Tuesday , October 17 2017
Home / In The Magazine / THIS WEEK: Doubts over mediation in Sudhir- BOU case

THIS WEEK: Doubts over mediation in Sudhir- BOU case

Crane Bank’s Sudhir Ruparelia (R) listens to Bank of Uganda Governor Emmanuel Tumusiime -Mutebile at the opening of a new branch in Jinja. INDEPENDENT/JIMMY SIYA

THIS WEEK: Doubts over mediation in Sudhir- BOU case

Kampala, Uganda | THE INDEPENDENT | More than two weeks after the Commercial Court advised businessman Sudhir Ruparelia and Bank of Uganda (BoU) to seek an out of court settlement, neither side is yet to make a gesture on the issue. Justice David Wangutusti advised the two parties to seek mediation saying the case would greatly hurt one of them.

The Shs397bn fraud case has pitted the former Crane Bank owner Sudhir sharply against BoU, who accuse him of illegally transferring the bank’s land titles to his other investments. As a condition for the mediation, Sudhir demanded that BoU lawyers David Mpanga and Timothy Masembe recuse themselves from the case. Meanwhile the Mediation Registry at the Commercial Court was yet to reach out to the two parties by press time.

****

Leave a Reply

Your email address will not be published. Required fields are marked *