Kampala business man and proprietor of Ruparelia Group of Companies Sudhir Ruparelia has refused to appear anywhere in the mediation proceedings which Bank of Uganda has organized.
It should be noted that when Crane bank was taken over by the Central Bank, Sudhir was accused of mishandling the financial institution, a claim BOU said led to the collapse of Crane Bank.
Sudhir was also accused of siphoning Shs400bn from the defunct bank.
Bank of Uganda through its lawyers MMAKS Advocates and AF Mpanga Advocates filed a case against the top city business man on the above matter.
However, on Thursday 3rd August Sudhir filled a defense case through his lawyers Kampala Associated Advocates thrashing the forensic report on Crane Bank that the Central Bank had used against him.
Sudhir filed a 64 page defense that casts the forensic audit document as a cooked up and fabricated. Subsequently the Central Bank has organised a mediation with him on Thursday.
However, the affluent businessman has snubbed these talks.
“I thought that mediation would only commence after pleadings have closed. Crane Bank and Bank of Uganda need to file their responses to the counter claim before any mediation can commence. That is why I don’t think anything will happen on Thursday.
But court can only start mediation when pleadings are in and each side understands the other’s case. It is important to close pleadings before mediation starts because parties cannot change their case based on mediation discussions.
They have no case and are afraid of the embarrassment in public if they don’t have good answers to our case,” Sudhir told this website.