• Latest
  • Trending
  • All
Supreme Court return Crane Bank to Sudhir

Supreme Court return Crane Bank to Sudhir

February 11, 2022
She corporates esitukidde mu kikopo kya liigi yababinywera eya Fufa women super league

She corporates esitukidde mu kikopo kya liigi yababinywera eya Fufa women super league

May 20, 2022
Police etandise okuyigga abanyaguludde bus ya kampuni ya Link ku mudumu gw’emmundu

Police etandise okuyigga abanyaguludde bus ya kampuni ya Link ku mudumu gw’emmundu

May 20, 2022
Obwakabaka bwa Buganda bukungubagidde eyali omukulembeze wa United Arab Emirates Sheik Khalifa Bin Zayed

Obwakabaka bwa Buganda bukungubagidde eyali omukulembeze wa United Arab Emirates Sheik Khalifa Bin Zayed

May 20, 2022
She Cranes yetegekera Commonwealth games – abazannyi 30 bebayitiddwa

She Cranes yetegekera Commonwealth games – abazannyi 30 bebayitiddwa

May 20, 2022
Police esuulidde Dr.Besigye emisanvu emuganye okwekalakaasa olw’ebbeeyi y’ebintu  – asiibye yesibidde mu mmotoka

Police esuulidde Dr.Besigye emisanvu emuganye okwekalakaasa olw’ebbeeyi y’ebintu – asiibye yesibidde mu mmotoka

May 19, 2022
Obululu bw’ekikopo ky’empaka z’amasaza ga Buganda bukwatiddwa – amasaza gagabanyiziddwa mu bibinja bisatu

Obululu bw’ekikopo ky’empaka z’amasaza ga Buganda bukwatiddwa – amasaza gagabanyiziddwa mu bibinja bisatu

May 20, 2022
Government esabye embalirira y’ennyongereza ya buwumbi shs 617 – ababaka bayombye tekubaganyiIddwako birowoozo

Government esabye embalirira y’ennyongereza ya buwumbi shs 617 – ababaka bayombye tekubaganyiIddwako birowoozo

May 19, 2022
Alemereddwa okusasula ez’omwenge asindikiddwa Luzira

Alemereddwa okusasula ez’omwenge asindikiddwa Luzira

May 19, 2022
Abantu musanvu bakwatiddwa lwakuwogganya bidongo mu budde bwekiro

Abantu musanvu bakwatiddwa lwakuwogganya bidongo mu budde bwekiro

May 19, 2022
Ssaabasajja Kabaka asiimye naggalawo ttabamiruka w’abakyala ba Buganda 2022

Ssaabasajja asiimye okuggulawo empaka z’omupiira gw’ebika by’abaganda 2022- olukiiko oluggya oluziddukanya lulangiriddwa

May 19, 2022
Parliament eragidde government esazeemu endagaano y’emmwanyi gyeyakola ne kampuni ya Vinci – ensimbi eziwe abasuubuzi bannansi bongere omutindo ku mmwanyi

Parliament eragidde government esazeemu endagaano y’emmwanyi gyeyakola ne kampuni ya Vinci – ensimbi eziwe abasuubuzi bannansi bongere omutindo ku mmwanyi

May 19, 2022
BUL FC yesozze fayinolo za Uganda Cup – ewera kwesasuliza ku Vipers FC

BUL FC yesozze fayinolo za Uganda Cup – ewera kwesasuliza ku Vipers FC

May 18, 2022
  • ABOUT US
  • Buddu Sacco
  • BUGANDA
  • Busiro Sacco
  • CBS ASSOCIATES
  • CBS-PEWOSA NGO
  • CONTACTS
  • Ebitongole byóbwakabaka
  • Entanda ya Buganda magazine
  • Eyeterekera Sacco
  • home
  • Kyadondo Sacco
  • Nsindikanjake Holdings Limited
  • Stromme Foundation
  • Login
CBS FM
89.2 FM Emmanduso
Live
88.8 FM Eyobujjajja
Live
Advertisement
  • Home
  • News
    • News
    • World News
    • Health
    • Politics
    • Amawulire
    • Business
    • Sports
    • Opinions
    • Features
    • Entertainment
  • ABOUT US
  • ON-AIR PROGRAMS
  • Departments
  • BUGANDA
  • CBS ASSOCIATES
    • Nsindikanjake Holdings Limited
    • CBS-PEWOSA NGO
    • Entanda ya Buganda magazine
    • Eyeterekera Sacco
    • Kyadondo Sacco
    • Busiro Sacco
    • Buddu Sacco
  • Events
  • CBS PARTNERS
    • Stromme Foundation
    • Ebitongole byóbwakabaka
  • Archive
  • CONTACTS
No Result
View All Result
89.2 FM
89.2 FM
88.8 FM Eyobujjajja
88.8 FM
Home Amawulire

Supreme Court return Crane Bank to Sudhir

by Elis
February 11, 2022
in Amawulire, blog, Features, News
0 0
0
Supreme Court return Crane Bank to Sudhir
0
SHARES
113
VIEWS
Share on FacebookShare on Twitter

 

Supreme Court has ordered that Bank of Uganda pays costs to business tycoon Sudhir Ruparellia after losing a 5year legal battle over Crane Bank ownership.

The Bank of Uganda had dragged Sudhir and his Crane Bank to Court accusing him of siphoning over 397 billion shillings from his former Crane Bank.

Today the five justices of the Court led by Opio Aweri unanimously dismissed the Bank of Uganda appeal and ruled that Banks of Uganda pays all costs in the lower Court.

The justices further ruled that since Crane Bank receivership ended in 2018, Crane Bank Ltd as a company be reverted to Sudhir and his co- shareholders.

The ruling which has marked the climax of a 5-year dispute between Bank of Uganda, Sudhir Ruparelia, his company Meera investment Ltd and his former Crane Bank Ltd arose in 2017 when Bank of Uganda accused Sudhir and Meera Investments   of siphoning over 397 billion shillings from his former Crane Bank.

In 2019 Commercial Court judge David Wangututsi dismissed the case with costs, on grounds that he found no misconduct on the side of Sudhir to warrant prosecution, a position that was also maintained by the Court of Appeal in 2020.

The Central Bank was dissatisfied by the decision and lodged an appeal in the Supreme court to have it overturned. Along the way the Bank lost interest in prosecuting the appeal prompting to file a notice of withdrawal but argued that costs should be paid by Crane Bank.

However, this did not settle well with Sudhir who insisted Bank of Uganda should pay their costs, because Crane Bank was no longer in existence having had its assets sold to DFCU bank in 2016.

Sudhir and his lawyer Joseph Matsiko have welcomed today’s ruling.

ShareTweetPin
Elis

Elis

Recent Posts

  • She corporates esitukidde mu kikopo kya liigi yababinywera eya Fufa women super league
  • Police etandise okuyigga abanyaguludde bus ya kampuni ya Link ku mudumu gw’emmundu
  • Obwakabaka bwa Buganda bukungubagidde eyali omukulembeze wa United Arab Emirates Sheik Khalifa Bin Zayed
  • She Cranes yetegekera Commonwealth games – abazannyi 30 bebayitiddwa
  • Police esuulidde Dr.Besigye emisanvu emuganye okwekalakaasa olw’ebbeeyi y’ebintu – asiibye yesibidde mu mmotoka

Recent Comments

No comments to show.

News sectioning

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
ABASIBE BAFIIRIDDE MU KABENJE, BABADDE BAGENDA MUNNIMIRO

ABASIBE BAFIIRIDDE MU KABENJE, BABADDE BAGENDA MUNNIMIRO

February 17, 2022
Abayizi abatanaweza myaka 18 sibakuddamu kuwandiisibwa mu matendekero gébyekisawo

Abayizi abatanaweza myaka 18 sibakuddamu kuwandiisibwa mu matendekero gébyekisawo

April 26, 2022
Omwoleso gwa CBS Pewosa aboolesezza n’abalambuzi baganyuddwa

Omwoleso gwa CBS Pewosa aboolesezza n’abalambuzi baganyuddwa

April 18, 2022
Supreme Court return Crane Bank to Sudhir

Supreme Court return Crane Bank to Sudhir

February 11, 2022
Obwakabaka bwa Buganda butangaazizza ku nnyonyi eyatwala Ssaabasajja Kabaka e Germany

Obwakabaka bwa Buganda butangaazizza ku nnyonyi eyatwala Ssaabasajja Kabaka e Germany

March 28, 2022

The co-founder of Quality Chemicals dies.

0

Uganda, TOTAL Agree on Pipeline Project.

0

South Sudan reopens schools after 6-month lockdown.

0

President Yoweri Museveni is in Tanzania to sign an implementation agreement for the East Africa Crude Oil Pipeline (EACOP) project.

0

NUP Coordinator Accuses Police Of Torture

0
She corporates esitukidde mu kikopo kya liigi yababinywera eya Fufa women super league

She corporates esitukidde mu kikopo kya liigi yababinywera eya Fufa women super league

May 20, 2022
Police etandise okuyigga abanyaguludde bus ya kampuni ya Link ku mudumu gw’emmundu

Police etandise okuyigga abanyaguludde bus ya kampuni ya Link ku mudumu gw’emmundu

May 20, 2022
Obwakabaka bwa Buganda bukungubagidde eyali omukulembeze wa United Arab Emirates Sheik Khalifa Bin Zayed

Obwakabaka bwa Buganda bukungubagidde eyali omukulembeze wa United Arab Emirates Sheik Khalifa Bin Zayed

May 20, 2022
She Cranes yetegekera Commonwealth games – abazannyi 30 bebayitiddwa

She Cranes yetegekera Commonwealth games – abazannyi 30 bebayitiddwa

May 20, 2022
Police esuulidde Dr.Besigye emisanvu emuganye okwekalakaasa olw’ebbeeyi y’ebintu  – asiibye yesibidde mu mmotoka

Police esuulidde Dr.Besigye emisanvu emuganye okwekalakaasa olw’ebbeeyi y’ebintu – asiibye yesibidde mu mmotoka

May 19, 2022
CBS FM

Copyright © 2022 CBS FM.

Navigate Site

  • ABOUT US
  • Buddu Sacco
  • BUGANDA
  • Busiro Sacco
  • CBS ASSOCIATES
  • CBS-PEWOSA NGO
  • CONTACTS
  • Ebitongole byóbwakabaka
  • Entanda ya Buganda magazine
  • Eyeterekera Sacco
  • home
  • Kyadondo Sacco
  • Nsindikanjake Holdings Limited
  • Stromme Foundation

Follow Us

No Result
View All Result
  • ABOUT US
  • Buddu Sacco
  • BUGANDA
  • Busiro Sacco
  • CBS ASSOCIATES
  • CBS-PEWOSA NGO
  • CONTACTS
  • Ebitongole byóbwakabaka
  • Entanda ya Buganda magazine
  • Eyeterekera Sacco
  • home
  • Kyadondo Sacco
  • Nsindikanjake Holdings Limited
  • Stromme Foundation

Copyright © 2022 CBS FM.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist