Sudhir: "I am ready to face BoU in court again"

Business tycoon and property magnate Sudhir Ruparelia has said he is ready to face the central bank in court after Bank of Uganda appealed against the ruling last month, to the effect that Crane Bank (in receivership) has no legal basis to sue him.

It followed Bank of Uganda's legal attempt to recover Shs 397 billion from him.

Speaking during the launch of Electrical Plaza, his new building on Saturday, Sudhir said he was more than ready to meet the central bank in court.

“Me, I am ready, today, tomorrow. 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 had acted arrogantly in the closure of some banks including his Crane Bank but the law had caught up with them.

"We used the same law they used to protect themselves to defeat them. If anybody has sense in Bank of Uganda, they have such dumb lawyers there. If their lawyer knew the law they are supposed to enforce, this could have not happened," he said.