To fight for justice, that too against the government in a third world country, and to be racing towards triumph so far in a complex legal battle is an extraordinary achievement. This is the story thus far of Uganda’s richest man, Dr Sudhir Ruparelia, who is currently in London.
The legal battle began in October 2016 when Bank of Uganda (BoU) took over Dr Ruparelia’s Crane Bank, citing undercapitalised. BoU reasoned that Crane Bank posed a systemic risk to the stability of the financial system and that the continuation of its activities in its current form was detrimental to the interests of its depositors. This started a process which has led to an epic battle with Dr Ruparelia for whom BoU has not just closed the bank but had shattered his prime possession. But he’s gleefully bounced back by winning his Crane Bank case.
Last Monday Justice David Wangutusi dismissed a suit by BoU against Dr Ruparelia for lack of legal basis to sue. What had begun as a strong legal case following the Central Bank’s closure of Crane Bank in 2017 ended up as a complete mess for the Central Bank.
Dr Ruparelia says that his firm belief and faith in Jalaram Bapa, a Hindu saint, continues to guide him and give him the inner strength to fight fearlessly.
Last Saturday he and his wife Jyotsna threw a party to mark the arrival of Arie, his first granddaughter. Held at his residence in Stanmore, London, the plush event brought together friends and family. Arie’s proud parents, Jay Sakari and Sheena Ruparelia-Sakari, were showered with bouquets of flowers, cards and gifts as well as blessings from elders. Baby Arie was born at the Lindo Wing Maternity, St Mary’s Hospital, London. Guests included Subhash Thakrar, Prakash Raja, Meena and Sailesh Devani, Krishna Pujara, Mansukh (Mani) Jivraj, Rajni Hathi, Nilesh Dattani, Paresh Jansari – to list just a few. In a Facebook post, Shantu Ruparelia wrote: “What a fantastic evening hosted by my dugu (brother) Sudhir Ruparelia sooo happy for double celebrations for Arie and winning the Crane Bank case sooo happy for u proud of u as u know it well.”
In spite of what some may see as emotionally turbulent times for the Ruparelia’s, they continue to flourish even more. In May this year, Dr Ruparelia and his family officially opened Kampala Kingdom, a mega-mixed use mall in the city’s central business district which took over a decade to build at a cost of over $300 million.
Separately, just last week, The Indian Association Uganda bestowed the prestigious ‘upcoming sports personality’ Indian Achiever’s Award 2019 to Rajeev, Dr Ruparelia’s son, for outstanding performance.
