Sudhir, Bank of Uganda Given 2 Months to Reach Agreement

Court wants Sudhir Ruparelia and Bank of Uganda to sit once more on the negotiating table

Commercial Court judge Justice David Wangutusi has issued a 60-day ultimatum to City businessman Sudhir Ruparelia and Bank of Uganda to settle their misunderstandings, or the file will be forwarded to him for commencement of hearing.

Earlier on this week, City Advocate Harriet Magala was appointed by the court to mediate in the case in which Central Bank accuses Sudhir of misappropriating 400 billion shillings from the defunct Crane Bank.

Council Magala of Kituuma-Magala and Company Advocates has been mediating cases at the Commercial Court since 2010.

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Vicent Mugabo, the Judiciary spokesperson and Registrar in charge of Mediation at Commercial Court revealed today that hearing of this case cannot kick off until the two parties have filled the mediation papers.

Mugabo adds that the mediation process is now a rule of practice to all civil matters.

This was introduced in Ugandan courts as an alternative dispute resolution mechanism mainly to clear the increased case backlog and maintain relationships between parties.

Sudhir however, yesterday expressed no commitment to the negotiations with Bank of Uganda, before pleadings have closed.

A source told ChimpReports on Wednesday morning: “Crane Bank and Bank of Uganda need to file their responses to the counter claim before any mediation can commence,” adding, “That is why I don’t think anything will happen on Thursday.”

In response to the suit against him, Sudhir last week filed his defense, which also included a counter accusation against Bank of Uganda, which he accused together with Crane Bank of breach of contract.

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