Imperial Bank has assumed control of Salute Holdings, the Nairobi-based company behind iWorld, a major authorized Apple products seller in East Africa. This action is part of the bank’s broader efforts to recover outstanding debts as it undergoes closure and asset liquidation.

On May 5, 2026, Kamal Anantroy Bhatt of Anant Bhatt LLP was appointed receiver and manager under Kenya’s Insolvency Act. This appointment removes operational authority from Salute Holdings’ directors, including founder Vivek Mehra, transferring full control to Bhatt. A public notice issued by Bhatt emphasized that no transactions involving the company’s assets can occur without his explicit written consent, warning that unauthorized dealings may lead to legal consequences.

About Salute Holdings and iWorld

Established in 1999 by Vivek Mehra, Salute Holdings evolved from a distributor of international consumer brands to a diversified group. Its flagship business, iWorld, retails Apple products such as iPhones, iPads, Macs, Apple Watches, and AirPods, and provides Apple-certified repairs. The group also markets accessories from brands like Belkin, Promate, and Beats.

Beyond Apple products, Salute Holdings operates SportsPlanet, a sports retail chain featuring Nike, Adidas, and Puma gear, and Sensations, a retailer specializing in premium audio and lifestyle electronics.

Receivership Process and Wider Context

  • Creditors have 30 days to submit claims to the receiver.
  • Company directors must provide a comprehensive financial statement within 12 days.
  • Bhatt has also placed Sparetech Trading Company and Mawa Dairy Farm under receivership due to debts owed to Imperial Bank.

Imperial Bank has been under government receivership since October 2015 following revelations of large-scale fraud involving insider lending and irregular transactions. While some assets and liabilities were transferred to KCB Bank Kenya, the bank continues to focus on recovering bad debts to repay depositors and creditors.