Sudhir Ruparelia News

MPs query BoU payments to MMAKS Advocates

Regarding the question of whether or not the MMAKS Advocates defaulted in cases involving tycoon Sudhir Ruparelia, their former employee and BoU, Mr Moses Adriko, a partner from the law firm, indicated that their involvement in cases involving the BoU vs Crane Bank did not violate any law.

Daily Monitor , Uganda Feb 13, 2019

Commercial court locks up Shs 1.3 trillion

Another matter is the dispute between Bank of Uganda and city businessman, Sudhir Ruparelia and his company, Meera Investments.

The Observer , Uganda Feb 11, 2019

Commercial Court locks up SH1.3 trillion

Another matter is the dispute between Bank of Uganda and city businessman, Sudhir Ruparelia and his company, Meera Investments.

The Independent , Uganda Feb 11, 2019

Kasaija blames Crane Bank closure on Sudhir

Finance minister Matia Kasaija says he had advised Crane Bank proprietor Sudhir Ruparelia to sell some of his property to recapitalise the bank but the latter refused.

Daily Monitor , Uganda Feb 11, 2019

Kasaija blasts BoU over closed banks

In Crane Bank’s case, the former owner, Mr Sudhir Ruparelia, has testified to MPs that former shareholders had mobilised $23m (about Shs84b) that was supposed to be injected to save the bank but it was instead seized by the central bank which then closed it in 2016 for under-capitalisation.

Daily Monitor , Uganda Feb 9, 2019

Sudhir was fed up of Crane bank - Kasaija

Finance minister Matia Kasaija has revealed that the former owner of defunct Crane bank, Sudhir Ruparelia confided in him that he was fed-up with the financial institution, prior to its takeover by the central bank in 2016.

The Observer , Uganda Feb 9, 2019

Closed banks: dfcu makes U-turn on Crane Bank properties

However, the Auditor General and the former Crane Bank shareholders led by city tycoon Sudhir Ruparelia have disputed the figure.

Daily Monitor , Uganda Feb 8, 2019

Former Crane Bank board chair accuses BOU of 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 is inquiring into the closure and sale of seven commercial banks between 1993 and 2016.

The Independent , Uganda Feb 7, 2019

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.

The Independent , Uganda Feb 7, 2019

Crane Bank closure: Sudhir wants Shs584b from BoU

Mr Sudhir Ruparelia, the former owner of the closed Crane Bank, has said the bank’s former shareholders want their Shs584b which he says Bank of Uganda (BoU) is holding illegally since the closure and takeover of the commercial bank.

Daily Monitor , Uganda Feb 7, 2019