Crane Bank Case Archives - The Capital Times

Crane Bank Shareholders On Cloud9 Again Over UK Court Ruling, Vow To Milk Billions From DFCU Bank Over ‘Fraudulent’ Takeover, Disturbing Their Peace!

Crane Bank and its shareholders are on cloud nine following a Wednesday ruling where the Court of Appeal from the High Court of Justice, Business and Property Courts in England, overturned the lower court’s decision, which had exonerated DFCU bank and its

July 30, 2023

Business·National News

‘An Audit That Never Is?’- After Losing 8 Court Cases, BoU Moves To Do Fresh ‘Audit’ On Defunct Crane Bank

Bank of Uganda (BoU) is seeking to hire an independent audit firm that will carry out a comprehensive audit on the current state of affairs of the now-defunct Crane Bank, six years after the same commercial bank was closed. According to an

November 8, 2022

Business

Crane Bank Fraud: Why Bank of Uganda Losses In Sudhir vs Crane Bank Left The Banker Of Bankers Naked Beyond Repair

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

July 16, 2022

Business·Crime

DAVID MAFABI: Embattled BoU Officials Who Closed & Fraudulently Sold Crane Bank Should Account Individually

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

July 10, 2022

Business

Two Months Later, What Next For Sudhir & Staggering BoU

The decision by the Supreme Court of Uganda that Crane Bank Ltd reverts to owners Sudhir Ruparelia and co-shareholders raised public excitement, for various reasons, including an assumed return of the bank into the banking industry. There were concerns about the financial

April 6, 2022

Business

Why Sudhir’s Lawyers Want Crane Bank Returned To It’s Original Share Holders

In January 2017, Crane Bank was acquired by DFCU Bank at a cost of Shs200 billion ($52.8 million) on grounds that it was undercapitalized as declared by the regulator Bank of Uganda. Crane Bank whose proprietor is businessman Sudhir Reparelia remained open

November 16, 2021

Business

BOU-SUDHIR CASE: It Is Supreme Court To Determine Costs As Withdrawal Isn’t Dismissal

It is the Supreme Court that will determine the costs to be paid to city businessman Sudhir Ruparelia by Bank of Uganda (BOU) in the long-running legal battle between the tycoon and his Meera Investments Ltd and the central bank, resulting from

November 16, 2021

Business

Big Story: Legislature Moves To Kick BoU Top Officials Out Of Juicy Positions Over ‘Dubious Sale Of Crane Bank, Seven Commercial Banks’

The Parliament of Uganda through Igara East Member of Parliament, Hon Michael Mawanda is working on a, ‘Constitution (Amendment) Bill, that seeks to, among others, remove the Governor and Deputy Governor of Bank of Uganda from being Chairperson and Vice Chairperson respectively

November 14, 2021

Business

Supreme Court Sets Date To Rule On Who Pays Costs In Crane Bank Case

The Supreme Court has said it will at a later date rule on who between Bank of Uganda (BoU) and Crane Bank in receivership pays the legal costs to businessman Sudhir Ruparelia in the multibillion commercial dispute. This follows submissions by Mr

November 10, 2021