Lands ministry cancels leasehold titles of property DFCU got from Sudhir’s Meera Investments

Date:

The Ministry of Lands, Housing and Urban Development has written to the Managing Director of DFCU Bank Limited informing them that the ministry has implemented a recent court directive to cancel the leasehold titles of 48 properties that the financial institution acquired from Meera Investments Limited when it bought Sudhir Ruparelia’s Crane Bank from Bank of Uganda in 2017. Sudhihr owns Meera Investments Limited.

The letter received by DFCU and Meera Investment on 9th November, 2023 was authored by Mugaino Baker, the Commissioner Land Registration. It is titled ‘Implementation of Decree in Civil Suit No. 948 of 2017; Meera Investments Limited Vs. DFCU Bank Limited & Commissioner Land Registration.’

In the letter, Mugaino said: “You will recall that judgment in the above captioned suit was entered in the favour of the Plaintiff, Meera Investments Limited against DFCU Bank Limited and the Office of the Commissioner Land Registration. Orders were made directing the office to rectify the register in the terms set out in the decree including cancellation of the leasehold certificates of title.”

“In view of the self-executing nature of the orders of the Court and in order to avert possible contempt proceedings, this office proceeded and implemented the decree of the court to the extent of the orders made for its implementation, by rectifying the register and cancelling the leases as encumbrances on the Mailo and Freehold certificates of title registered in the names Meera Investments Limited and further by cancelling all the entries on the register and white pages of DFCU Bank Limited as proprietor of the 48 leasehold properties.

“The purpose hereof is therefore to request that, since the leasehold titles have been cancelled thereby rendering the 48 duplicate certificates of the title in your possession legally inconsequential, the same should be returned to this office to avoid any possible misuse thereof. Kindly do so within seven days from the date of receipt of this letter.

The letter was copied to the Permanent Secretary Ministry of Lands, Housing and Urban Development, the Trial Judge, Deputy Registrar High Court Land Division, Magna Advocates, M/S Katende, Ssempebewa & Co. Advocates and Meera Investments Limited.

“By Copy of this letter, Magna Advocates, learned counsel for Meera Investments Limited, M/S KATS Advocates, learned counsel for DFCU Bank Limited and the Registrar of the High Court, Land Division are hereby notified of the action so far taken by the office in compliance with the judgment and decree of the court,” Mugaino wrote in the letter.

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