• Latest
BoU Appeals Against Court Ruling that Disqualified its Lawyers

BoU Appeals Against Court Ruling that Disqualified its Lawyers

5 years ago
Feed Africa Summit: AfDB Committing $10bn to Make Continent Breadbasket of the World

Feed Africa Summit: AfDB Committing $10bn to Make Continent Breadbasket of the World

1 min ago
We are Proud of UPDF’s Direction as a Productive Force – Minister Huda Oleru

We are Proud of UPDF’s Direction as a Productive Force – Minister Huda Oleru

15 mins ago
We are Proud of UPDF’s Direction as a Productive Force – Minister Huda Oleru

People of Greater Mbarara Laid Foundation for Liberation Struggle – Minister Ssempijja

18 mins ago
Rwanda Troops, DR Congo Police Clash on Island in Lake Kivu

Rwanda Troops, DR Congo Police Clash on Island in Lake Kivu

32 mins ago
Museveni Commends Late Prof. Mutebile for Playing Key Role in Reviving and Growing Uganda’s Economy

Museveni Commends Late Prof. Mutebile for Playing Key Role in Reviving and Growing Uganda’s Economy

2 days ago
Locals Turn to Parliament over Fate of Kilembe Mines Hospital

Locals Turn to Parliament over Fate of Kilembe Mines Hospital

2 days ago
SoftPower News
Monday, January 30, 2023
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
SoftPower News
No Result
View All Result
Home News

BoU Appeals Against Court Ruling that Disqualified its Lawyers

by Kungu Al-mahadi Adam
December 22, 2017
BoU Appeals Against Court Ruling that Disqualified its Lawyers

Bank of Uganda communications director, Ms Christine Alupo

  • Facebook
  • Tweet
  • WhatsApp
  • Telegram
  • Email

Just a day after commercial court dropped MMAKS advocates and AF Mpanga advocates from representing Bank of Uganda in the fraud case against Sudhir Ruparelia, the central Bank has challenged the ruling saying it has no bearing on the substantive merits of the claim by Crane Bank against tycoon Sudhir Ruperelia.

Court ruled that the said law firms had conflict of interest in the matter since they were Sudhir’s lawyers before turning to Bank of Uganda side and so, they couldn’t represent BoU against Sudhir.

Related Stories

Gov’t to Commence Payment of Shs2.5 trillion Matured Securities to Bank of Uganda

Bank of Uganda Tasks Banks to Pay Close Attention to Cybersecurity

Youth Told to Grab Opportunities in Commercial Agriculture

In a statement released by Ms Christine Alupo, the Bank of Uganda communications director, a notice of appeal has been filed against the court ruling and that the Central Bank will continue with its pursuit of reclaiming the huge sums of money allegedly siphoned from Crane Bank by Sudhir Rupaleria.

“A notice of Appeal has been filed against the Court Ruling.
This Ruling has no bearing on the substantive merits of the claim by Crane Bank Ltd (in receivership) against Sudhir Ruparelia”, the statement read.

“Bank of Uganda will continue to pursue the recovery of the funds that were fraudulently siphoned from Crane Bank (U) Ltd (in receivership), as well as the costs of the resolution process”, continued the statement.

Crane Bank was taken over by the Central Bank last year and later sold to DFCU Bank.

However, Bank of Uganda sued Mr Sudhir the largest share holder in Crane Bank accusing him of fraudulently siphoning UGX470 billion shillings from Crane Bank prior to its take over.

Post Views: 1,471
  • Facebook
  • Tweet
  • WhatsApp
  • Telegram
  • Email
Tags: Bank of UgandaCommercial CourtDavid MpangaMMAKSSudhir Ruparelia

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Stories

Feed Africa Summit: AfDB Committing $10bn to Make Continent Breadbasket of the World

We are Proud of UPDF’s Direction as a Productive Force – Minister Huda Oleru

People of Greater Mbarara Laid Foundation for Liberation Struggle – Minister Ssempijja

Rwanda Troops, DR Congo Police Clash on Island in Lake Kivu

Museveni Commends Late Prof. Mutebile for Playing Key Role in Reviving and Growing Uganda’s Economy

Locals Turn to Parliament over Fate of Kilembe Mines Hospital

SoftPower News

SoftPower News is a subsidiary of SoftPower Communications LLC, a Ugandan digital media group. Keep posted of the latest from Uganda and East Africa.
Plot 4B Malcolm X, Kololo
P.O Box 1497, Kampala - Uganda
Tel: +256-392-001-701
Email: info@softpower.ug

This news site is licenced by Uganda Communications Commission (UCC)

ADVERTISEMENT
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
  • Regional
  • Defence & Security
  • Sport
  • Entertainment
  • More

© SoftPower News

No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women

© SoftPower News

error: Content is protected

Send this to a friend