The High Court has given the Bank of Uganda (BoU) 15 days to file a defence in a case brought against it by businessman Sudhir Ruperalia, a shareholder in the now-defunct Crane Bank, who was sued for the recovery of US$80 million, allegedly taken from Crane Bank.

Last week Mr. Ruparelia filed a case, in which he accused the central bank of reneging on an agreement agreed upon in a tripartite meeting involving the lawyers representing the Crane Bank and BoU, Messrs David Mpanga of AF Mpanga and Company Advocates; Timothy Masembe Kanyerezi of MMAKS Advocates, respectively, and the businessman himself.

In the agreement dubbed the Settlement and Release Agreement agreed upon on March 20 this year, Mr. Ruparelia and the opposite side agreed to a raft of settlement proposals, bound by confidentiality clauses.

In one of the proposals the two sides agreed to halt all proceedings, both civil and criminal, against Mr. Ruparelia, if he fulfilled all the conditions as agreed in the March 20 meeting. ‘This confidential Settlement and Release Agreement is in full, complete and each of the BoU and CBL hereby fully and fiunally releases and forever discharges and shall refrain from instituting, directing, procuring, instigating or maintain any actions, sanctions whether administrative, civil or criminal in nature,’ the agreement states in part.

In respect to the March 20 agreement, on July 7, Mr. Ruparelia wrote to lawyers Masembe Kanyerezi and David Mpanga, informing them of his decision to put three multi-billion properties as security/guarantee as he seeks to offset any would-be liabilities accruing from the case lodged in court by the BoU, in six months.

In his letter, Mr. Ruparelia said his securities/guarantees included all land titles for the Speke Resort Munyonyo Limited; all his interests and properties in the Commonwealth Resort Munyonyo and, all his interests in Baumann House on Parliament Avenue. ‘In the spirit of the Settlement and Release Agreement, this is to confirm that I am committed to fulfilling my obligations in the interest of an amicable resolution of all claims surrounding my shareholding, control and management and capitalization of the Crane Bank (‘CBL’) from incorporation to the date of takeover by the Bank of Uganda, including other current and former shareholders, Directors and employees of the CBL, associates and affiliates’.

Mr. Ruparelia added: ‘Accordingly, I hereby confirm as a guarantee and security for the performance of my obligations under the ‘Settlement and Release Agreement’ I am ready to immediately hand over the certificates of title for the following properties’. The BoU-Crane Bank-Sudhir issue has caused divided opinion among those involved, with reports indicating that top officials at the BoU are reportedly divided over the procedures undertaken by the Central Bank that led to the court case. According to sources, some top managers argue that the BoU, through its Bank Supervision Directorate headed by Ms. Justine Bagyenda, failed to execute its supervision mandate.

The protagonists also argued that the BoU had not exhausted all avenues that could lead to a negotiated settlement of the stand-off.

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The Forum for Democratic Change (FDC) has implored Cabinet to hold discussions with the voters over the imminent lifting of the 75-year age limit cap for one to qualify as President of Uganda.

According to FDC deputy spokesperson Paul Mwiri, instead of the ministers issuing threats to those engaged in the debates, they should consult with the electorate before any move to amend Article 102 (b) of the Constitution that sets the age limit for presidency.

“Legislators should know who sent them to Parliament before taking a step or else they will be voted out of the House’’ Mwiru said at FDC party headquarters in Najjanankumbi.

He added: “Ugandans are angry about tampering with the constitution, before execution of what they call a big project of lifting the presidential age limit; they should first discuss and negotiate with voters who sent them to Parliament.

However, citing an example of activist William Ntege aka Kyuma kya Yesu, who accosted Kassanda South MP Simeo Nsubuga over the age limit removal, Mwiru, also a former MP, castigated those opposed to the age limit removal who have turned violent.

Last week, at the celebrations to mark Kabaka Ronald Muwenda Mutebi’s 24^th coronation in Mityana, Kyuma kya Yesu physically attacked MP Nsubuga, a development that led to Cabinet to direct the police to act against those found in breach.

“In order to stop being attacked by other activists of Ntege’s calibre, legislators should vote out the lifting of the presidential age limit,” a seemingly angered Mwiru said.

And responding to the arrest of police officer Assistant Superintendent of Police (ASP) Gilbert Arinaitwe who allegedly raped a girl, Mwiru said: “Those are the kind of people that are associated and used by president Museveni to execute his duties.”

Arinaitwe came to the limelight after the 2011 elections, when he smashed former FDC President Col. Kiiza Besigye’s vehicle at Mulago roundabout and later sprayed him with pepper, while the opposition icon was on his way to join in the ‘walk to Work’ protests.

“He (ASP Arinaitwe) was not arrested nor charged instead he was accorded security and this encouraged him to commit other crimes,” Mr. Mwiru said.

‘’Alinayitwe was cursed by Ugandans as col. Besigye forgave him and that prompted him to set up a church in Makindye’’ said FDC deputy spokesperson wondering why he still exist.

Meanwhile, the FDC has warned the Kibuku Resident District Commissioner (RDC) Margaret Wazitonya for stopping the elections aimed at filling vacant posts for the FDC officials in the area.

At the time Ms. Wazitonya said she and the police were not notified about the exercise.

Last week the party had to hold elections in among other districts Kibuku, Kabong, Rukiga and Yumbe. However, the party said it postponed the exercise due to lack of prior sensitization and mobilization.

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