Court of Appeal Justices, Alphonse Owiny Dollo; Cheborion Barishaki and Stephen Musota have today agreed with earlier ruling by Commercial Court Judge, Hon Mr. Justice David K. Wangutusi’s August 26th 2019 that a bank in receivership, under the Financial Institutions Act (2004) cannot sue or be sued and therefore and therefore Crane Bank (in receivership) cannot and should not have sued businessman Dr. Sudhir Ruparelia and his company Meera Investments. Delivering their ruling today, Civil Appeal 252 of 2019 at the Court of Appeal, the trio also ruled that Crane Bank (in receivership) being a foreign owned bank, cannot own…
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The Ruparelia Group Chairman and Meera Investments Managing Director, Dr. Sudhir Ruparelia, has declined to appear before Parliament’s Committee on Statutory Authorities and State Enterprises (COSASE) investigating acquisition of properties from the Departed Asians Properties Custodian Board (DAPCB) saying he did not buy any property from the board and therefore does not understand why he should appear before the Hon Ibrahim Kasozi– led select committee. COSASE had invited Sudhir to appear before the committee to explain how he acquired five properties that a whistle blower alleged were never repossessed from DAPCB and should be in government possession. The businessman…
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In 3 years alone, dfcu has earned in excess of UGX60 bn in profits from the Crane Bank deal. Add that to the UGX39 billion dfcu was aided to evade in interest on the deferred purchase price to the UGX37 billion profit dfcu stands to make, if BoU goes ahead to pay the UGX47 billion claim, dfcu Bank will have earned about UGX140 billion- that is all before they even complete the full UGX200bn purchase price for Crane Bank!
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Ruparelia Group’s property development arm, Meera Investments Ltd, will today, Spetember 14th, 2019 officially launch their Electrical Plaza building, a mixed use property in the Central Business District. Located on Plot 11 Market Street at the confluence of Market Street and Kiyembe Lane, Electrical Plaza is made up of 220 shops, 56 apartments and 2 floors of parking. Booking is…
Commercial Court’s Hon Mr. Justice David K. Wangutusi, will on Monday August 26th rule whether the case brought against city businessman and Ruparelia Group Chairman, Dr. Sudhir Ruparelia by Bank…
The Ruparelia Group Chairman and Meera Investments Managing Director, Dr. Sudhir Ruparelia, has written to the Speaker of Parliament, Rt Hon Rebecca Kadaga, protesting a planned move by the Public…
