London, United Kingdom: Ugandan businessman Dr. Sudhir Ruparelia has yet again secured another powerful victory in the Crane Bank-dfcu legal battle after the High Court of Justice in London dismissed a bid by DFCU Bank to rely on a controversial forensic audit report in its defense.
The UK court struck down dfcu’s attempt to amend its pleadings to introduce allegations of corruption, fraud, and gross mismanagement against Crane Bank and its shareholders—allegations based on a discredited report produced by a company falsely operating under the PricewaterhouseCoopers (PWC) brand.
In its ruling, the UK Court agreed with Crane Bank’s submission that the report was “inadmissible,” noting that it was “prepared by an unregulated company calling itself PWC, which company is unlicensed and not allowed to make accounting reports in Uganda.”
The court further highlighted serious procedural flaws in the report, citing “several versions… some contradict each other, some are signed, some not signed, some with different signatures and some backdated,” and concluded that “this makes them unreliable as the Court cannot know which is a true version and which is not.”
Crane Bank also successfully argued that the documents lacked supporting evidence, including underlying data and appendices, meaning “the court cannot rely on them as it doesn’t see a full picture.” Moreover, the Court took note of the bank’s assertion that it has been unfairly denied access to its own records, still in possession of dfcu and the Bank of Uganda, which effectively prevents it from rebutting the contents of the report.
As a result, dfcu’s application to amend its defense and rely on the PWC report was entirely rejected, with the judge ordering costs to be paid to the Claimants, a major boost to Sudhir’s legal war chest.
The same ruling also dismissed the majority of dfcu’s intrusive disclosure requests, which sought access to personal phones, laptops, and emails of Crane Bank directors and staff. The court only allowed limited disclosure from Sheena Ruparelia’s email account and select devices used by a few individuals during the 2015–2019 period. All other wide-ranging demands were refused as unjustified.
The court also confirmed that the late Rajiv Ruparelia would be formally substituted with his estate, now represented in the case by his father, Dr. Sudhir Ruparelia.
This decision is being seen as yet another humiliating blow for dfcu and Bank of Uganda, both of whom have come under intense scrutiny for their roles in the controversial closure and sale of Crane Bank in 2016. In 2022, the Supreme Court of Uganda ruled in favor of Sudhir and Meera Investments, declaring the central bank’s takeover of Crane Bank to be illegal.
Legal experts say this ruling could prove pivotal. “By rejecting this tainted audit report, the UK court has exposed dfcu’s tactics and affirmed the importance of verifiable, admissible evidence. This is a turning point that heavily tilts the case in Sudhir’s favor,” said a source familiar with the matter.
No new court dates were set for October, with the Court instructing that further matters must first be filed before any hearing dates are scheduled.
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