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 the closure of Crane Bank Ltd. Both the High Court and the Court…
The Indian Association Uganda has requested the Indian Government to lower import taxes, especially on coffee and cocoa. They made the call through the visiting state minister for External Affairs, Vellamvelly Muraleedharan, during a breakfast meeting at Serena Hotel in Kampala. The executive committee chairman of Indian Association Uganda, Rao Mohana said high taxes have…
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 Ruparelia’s lawyers led by Peter Kabatsi yesterday, asking the justices of the Supreme…
Billionaire and Chairman Ruparelia Group of Companies, Sudhir Ruparelia has advised Ugandans to put their money in the real estate business because it’s one of the few businesses that can endure storms of Uganda’s economy. Speaking during the Uganda Revenue Authority (URA)’s 3rd edition of e-Bomba Ya Business Summit 2021 at URA’s headquarters, the real…
City talkative Journalist Andrew Mujuni Mwenda has advised the frustrated Bank of Uganda (BoU) to concede in the four-year old legal battle with city tycoon Sudhir Ruparelia and his Meera Investments Ltd following the latest Supreme Court ruling that quashed the central bank bid to liquidate the defunct Crane Bank Ltd. This comes after an…
The Uganda Revenue Authority (URA) has recognized Ruparelia Group – owned by businessman Sudhir Ruparelia as one of Uganda’s top tax payers in the 2021 Tax-payers Awards. The top tax payers were recognized on Friday during the annual Taxpayers Awards Ceremony at URA head offices in Nakawa, Kampala. The ceremony which a culmination of a…
Today, the Supreme Court delivered yet another ruling in favour of Sudhir in which it emphasised that the appeal filed before it by Bank of Uganda had no chance of success. This is the fourth application that has been won by Sudhir in the Supreme Court from the time Bank of Uganda appealed the decision…
Last week a letter from President Yoweri Kaguta Museveni directing the Bank of Uganda Governor, Prof. Emmanuel Tumusiime Mutebile, to investigate the foreclosing of properties, belonging to Architect Peter Kamya of Simbamanyo Estates Ltd surfaced on social media. In the 3rd September 2021 letter (Reference No. PO/19), titled “Claims Of Illegal Sale Of Simbamanyo House…
Former Simbamanyo House owner Peter Kamya is in more trouble after move evidence reveal that he kept on collecting rent from the Ministry of Gender, Labour and Social Development despite mortgaging the building to Equity Bank when acquiring a loan. In August 2012, Equity Bank Uganda and Equity Bank Kenya extended a loan worth $10…
Property Magnet Dr Sudhir Ruparelia has broken silence on the disputed Simbamanyo House ownership days after the former owner Peter Kamya ran to President Museveni seeking intervention into the sale of their property. Embattled Kamya ran to Museveni contesting Equity Bank’s sale of his property to Tycoon Sudhir in October 2020 for UGX18.5b. However, Equity…
