By Our Reporter
KAMPALA: DFCU customers have advised the top management of the bank to focus on why the Bank is soaked in a tsunami of troubles that are likely to bring it to its illogical end. This comes after the Bank’s legal team issued a strongly warning letter of intention to sue to Rajiv Ruparelia,son to city tycoon Sudhir Ruparelia, accusing him of allegedly sponsoring online new papers to spread ‘harmful propaganda’ capable of bringing down Uganda’s second largest private bank.
In the their strongly worded letter, DFCU legal team warned that Rajiv Ruparelia risks legal battles with DFCU Bank since his repeated conduct amounts to the civil torts of corporate defamation and interference with their client’s business by unlawful means.
“Your contumelious conduct also amounts to criminal libel contrary to section 179 of the penal code act (CAP 120 of the laws of Uganda and offensive communication contrary to Sec.25 of the computer misuse act No.2 of 2011,” letter read in part.
However, some members of the public, especially customers have come out on social media and bombarded DFCU with rage,demanding to understand whether it’s Rajiv Ruparelia running causing visibly gross mismanagement at the Bank to the extent of some top officials of the Bank pocketing huge amounts of money in back door deals, a thing that has left the Bank limping.
Some sources have also claimed that the purported warning letter to Rajiv was drown at Kisementi after huge sacks of money exchanged hands with one of the Directors of an online outlet who promised to defend the bank to the latter.
Mr.Mubaraq Karim Nsubuga, one of the customers at DFCU who withdrew all his money after the Bank’s admission that it was in liquidity crisis and may, according to him, close any time posted the following questions on his social media that he demands DFCU to respond to;
“DFCU alleges that Mr Rajiv is sponsoring online media publishers to tarnish it’s ‘good’ image, but the general public is also concerned with the following queries:
- Is it not true that DFCU is in liquidity crisis? A few months ago its Board Chairman Counsel Elly Karuhanga admitted the same.
- Is it not true that the troubled DFCU is closing the branches it inherited from CBL? A case in point is the bayita ababiri branch.
- Is it not true that DFCU top managers are resigning to go to other Banks? A case in point is mr.Sekabembe who resigned recently and is soon switching to KCB.
- Is it not true that shareholders are selling their shares? Recently Britain’s CDC sold its 9.95% shares.
- Is it not true that Board members are resigning? A case in point is the resignation of Dr Deepak Malik a representative of Arise Bv who threw in the towel. Therefore, DFCU should accept and eat a humble pie and rejuvenate themselves otherwise the bank is in a total fiasco.
TheSpy Uganda separately learnt that DFCU Bank hired a renowned city journalist to give it’s image a positive publicity and build confidence in its clientele. The journalist, we have learnt parted with UGX 100Million. He was allegedly to use part of the money to neutralize all online media publishers who subscribe to Online media Publishers Association (OMPA). The Bank however later learnt that the smart guy pocketed all the money and failed on his task to neutralize the online publishers as he promised, the management has now exerted pressure on him to deliver on his promise as things also seems not to be going down well with indeed so far the second largest bank in Uganda. The smart journalist, our spy learnt that he quickly came up with an idea, to threaten Rajiv and the online publishers who refused to succumb last time to now back off as one of his strategies to deliver on his promise.
The warned online publishers include Spy Reports, Eagle online, Crime 24, The Ugandan, and PML Daily. If that was not enough,they also mentioned individuals who could be targeted,and these include;Muhereza Kyamutetera, Raymond Wamala, Richard Wanambwa, Jacob Seaman, Maurice Muhwezi and Javira