• Latest
BoU Appeals Against Court Ruling that Disqualified its Lawyers

BoU Appeals Against Court Ruling that Disqualified its Lawyers

December 22, 2017
Raila beats Ruto in Eleven of 12 Diaspora Polling Stations

Kenya: IEBC to Announce Presidential Results today

August 15, 2022
Wajackoyah Confident of Becoming Kenya’s Next President

Wajackoyah Confident of Becoming Kenya’s Next President

August 15, 2022
India Day: I&M Bank Joins Drive to Support 100 Heart Surgeries for Children under 18 Years

India Day: I&M Bank Joins Drive to Support 100 Heart Surgeries for Children under 18 Years

August 14, 2022
UNRA Moves to Push Encroachers out of Road Reserves

UNRA Moves to Push Encroachers out of Road Reserves

August 14, 2022
NRM camps in Busongora South ahead of By-election

NRM camps in Busongora South ahead of By-election

August 14, 2022
Access to Tallying Centre Limited as Kenya’s Electoral Body Inches Closer to Final Presidential Results

Access to Tallying Centre Limited as Kenya’s Electoral Body Inches Closer to Final Presidential Results

August 13, 2022
MP Charged with Theft Agrees to Pay Phone Owner Shs30m

MP Charged with Theft Agrees to Pay Phone Owner Shs30m

August 13, 2022
Chebukati Asks Police to Probe Missing Kenyan Electoral Body Official

Chebukati Asks Police to Probe Missing Kenyan Electoral Body Official

August 13, 2022
BoU Woos Youth to Take advantage of Agricultural Credit Facility Funds

BoU Woos Youth to Take advantage of Agricultural Credit Facility Funds

August 13, 2022
Prof Nawangwe Reappointed as Vice Chancellor of Makerere University

Prof Nawangwe Reappointed as Vice Chancellor of Makerere University

August 12, 2022
UDA Performs Poorly in Nairobi Parliamentary Elections

UDA Performs Poorly in Nairobi Parliamentary Elections

August 12, 2022
Youth Urged to Embrace Parish Development Model

Youth Urged to Embrace Parish Development Model

August 12, 2022
SoftPower News
Tuesday, August 16, 2022
  • 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

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.

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: 1,466
  • Facebook
  • Tweet
  • WhatsApp
  • Telegram
  • Email
Tags: Bank of UgandaCommercial CourtDavid MpangaMMAKSSudhir Ruparelia
Leave Comment

Recent Stories

Kenya: IEBC to Announce Presidential Results today

Wajackoyah Confident of Becoming Kenya’s Next President

India Day: I&M Bank Joins Drive to Support 100 Heart Surgeries for Children under 18 Years

UNRA Moves to Push Encroachers out of Road Reserves

NRM camps in Busongora South ahead of By-election

Access to Tallying Centre Limited as Kenya’s Electoral Body Inches Closer to Final Presidential Results

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