Billionaire Dr. Sudhir laughs last, as dfcu Bank is ordered to vacate and repair his 48 properties and compensate him UGX2.4 billion  He who laughs last laughs best! Exactly 7 years and 4 days, after Bank of Uganda, on October 20 2016 seized Crane Bank Limited, then one of Uganda’s top three banks, and subsequently sold it to dfcu Bank on January 24, 2017, the shareholders of Crane Bank are having the last laugh.

On October 24th 2023 the High Court in Kampala ruled that dfcu Bank illegally transferred to itself, 48 properties that Crane Bank had leased from Meera Investments before the seizure. Meera belongs to Dr. Sudhir Ruparelia, Crane Bank’s second-largest shareholder at the time. Court has now ordered dfcu to pay UGX2.4 billion to Meera Investments over and above repairing and restoring all the 48 properties into tenantable position. But that’s not all, the Bank of Uganda has since lost the Court battle against the businessman and is now facing hundreds of billions in costs and damages, and the entire transaction…