Businessman Sudhir Ruparelia files his defense against a suit filed by Bank of Uganda insisting that Bank of Uganda is not entitled to any reliefs as sought in its suite Bank of Uganda dragged Sudhir Ruparelia to the commercial court over mismanagement of Crane Bank seeking an order that he refunds money he allegedly siphoned from the bank and attaching several properties.
Through his lawyers Kampala Associated Advocates Sudhir Ruparelia denies having extracted huge sums of money from Crane Bank adding that he is ready to provide evidence to back up his stand.
He also denies any knowledge and accusations that he failed to remit NSSF contributions meant for workers at the Bank but adds that if there were any mistakes he did not direct or participate in it.
In the same defense Ruparelia accuses Bank of Uganda for partly causing the collapse of Crane Bank indicating that in July last year the Central Bank barred crane Bank from carrying out business using letters of credit, Bank Guarantees, Bonds among others which crippled operations of the Bank.
He has also named BOU Governor and Deputy Governor among his witnesses.