Several public officials, most recently Investment Minister Evelyn Anite have talked about “mafia” in government but one man Dr. Sudhir Ruparelia knows how to win against them. And unlike public figures who fear to mention the mafia, Sudhir didn’t shy away from saying that former BoU Executive Director In Charge of Commercial Bank Supervision Justine…
Bank of Uganda (BoU) had a torrid 2017 as the Crane Bank saga weighed on the country’s central bank. What began as an everyday activity to supervise and regulate the banking sector when they took over and subsequently sold Crane Bank to DFCU turned out to be a big speck in the late Emmanuel Tumusime-Mutebile led…
Minutes after legally slaying Bank of Uganda, for the ninth time, but this time for good, Dr. Sudhir Ruparelia, hit at certain officials of the central bank for stealing his bank, unnecessarily dragging him to court and prolonging the case for selfish gains. “These people stole my bank. They shared the legal fees in Bank…
Bank of Uganda (BoU) had a torrid 2017 as the Crane Bank saga weighed on the country’s central bank. What began as an everyday activity to supervise and regulate the banking sector when they took over and subsequently sold Crane Bank to DFCU turned out to be a big speck in the late Emmanuel Tumusime-Mutebile led…
The controversy between Crane Bank and Bank of Uganda came to an end after businessman Sudhir Ruparelia obtaining a final Supreme court order allowing him to revert Crane bank back to its shareholders. In January 2017, Crane bank was acquired by dfcu bank at Shs 200 billion after the central bank ruled that it was…
The Supreme Court decision directing that Crane Bank Ltd be reverted to its owners has raised a lot of mixed feelings, for it comes with a legal and cost implication which in one way or another will affect the ordinary Ugandan. The costs associated with the case will naturally be forked from the consolidated fund…
How did Dr. Louis Kasekende, a man who was well on track to become a Governor end up spending the last 3 years of his 33-year career making headlines for all the wrong reasons? Law No. 1 of 48 laws of power: Never outshine the master! Make your masters appear more brilliant than they are and…
An analysis by Cymbell Advocate, a commercial law firm in Kampala, questions the Bank of Uganda on the consequences of the lost cases against city tycoon Sudhir Ruparelia in the fight for the defunct Crane Bank which now is believed was illegally shut down and sold off by the Central Bank. On 30th June 2017…
On February 11, businessman Sudhir Ruparelia won yet another victory in the Supreme Court against Bank of Uganda over the fate of Crane Bank. The central bank closed Crane Bank in October 2016 claiming it was undercapitalised. The latest ruling is a culmination of a running battle between the central bank and Sudhir for four…
Pressure and panic from Bank of Uganda (BoU) officials continue to leak to the public over the recent Supreme Court ruling in which the Bank was ordered to ‘vomit’ mogul Sudhir Ruparelia’s Crane Bank but also cough to him billions of all the charges he has incurred in the last five years of endless legal…
