A declaration that there are no valid leases in respect of the properties. The said leases are therefore declared to be invalid and absolutely determined on account of breach and illegality. A declaration that the occupation and continued utilization of the suit properties by the first defendant constitutes trespass. That was the October 24 ruling…
In a groundbreaking verdict, dfcu Bank has been directed to vacate a set of prime properties owned by Mera Investments within the coming three months. Mera Investments is owned by prominent businessman Sudhir Ruparelia. This momentous ruling was issued by Justice Tadeo Asiimwe, a distinguished Land Division Judge at the High Court, following an extended legal…
Business tycoon Sudhir Ruparelia demands Dfcu Bank, the financial institution that took over management of Crane Bank in January 2017 to pay $8,660,462 (Sh32 billion) for rent arrears. Sudhir through his company Meera Investment Limited says the amount is in breach of the tenancy agreements in respect to plots 38 and 40A Kampala Road. Plot…
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 shareholders from accusations of fraudulently taking over Crane Bank. In a statement inked…
The board of Directors of the embattled Dfcu-Bank has sacked its Acting Executive Director who doubled as chief commercial officer, William Ssekabembe. The company secretary, Angelin Namakula Ofwono, revealed his sack announcement. Ssekabembe with an experience of over 24 years in the banking sector leaves the struggling bank after 11 Years of service at DFCU…
3 revered judges of the Court of Appeal in London are astonished that a group of dubious, corrupt and deceitful officials from the Bank of Uganda who designed a plan to steal and sell off Crane Bank Limited (CBL) are not in prison. And one of the recommendations highlighted in the Wednesday judgment by the…
The Court of Appeal from the High Court of Justice Business and Property Courts in England has issued a judgement quashing an earlier decision by the lower court exonerating dfcu bank and its shareholders from fraudulently taking over Crane Bank. The Court of Appeal contends with businessman Sudhir Ruparelia and six other applicants that dfcu…
The legal battle between dfcu Bank and the defunct Crane Bank over mortgages worth billions of shillings shows no signs of abating, this website can reveal. As case filing enters the latter stages, clients who took out mortgages with Crane Bank before it went under the central bank’s hammer find themselves condemned to a life…
Dfcu Bank has registered a decline of Shs11.9 billion in operating income, the audited financial results for the year that ended on December 31, 2022. The results indicate that the bank registered a loss of Shs4.8 billion in net interest income whereas the operating expenses grew from Shs179.6 billion to Shs299.4 billion in the last…
A tax compliance audit into the matter of DFCU Group (which owns DFCU Bank and other business) was recently conducted and it revealed that the entity has been inappropriately diminishing its tax liability through under declaration of space let put to tenants at its DFCU Towers. The compliance audit covered the period between January 2014…
