Justice Samuel Emokor of the High Court has dismissed an application by Meera Investments Limited seeking more than Shs 40 billion from DFCU Bank for alleged contempt of court. In his ruling, Justice Emokor of the Land Division held that although DFCU vacated dozens of properties without restoring them, its failure to do so was…
The Supreme Court has ordered Bank of Uganda to pay businessman Sudhir Ruparelia and his firm Meera Investments Ltd Shs 1 billion as legal costs in their long-running dispute over the closure of Crane Bank. The conflict began in 2016 when the Bank of Uganda placed Crane Bank under receivership due to financial irregularities. In…
The High Court has temporarily halted the enforcement of over Shs 1.2 billion in costs awarded to court bailiffs in a protracted property dispute between DFCU Bank Limited and Meera Investments Limited. The ruling by Justice Olive Kazaarwe Mukwaya grants interim relief to DFCU Bank pending the resolution of broader appeals. The case originates from…
One of the bitterest episodes in tycoon Sudhir Ruparelia’s storied business life is the way he lost Crane Bank Limited to DFCU in January 2017. Bank of Uganda determined that Crane Bank was undercapitalized, opening the way for DFCU to take it over at a cost of Shs 200 billion. Crane Bank was the crown…
