Out: Dfcu Bank Evicts Self From Tycoon Sudhir’s Kabale Building

Out: Dfcu Bank Evicts Self From Tycoon Sudhir’s Kabale Building

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By Our Reporter

The trouble that befell dfcu Bank ever since they grabbed properties belonging to Meera Investments Limited, which had been leased by Crane Bank, is not about to end.

After fleeing the former Crane Bank headquarters building in Kampala and other areas in central Uganda, dfcu Bank has started evicting its branches from Dr Sudhir Ruparelia’s properties in upcountry districts.

The latest indicates that dfcu Bank has vacated Dr Sudhir’s property in Kabale town and rented a nearby building, where they have since shifted their offices and vault.

Indeed a notice issued by dfcu Bank about the changes reads thus; “We hereby inform you that this Branch will be relocating to its new premises at Plot 141, Kabale-Kisoro Road effective Monday 2nd March 2020.

The Branch will, therefore, remain closed on Saturday 29th February 2020 to enable us to relocate to the new premises.

dfcu Bank notice about relocating their Kabale branch from Sudhir’s building

During  this period you can access our services through our digital channels-Quick Banking, ATMs and any dfcu Agent…”

The statement adds that “We regret the inconvenience that this may cause and look forward to offering you excellent service at our new premises.”

Dfcu Bank’s troubles started after they were misled by their lawyers of Ssebalu, Lule and Co. Advocates into illegally grabbing properties that Crane Bank had leased from Meera Investments.

A few years after dfcu Bank had bought Crane Bank from Bank of Uganda, court ruled that they were illegally occupying properties that Crane Bank had leased from Meera Investments Limited, in which dfcu Bank had established its branches across the country.

Court also ruled that dfcu Bank was liable to compensate Meera Investments LTD for the losses they had incurred during the time they (dfcu Bank) were  illegally occupying the properties, which are 48 in total.

The court ruling passed last year by High Court Judge Justice David Wangutsi left dfcu Bank with no choice but to vacate Sudhir’s properties, after rescinding a contract with BoU to purchase the same.  

Since then, dfcu Bank has been evicting their branches from tycoon Sudhir’s properties one by one until the day they will vacate all the properties and compensate Meera  Investments Limited for all the rent arrears and losses they incurred during the Bank’s illegal occupation of their facilities.

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