Sheena Ruparelia is a Director at Ruparelia Group since January 2017.The Group is one of Uganda’s largest business conglomerates with investments in financial services, real estate, education services, hospitality, agriculture and media/broadcasting. After completing her Economics and Accounting degree at the City, University of London, Sheena returned to Uganda to join the Group as the Business Development Manager of the former Crane Bank Limited until 2016 when the bank closed. In 2017, she then joined the Group’s real estate development arm – Meera Investments as a Director. She is also involved with the hospitality and property arms of the Group. For the last…
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Meera Investments Limited, the real estate arm of the Ruparelia Group, has written to Hon. Matia Kasaija, the Finance Minister taking exception to a number of proposed tax amendments saying that should they be made into law, they will adversely affect the growth of the real estate sector. In a 2nd April 2020 letter, the Meera Investments’ Managing Director and founder, Dr. Sudhir Ruparelia called out specific clauses in The VAT Amendment Bill 2020 and Income Tax Amendment Bill 2020 saying that these clauses would cripple the sector. “We have had consultations with our tax lawyers, Kampala Associated Advocates, and…
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dfcu Bank, was reluctant to transfer into its name, the 48 properties it acquired in the now-heavily contested and controversial Crane Bank acquisition, fearing that Bank of Uganda and Crane…
City Businessman and billionaire Dr Sudhir Ruparelia, has applied to the Commercial Court to dismiss a case brought against him and his real estate firm, Meera Investments Ltd by Bank…
The commercial court, will on Monday, April 29th rule on whether city law firm Sebalu & Lule Advocates can represent dfcu Bank in a case brought against the bank by billionaire businessman Dr. Sudhir Ruparelia. The businessman, through is real estate management company Crane Management Services (SMS) dragged the law firm to court over what he says is conflict of interest, since the law firm has been CMS’ previous lawyers. He argues that their being attorneys for dfcu is in violation of the advocate client relationship and the Advocates (Professional Conduct) Regulations and therefore injurious to CMS. Businessman and…
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The Central Bank had statutory powers to take over Crane Bank, its assets and liabilities, but did it stretch this a little too far when it decided to claim 42 properties that were occupied by Crane Bank but belonged to Meera Investments? Did Dfcu’s transaction advisors and lawyers mislead them to fall for the Central Bank position even when they perhaps knew that Central Bank did not have regulatory jurisdiction over Meera, which is not a financial institution? Or did the potential benefits of a juicy Crane Bank takeover, blind Dfcu to the potential risks? Well, the daggers are out,…
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