VICTORY AGAIN: TYCOON SUDHIR WINS ANOTHER COURT CASE AGAINST BOU

www.mknewslink.com
In Kampala
The commercial court has today dismissed the case Bank of Uganda had lodged against businessman Sudhir Ruparelia seeking to recover Shs 379 billion from him.
Bank of Uganda (BoU) /Crane Bank in Receivership sued Sudhir Ruparelia and Meera Investments Limited for allegedly fleecing the defunct Crane Bank Limited (CBL) of Shs397 billion that the central bank wanted refunded.
But Justice David Wangutusi maintained today that BoU/Crane Bank (in receivership) did not have a legal basis to sue Sudhir.
Court ordered the central bank to pay Sudhir’s legal costs.
Today’s court victory is the third for the businessman against the central bank in a long legal battle that stems from the controversial closure and sale of his Crane bank by the Bank of Uganda.
He was won two conflict of interest cases against the central bank before.

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