A declaration stating that there are no formal leases on the premises. As a consequence of the violations and illegality, the aforementioned leases are declared null and invalid. A finding that the first defendant's occupation and continued use of the suit properties constitutes trespass.
On October 24, Justice Tadeo Asiimwe issued an injunction requiring DFCU Bank to vacate 48 leasehold properties held by the insolvent Crane Bank Limited. Dfcu Bank was additionally penalized UGX2.4 billion in fines plus 8% interest each year for trespassing on Crane Bank's properties, according to the court.
In his decision, Justice Tadeo Asiimwe also directed the commissioner of property registration to nullify 48 leases, lease revisions, and lease extensions that had been registered as encumbrances on Crane Bank's mailo and freehold titles.
The second defendant (the commissioner of land registration) is now ordered to cancel the first defendant's registration as the holder of leasehold rights in all of the suit properties. "In addition, Asiimwe issued a permanent injunction barring DFCU, its agents, and employees from visiting the Crane Bank premises.
A declaration that the plaintiff, as the registered owner of the freehold/mailo interest, is entitled to vacant possession of the suit properties within three months of the judgment date." Because Crane Bank no longer exists, the court ordered DFCU to pay the lawsuit expenses to Meera Investment Limited, the mother company of Crane Bank Limited, which filed the action on behalf of its child firm, Crane Bank.
The court determined Meera Investment Limited to be the registered owner of the freehold and mailo rights in the properties. DFCU was ordered by the court to vacate the premises within three months.
Crane Bank Limited was closed down by the central bank in October 2016, citing undercapitalization for failing to meet a capital call on July 1, and a portion of its assets were sold to DFCU Bank.
There were assets in the Bank of Uganda's ownership that were supposed to be liquidated during the liquidation proceedings. On January 12, 2017, the BoU placed CBL into receivership in line with Section 99 (1,2) of the Financial Institutions Act 2004.
After four years of deliberation, the Supreme Court determined that Crane Bank should be restored to Sudhir and ordered BoU to pay costs.
Kampala, Kasese, Masaka, Samia Bugwe, Busia, Masindi, Gulu, Malaba, Entebbe, Kabale, Hoima, Soroti, Mukono, Ibanda, Arua, and Fort Portal are among the 48 properties.