Court dismisses UGX397bn BoU case against Sudhir; central bank ordered to pay costs
Dr. Sudhir Ruparelia and son, Rajiv Ruparelia together with lawyer Peter Kabatsi of KAA and city journalist and businessman Andrew Mwenda address a press conference outside the Commercial Court. Sudhir said he will launch a counter suit against the BoU and dfcu Bank.
A
bank in receivership, under the Financial Institutions Act (2004) is not
permitted to sue or sued and therefore, Crane Bank (in receivership) cannot and
should not have sued businessman Dr. Sudhir Ruparelia and his Meera
Investments, the Commercial Court has ruled.
In a landmark ruling today, August 26th by Hon Mr. Justice David K. Wangutusi, also ruled that Crane Bank (in receivership) bein