SUDHIR CASE: Plan to have BOU pay heavily Kampala, Uganda | JULIUS BUSINGE & ISAAC KHISA | Real estate tycoon Sudhir Ruparelia has won a major case in the High Court in Kampala that could see the Bank of Uganda pay him billions of shillings in costs and compensation for …
Read More »Behind Sudhir win
Plan to have BOU pay heavily Kampala, Uganda | JULIUS BUSINGE AND ISAAC KHISA | Real estate tycoon Sudhir Ruparelia has won a major case in the High Court in Kampala that could see the Bank of Uganda pay him billions of shillings in costs and compensation for lost business …
Read More »BOU to appeal against Sudhir ruling
Kampala, Uganda | THE INDEPENDENT | Crane Bank (in Receivership) is dissatisfied with Monday’s High Court’s ruling in their UGX397 billion case against Sudhir Ruparelia and will appeal, Bank of Uganda has confirmed. The High Court Commercial Division on Monday dismissed the Crane Bank (in Receivership) suit against Sudhir and …
Read More »Court dismisses BOU case against Sudhir
Kampala, Uganda | THE INDEPENDENT | The High Court Commercial Division has dismissed the Crane Bank (in Receivership) suit against Sudhir Ruparelia and Meera Investments, with Justice David Wangutusi ruling that they have no legal basis to sue. The judge dismissed the suit on Monday over lack of legal basis …
Read More »Sudhir’s Kingdom Kampala Mall
The US$300 million property is already attracting top corporate clients Kampala, Uganda | JULIUS BUSINGE | The recently opened Kingdom Kampala Mall is already attracting top clients that consist of corporate companies, civil society organisations and government agencies and ministries, according to Prabhat Mishra, the General Manager at Crane Management …
Read More »COSASE report: Crane bank closure was illegal
Kampala, Uganda | THE INDEPENDENT | The closure of Crane Bank by Bank of Uganda was illegal. This is according to a report by the committee on Commissions, Statutory Authorities and State Enterprises -COSASE. The report indicated that an analysis of the Bank’s liquidity from 1st January to 24th January …
Read More »Impunity at Bank of Uganda
THE LAST WORD: How institutional independence allowed the central bank to indulge in gross mismanagement and incompetence THE LAST WORD | ANDREW M. MWENDA | Last week was the most shameful for Bank of Uganda. During hearings before the parliamentary committee on Commissions, Statutory Authorities and State Enterprises (COSASE) it …
Read More »The next fight over closed banks
Under the spotlight: the law and big money Kampala, Uganda | HAGGAI MATSIKO | After ending its public hearings into Bank of Uganda’s closure of seven commercial banks, attention is shifting to the recommendations the Parliamentary Committee on Commissions, Statutory Authorities, and State Enterprises (COSASE), is set to make. It …
Read More »Former Crane Bank board chair accuses BOU of frustrating investors
Kampala, Uganda | THE INDEPENDENT | The former Crane Bank Chairman of Board of Directors, Joseph Biribonwa, has accused the Central Bank for frustrating investors. Biribonwa on Wednesday appeared with the former Crane Bank owner Sudhir Ruparelia before Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) that …
Read More »I was coerced to buy National Bank of Commerce – Sudhir
Kampala, Uganda | THE INDEPENDENT | Businessman Sudhir Ruparelia says he was forced to acquire National Bank of Commerce (NBC), days after it was closed by the Bank of Uganda. Crane Bank Limited, according to Sudhir, paid sh1.12 billion as consideration of the agreement to take over NBC. The National …
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