Judgement: Commercial court dismisses BOU case against Dr. Sudhir

Sudhir-Ruparelia-with-his-son-Ranjiv

The High Court Commercial Division has this morning dismissed with costs the Central Bank and Crane Bank (In Receivership) case worth USD100M against City businessman Dr. Sudhir Rupareila The judge dismissed the suit over lack of legal basis to sue and ordered BOU to pay costs to the businessman, who had been accused of taking Shs397b out of the financial institution in fraudulent transactions and land title transfers. It should be remembered that Dr. Sudhir had earlier on said that when Crane Bank went into receivership, it lost its powers…

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It’s today: Sudhir Vs BoU UGX 397Bn Case set for hearing

Sudir

The Commercial High Court in Kampala will today give its decision on the preliminary objection by Dr Sudhir Ruparelia in the case where Central Bank of Uganda dragged him to court seeking to recover shs 397bn. Before Justice David Wangutusi, Dr Ruparelia through his lawyers of Kampala Associated Advocates asked court to dismiss the Central bank’s case arguing that the bank wrongfully sued him. It should be noted that Bank of Uganda on January 25, 2017 placed former Crane Bank under receivership and in the same year, the bank sued…

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