Ruparelia Group founder and businessman Sudhir Ruparelia has scoffed at Bank of Uganda legal advisers saying they deliberately mislead the Central Bank for selfish interests.
Sudhir who won a case against Bank of Uganda on a technical ground last month when Commercial Court ruled that Crane Bank in (receivership) didn’t have audacity to sue its former owner- Mr Sudhir has roared, “I am ready for you today, tomorrow and when I am dead.”
Bank of Uganda along with Crane Bank (in receivership) had dragged the businessman to court seeking a refund of shs 397 billion he allegedly pulled out of Crane Bank that belonged to customers.
Represented by a prominent legal firm in Kampala- KAA, they argued that the law quoting the Financial Act of 2004 doesn’t allow a bank which is under receivership to sue its former owner.
Therefore, Court dismissed the case with legal costs.
But Bank of Uganda Communications Director announced that the regulator was intending to appeal the decision made Justice David Mangutusi.
Reacting to Bank of Uganda’s attempt to appeal, Sudhir who Saturday was launching the new commercial building in Downtown Kampala- Electrical Plaza, said he is ready to face BoU again in Court.
“Me, I am ready, today, tomorrow or even when I am dead my son will takeover. Let me tell you, law is law, nobody can reinvent law. You see they created this law to protect themselves. They are saying no body can sue them. So we used the same law to defeat them,” he said.
He said Bank of Uganda officials have taken seven banks and nobody could do anything to them because they had the law to protect them.
“So we used the same law they used to protect them to defeat them. If anybody has senses in bank of Uganda, they have such dumb lawyers there. If they lawyer knew the law they are supposed to enforce, this could have not happened. So I think its good for us that there are dumb lawyers in Bank of Uganda legal department,” he concluded.