A bird’ s-eye view of the Ruparelia Residence. Although the general house was designed mainly by Jyostna Ruparelia, Sudhir’s wife, working together with Kristine Kirsten, the Group architect, each of the Ruparelia family members had a chance to design their own living spaces. Dr. Sudhir Ruparelia is undoubtedly Uganda’s richest man and one of East Africa’s top 5 wealthy people. His Meera Investments Ltd is the largest developer of commercial and residential space, with over 300 properties all over Uganda and owns the largest number of ongoing real estate projects and is the biggest private owner of commercial land in…
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Troubled businessman, Architect Peter Kamya of Simbamanyo Estates has admitted having cheated court filing fees and rushed to court to pay UGX 81,750,000 as his court bid to win back two foreclosed properties- Simbamanyo House and AfriSuites Hotel. Last week, we reported that Walusimbi & Co. Advocates, the lawyers representing Meera Investment Limited (MIL) the company that bought Simbamanyo House from Equity Bank had raised a red flag to court on the fact that Peter Kamya had cheated court on the filing fees. “We are aware that in both HCCS No. 837 of 2020 which was abated and in the…
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The wheels of justice turn slowly, but grind exceedingly fine, Bank of Uganda has sadly learnt, albeit too late. This is after pouring several billions of taxpayer money, down the pockets of several of its highly billed external law firms, in what would eventually amount to putting good money after bad money. But let us rewind the clock first, back to 2016. The Central Bank, on 20th October 2016, at the command of the then Deputy Governor, Dr Louis Kasekende and Director of Commercial Bank Supervision, Justine Bagyenda, in the exercise of their statutory powers, seized Crane Bank, at the…
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Businessman Sudhir Ruparelia, through his lawyers led by Kampala Associated Advocates, has sued the Bank of Uganda (BOU) Legal head Margaret Kaggwa Kasule for contempt of Court. “Our client was the successful party in Court of Appeal Civil Appeal 252 of 2019 Crane Bank Limited (In Receivership) vs Sudhir Ruparelia & Another where the Court of Appeal upheld the decision of the High Court in High Court Civil Suit 493 of 2017 to wit that the 131 Respondent had no locus to institute proceedings against the Applicant and its plaint did not disclose a cause of action,” part of the notice of…
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After several court losses, the Bank of Uganda has withdrawn its UGX397 billion case against Dr. Sudhir Ruparelia and his Meera Investments Limited. The case had now reached at Supreme Court, following BoU’s losses with costs, at both the Commercial Court and Court of Appeal. Both courts had ruled that Crane Bank (In receivership) has no locus to sue since the Financial Institutions Act 2004 only allowed Banks in liquidation and statutory management to sue and be sued. The court ruled that a bank under receivership cannot sue. The two Courts also ruled that Crane Bank (In Receivership), over and…
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Property magnate Sudhir Ruparelia has opened up Kampala shopping malls under Crane Management Services (CMS) Limited and urged tenants and clients advised to strictly observe the Standard Operating Procedures (SOPs) put in place by the Ministry of Health. The shopping malls under Crane Management Limited include; Kampala Boulevard, Eagle Plaza, Hardware Plaza, Market Plaza and Royal Plaza, among others. The conditions put in place at the opened shopping centers are; 1. Wear Your Face Mask 2. Sanitize 3. Observe Social Distance 4. Wash Hands Accordingly, 24-hr Surveillance has been put in place to ensure compliance to the mentioned SOPs. The Cube…
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Court has dismissed with costs a case in which businessman Amos Nzeyi had accused Bank of Uganda (BOU) of illegal closure of the National Bank of Commerce (NBC). Nzeyi co-owned NBC with former premier, Amama Mbabazi and Prime Minister Dr Ruhakana Rugunda. In 2017, Nzeyi sued BOU jointly with Crane Bank (in receivership), its former proprietor Sudhir Ruparelia and his partner Rasiklal Chhotalal Kantaria. Nzeyi later added on dfcu Bank which took over Crane Bank. Justice Steven Mubiru of the Commercial Division of the High Court dismissed the case citing failure of the complainant to present evidence. He reasoned that…
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Kampala City Traders Association (KACITA) has lost a case in which it was seeking orders to stop Crane Management Services Limited and 16 other landlords from collecting three months’ rent arrears that accrued when arcades closed during lockdown. The Commercial Division of the High Court dismissed the case citing failure of the traders’ association (KACITA) to prosecute their case. The court also ordered KACITA to pay legal costs incurred by Crane Management Services and the other 16 accused parties. Other accused parties include; Ntake Bakery Limited, Apple Properties Limited, Godfrey Kyeswa, Aponye House Limited, James Mugabi, Drake Lubega, Ham Enterprises…
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The sub-committee of the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has exonerated property mogul Sudhir Ruparelia after its probe found that he genuinely owns the Plot 24, Kampala road. The Departed Asians Properties Custodian Board (DAPCB) had in July 2019 told the probe sub-committee chaired by Makindye East MP Ibrahim Kasozi that tycoon Sudhir’s property was never reposed by the original proprietors before selling it to him. But, in its report to Parliament that is set to be presented and adopted today, the probe sub-committee listed the country’s money magnet as the rightful owner of the…
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With Tagore Living and Bukoto Living projects nearing completion and already on the market, Meera Investments, the real estate development arm of the Ruparelia Group will this March, start constructing Uganda’s largest luxury homes project- the One-10 Apartments. To be built on Prince Charles Drive, in Kololo- Kampala’s and Uganda’s most prime residential location, the project consists of 156 luxury 2,3 & 4 apartments, all of them, for sale. The complex also will have a luxurious swimming pool and luxury bars and lounges and a host of other shared spaces. CEO East Africa Magazine, understands that ground-breaking for the…
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