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TodaySunday, May 03, 2026

Sudhir vs Bank of Uganda- Page 2

A court battle mounted by Dr. Sudhir Ruparelia (right), against what he says and parliament has found out to be an illegal takeover of his bank, has exposed a lot of rot in Mutebile's Bank of Uganda.

BoU’s purported liquidation of Crane Bank illegal- financial lawyers speak out

Attempts by Bank of Uganda to liquidate Crane Bank are illegal and could cost taxpayers more money, should it go ahead, several lawyers that CEO East Africa magazine has spoken to have
November 14, 2020
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The petitioners want Dr. Louis Kasekende the former Deputy Governor; Mrs Justine Bagyenda, the former Executive Director, Commercial Bank Supervision and Benedict Sekabira, the current Director Financial Markets Development to be brought to justice.

CID confirms commencing investigations against Kasekende, Bagyenda and Sekabira

Slightly over two years after an investigation by the Parliamentary Public Accounts Committee on Commissions, State Authorities and State Enterprises (PAC – COSASE) ended, with stern recommendations to punish Bank of Uganda
July 5, 2020
Businessman Sudhir Ruparelia (centre) together with his son Rajiv Ruparelia and KAA lawyers at the Court of Appeal in Kampala after his second-round Court of Appeal win. KAA has appealed to Bank of Uganda to go to Supreme Court if they are disatisfied with the Court of Appeal ruling insead of making false and inaccurate statements in the media.

“FALSE AND INACCURATE”; Sudhir’s lawyers tear apart BoU’s media statement on its planned court appeal

Kampala Associated Advocates, the law firm representing Dr. Sudhir Ruparelia, has dismissed as “inaccurate and false,” the contents of a media statement made by Bank of Uganda regarding its intended appeal against
July 3, 2020
LEFT-RIGHT: Former BoU Deputy Governor, Dr. Louis Kasekende, former Executive Director, Supervision, Mrs Justine Bagyenda and Governor, Prof Emmanuel Mutebile. Kasekende and Bagyenda were variously accused of negligence in the variously gone-wrong bank closures.

ROGUE REGULATOR? A timeline of how BoU asset-stripped, took over and illegally sold Crane Bank but is now being choked by the long arm of the law

2015: For much of 2015, interest rates rose sharply, opening the year at an average 21.69% and by February 2016, had reached a 4-year high of 25.22%. This was partly due to
June 26, 2020
Businessman Sudhir Ruparelia (centre) together with his son Rajiv Ruparelia and KAA lawyers at the Court of Appeal in Kampala after his second-round Court of Appeal win. KAA has appealed to Bank of Uganda to go to Supreme Court if they are disatisfied with the Court of Appeal ruling insead of making false and inaccurate statements in the media.

How Sudhir Defeated BoU to Retain Crane Bank Branches

City Mogul, Sudhir Ruparelia of the Ruparelia Group is in up mood having defeated Bank of Uganda’s attempt to take over properties formerly housing the defunct Crane Bank. Sudhir has since 2017
June 25, 2020
Dr Sudhir Ruparelia addresses a media conference soon after Commercial Court dismissed the BoU case. He said everyone who participated in the illegal closure, takeover and sale of Crane Bank would be made to pay

I will pursue BoU in court, to the end; if I die, my son will take over- Dr. Sudhir vows

Ruparelia Group founder and Chairman Dr. Sudhir Ruparelia has said he is ready to legally pursue Bank of Uganda and make them pay for illegally taking over his bank, till the very
September 14, 2019
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