Ugandan businessman Sudhir Ruparelia is pursuing a compensation claim of about $225 million (approximately Shs820 billion) arising from the takeover and subsequent sale of Crane Bank.
The claim is part of a protracted legal dispute in the United Kingdom involving Mr Ruparelia, former Crane Bank shareholders, dfcu Bank, Rabobank-linked Rabo Partnerships B.V. and other parties.
According to reports, Rabo Partnerships B.V. is among the defendants in the case, together with dfcu Bank, its holding company, former executives and other investors.
Mr Ruparelia, who founded Crane Bank and was its majority shareholder, has argued that the lender was disposed of at a substantial undervalue. He has also challenged the circumstances surrounding the bank’s takeover and subsequent sale. The defendants have denied the allegations.
The dispute goes back to October 2016, when the Bank of Uganda placed Crane Bank under statutory management and took control of its operations. In January 2017, the central bank placed the lender under receivership.
Dfcu Bank later acquired Crane Bank’s assets and assumed its liabilities, setting the stage for a legal dispute that would eventually extend to the UK courts.
Crane Bank, Mr Ruparelia and other former shareholders subsequently brought proceedings against dfcu and other parties in Britain, challenging aspects of the takeover and sale.
In March 2026, the High Court in London issued a judgment concerning the case involving Crane Bank, Mr Ruparelia and the other claimants.
The former shareholders’ claim, estimated at about £170 million or $225 million, was later allowed to proceed after the UK Supreme Court dismissed attempts by dfcu and related parties to halt the proceedings.
The $225 million figure translates to approximately Shs825.8 billion, although the latest report puts the value of the claim at about Shs820 billion.
Mr Ruparelia has previously secured favourable outcomes in related legal proceedings in Uganda. In 2019, the Commercial Court dismissed a case brought against him and Meera Investments after determining that Crane Bank, following the transfer of its assets, lacked the legal standing to pursue the matter.
The current compensation claim should not be confused with a court award. It remains a claim being pursued through the ongoing legal proceedings, while the allegations raised by Mr Ruparelia and the other former shareholders remain contested.
The case continues a dispute that began with the Bank of Uganda’s intervention in Crane Bank nearly a decade ago, with the UK proceedings now set to determine whether the former shareholders will receive compensation over the takeover and subsequent sale of the bank.
