City property mogul is set to wrestle it out with Bank of Uganda over Shs 400bn which the central bank wants Sudhir to pay. Bank of Uganda (BOU) has 10 days to give Sudhir 26 files.
Sudhir Ruparelia, through his lawyers Kampala Associated Advocates (KAA) has written to Bank of Uganda (BOU), copied the same letter to the commercial court in Kampala demanding 26 missing files to enable him file his defense.
BOU must show proof that the businessman fraudulently stole Sh400b from Crane Bank as is alleged by the central bank in its suit.
KAA which has described BOU’s case as full of “narratives” and “conjectures” claim the plaint lacked critical evidence and key annexures as is required.
Of the 26 files is the forensic report produced by PricewaterhouseCoopers during statutory management of Crane Bank.
BOU has also been tasked to show proof that Sudhir owns Infinity Investment. The central bank alleges that the businessman used Infinity Investment (which he owns) to siphon Sh8.2b from Crane Bank.
An inside source at the Uganda Registration Bureau (URSB) told us that Sudhir isn’t one of the shareholders of Infinity Investment.
Others are: the actual record bearing the alleged USD80, company searches, security releases, NSSF audit, etc.
This has further complicated an already complicated case. BOU must respond in 10 days as is required in law or its case will suffer a still birth.