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Sudhir Ruparelia addressing the media

BoU Must Pay for their Sins for Stealing My Bank-Sudhir

Sudhir and his Meera Investments Company on Monday won a case in which Bank of Uganda sued them demanding that they pay Shs397billion that they allegedly fleeced from defunct Crane Bank at the time when it was in receivership.
posted onAugust 27, 2019
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By Max Patrick Ocaido

City businessman Sudhir Ruparelia has said that all those who were responsible in the ‘fraudulent’ sale of his Crane Bank Limited (CBL) must pay for their sins.

Sudhir and his Meera Investments Company on Monday won a case in which Bank of Uganda sued them demanding that they pay Shs397billion that they allegedly fleeced from defunct Crane Bank at the time when it was in receivership.

Court ruled in favour of Sudhir on grounds that Central Bank did not have the locus to sue defunct Crane Bank which was already in receivership and ordered BoU to pay all the legal costs incurred. In an interview after the court victory, Sudhir said that Bank of Uganda and others involved must pay for their sins for the sale of his Bank.

“This is a big win against the mafias holding this country at ransom. How do you just steal my Bank. You (BoU) claim that you injected Shs478bn in Crane Bank but you can’t account for it. Someone has just stolen in the name of Crane Bank and they will pay for it,” Sudhir said.

“This is historic. Nobody has in the past been able to take on the Central Bank. They have stolen from several closed banks and not accounted to any shareholders.”

Sudhir and his son threw a party for his accomplices after winning court case on Monday
Sudhir and his son threw a party for his accomplices after winning court case on Monday

Soon after the court ruling was delivered, Sudhir accompanied by his son, Rajiv threw up a mega party for their accomplices who had their backs during the protracted court battles with the Central Bank.

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