Sudhir Confirms Kantaria Friendship

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Tycoon Sudhir Ruparelia has finally confirmed his friendship with Kenyan tycoon Rasiklal Chhotalal Kantaria, whom he denied knowing a few weeks back.

Kantaria and Sudhir were dragged to court by the Bank of Uganda over allegations that together with others they had siphoned over Shs400Bn from Crane Bank before it was wound up, closed and later sold to dfcu bank.

When the multibillion scandal broke,  Sudhirn quickly came out to deny knowing Kantaria or having had any business dealings with him. However, it has emerged that Kantaria is a very close friend of the Ruparelia family and he was even invited to attend Sudhir’s son Rajiv Ruparelia’s weeding recently.

Snoops reveal that during the celebrations of Rajiv’s wedding which was held in London, UK, over the weekend, Kantaria and his wife were seen having a joyous moment with the Joystna Ruparelia, one of her daughters and  several other Ruparelia family members.

Snoops were quick to overhear some of the guests confirming Kantaria’s friendship with Sudhir,  arguing that he wouldn’t have been invited to the wedding if he hadn’t been a close family friend.

Sudhir, Jitendra Sanghani, Joystna Ruparelia, Mohammed Ali, businessman Godfrey Kirmuira and others are some of the people implicated by BoU as having been behind  the Shs400Bn heist from Crane Bank.

Kantaria is a Kenyan tycoon and founder of Prime Bank, which has branches in Kenya and other African countries.

The Central Bank contends that Sudhir owned 28.83% of Crane Bank’s shares and 47.33% of the bank’s shares registered in the name of White Sappire Ltd, a company incorporated in Mauritius and allegedly owned by Kantaria.

Through illegal arrangements with Kantaria, White Sappire and Sanghani, the BoU argues, Sudhir dishonestly concealed his ownership and control of Crane Bank from the Central Bank, its depositors and others including the financial institution’s auditors.

RedPepper.co.ug

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