, Nairobi
Tel: +254 724 887250
Email: [email protected]

About Eslon Plastics

Eslon Plastics of Kenya Limited is one of the oldest and most renowned manufacturers of plastic piping systems in East Africa. Established in 1966, the company has built a strong legacy over nearly six decades, serving diverse infrastructure needs across the region.

Headquartered in Nairobi’s Industrial Area, Eslon Plastics specializes in the production of uPVC and HDPE pipes and fittings, widely used in water supply, sewerage systems, irrigation, plumbing, and fibre optic cable installations.

Companies Placed Under Receivership in 2025

Eslon Plastics becomes the latest business to be taken over by a bank. Since the beginning of 2025, several other companies have also been placed under receivership, among them Eastland Hotel, Upper Hill Hotel, and Nyakoe Hotel.

Circumstances Under Which Companies Are Placed Under Receivership

Receivership is a legal process that allows lenders to recover money when a company fails to make loan payments. A receiver may also be appointed during a shareholder dispute to complete a project, sell assets, or dispose of the business.

Also Read: List of Major Kenyan Companies Acquired by Other Firms in 2025

Common circumstances leading to receivership include:

• When a company fails to meet its payment obligations, a secured creditor (such as a bank) can appoint a receiver to take control of collateralized assets and sell them to recover the outstanding debt.
•  A company may be placed under receivership if its liabilities exceed its assets and it cannot meet debt obligations as they fall due.
• A court may appoint a receiver if there is a risk that a company’s assets could be wasted, hidden, or mismanaged, ensuring they are preserved for the benefit of creditors.

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