Sudhir Ruparelia, the owner of the defunct Crane Bank wants Bank of Uganda to return the bank’s shareholders’ billions of Uganda Shillings. Sudhir, a former shareholder at Crane Bank, Joseph Birabona, the chairman of the board of directors and his lawyers Peter Kabatsi and Joseph Matsiko from Kampala Associates Wednesday appeared before Cosase committee. The […]
Sudhir Ruparelia, the owner of the defunct Crane Bank wants Bank of Uganda to return the bank’s shareholders’ billions of Uganda Shillings.
Sudhir, a former shareholder at Crane Bank, Joseph Birabona, the chairman of the board of directors and his lawyers Peter Kabatsi and Joseph Matsiko from Kampala Associates Wednesday appeared before Cosase committee.
The tycoon in his submission to the committee chaired by Abdu Katuntu revealed that he wants Bank of Uganda to return 23.5 Million US Dollars deposited by shareholders of the defunct Crane Bank.
Sudhir explained: “The purpose for which this money was advanced to BoU was not met and therefore BoU has no reason to keep it.”
He asked the committee to compel Bank of Uganda to provide accountability for money purportedly invested in Crane Bank.
Sudhir revealed: “We believe some of this money did not end up in Crane Bank.”
Award winning journalist and writer who has worked as a stringer for a couple of acclaimed South Africa based German journalists, covered 3 Ugandan elections, 2008 Kenya election crisis, with interests in business and sports reporting.
