BREAKING: Sudhir Ruparelia Acquires Simbamanyo House Meera Investments acquired the building through an auction put up by Equity bank in order to recover an unpaid loan amounting to US$8.1 million (UGX30 billion)

Sudhir Ruparelia, under Meera Investments Limited – an investment arm of the Ruparelia Group of Companies, is the new owner of Simbamanyo House on Plot 2 Lumumba Avenue, home to Ministry of Gender, Labour and Social Development. Meera Investments acquired the building through an auction put up by Equity bank in order to recover an unpaid loan amounting to US$8.1 million (UGX30 billion) Equity Bank and Simbamanyo Estates have been embroiled in a court battle over the building for a long time now after the later failed to clear a loan with the bank. CL Risk Management Services, who auctioned…