FINITO: BoU case against Dr. Sudhir Ruparelia suffers its worst defeat as Supreme Court declares move to liquidate Crane Bank (In Receivership) illegal

Following a lengthy court process that exposed both the incompetence of the legal team at the central bank and the massive flaws within its regulatory practices especially in the way several banks were taken over, closed and sold, under Mutebile’s watch or lack thereof, the central bank’s much publicised case against the billionaire businessman has crumbled like a pack of cards. It remains to be seen how much more the central bank will lose in terms of legal costs.