By Our Reporter
City tycoon Sudhir Ruparelia is in a jovial mood after flooring Bank of Uganda in case it had filed against him, alleging that he siphoned Ssh397Bn from Crane Bank, before it was closed down in 2016.
Bank of Uganda, acting on behalf of Crane Bank, dragged Sudhir and others to court in 2017, purportedly to recover Shs397 they has pocketed from Crane Bank under shady deals.
However, Sudhir vehemently refuted the BoU allegations and after a lengthy battle, the High Court Commercial Division acquitted him of the charges.
Justice David Wangutusi ruled on Tuesday that Crane Bank (Under Receivership) had no capacity to sue. He thus dismissed the case and ordered the Central Bank to compensate Sudhir, on top of burdening the legal costs.
Spy Uganda can reveal that later in the day after the court victory, Sudhir and his son Rajiv Ruparelia hosted their friends to a sumptuous feast and Champagne at Speke Appartments on Wampewo avenue opp.Hotel Africana to share a toast.
Our Spies who were at the feast reveal that several notable Ugandans ate and drunk to their fill till late in the night when one by one, they retired to their places of abode. Among the notable Ugandans who were at Sudhir’s feast was political analyst Tamale Mirundi, social activist Frank Gashumba, mortar mouthed veteran Journalist Andrew Mwenda among others.