Trouble For BoU After Court Of Appeal Dismisses Shs397Bn Case Filed Against Tycoon Sudhir
By Keefa Nuwahereza
The court of
Appeal on Tuesday morning dismissed an appeal that had been filed by Bank of
Uganda, contesting a 2019 ruling by High Court Justice David K. Wangutusi, in which he ruled that Bank of Uganda had no
legal capacity to sue Sudhir Ruparelia on behalf of Crane Bank, which was under
receivership.
The Matter
arose from a case filed by BoU against Sudhir in 2016, alleging that the tycoon
and others had pocketed Shs397Bn from Crane Bank prior to its being wound up
and sold to dfcu Bank.
When Justice Wangutusi dismissed the case with costs after BoU lawyers failed
to adduce enough evidence to back up their allegations, BoU officials decided
to appeal the ruling, which resulted into the dismissal of their Appeal today
by the a Panel of thre...
