Tycoon Sudhir's Meera Investment drags DFCU to Court over its intention to sell Crane Bank branches - Whisper Eye

Tycoon Sudhir’s Meera Investment drags DFCU to Court over its intention to sell Crane Bank branches

Dr Sudhir Ruparelia Company Meera Investiments has sued Uganda commercial Bank ” Dfcu Bank “to Kampala High Court  Land Division. Meera Investment seeks to reclaim its 46 branches across the country  following the dissolution of Crane Bank commercial bank that was owned by Meera investment.

According to the plaint seen by whisper eye media in Kampala  Meera has also sued alongside DFCU Bank along side , The  Commissioner of Land Registration.

Meera Investments  its contends that it is the rightful owner of the 46 branches formerly trading as Crane Bank and that for any transfer to have been effected to Dfcu Bank; it is consent should have first been sought.

It also contends that the Commissioner of land registration connived with DFCU Bank to transfer the leases of the 46 properties into the latter’s names without the written prior consent of Meera Investments, a move which is unlawful .

Meera Investments, wants Kampala High Court to declare that the continued presence of DFCU Bank on its properties amounts to trespass and that they should  vacate the premises with immediate effect.

 

It also seeks court to order the Commission of  land registration to immediately cancel out DFCU Bank as being illegal owners those suit properties and reinstate them as the rightful owners.

Meera in its law suit, avers that at the time when Bank of Uganda (BoU) took over the management of then Crane Bank, now under receivership, in October 2016 before its eventual sell to DFCU, was the lessee of the suit properties and paying US $6,000 every beginning of the year.

 

More of this story shall follow shortly……

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