Sudhir lawyers object to Central Bank Case against property mogul

Lawyers of City Businessman Sudhir Ruparelia have objected to the case in which the central bank sued Sudhir for allegedly fleecing his own bank of Shs397 billion in fraudulent transactions.

Mr Ruparelia through his lawyers of Kampala Associated Advocates today presented a preliminary objection against the Bank of Uganda (BOU) case before the Commercial Court judge David Wangutusi.

The lawyers asked the court to dismiss the BOU case arguing that it overstepped its mandate in filing the case.

According to Kaluhanga, When dissolving a bank, BoU had three options. It can put someone in management in what is called statutory management, receivership or liquidation and it chose to go for receivership and Under the law, specifically only the manager and the liquidator can sue and the case cannot be filed by a receiver.

The lawyer made the objection when the case filed in January 2017 came up for hearing today.

The case has been adjourned until 26th august 2019.

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