Bank of Baroda Director Fails to explain how he lent loan to dead man

The managing director of Bank of Baroda, Mr Ashwini Kumar, yesterday failed to explain how the bank gave a Shs15m loan to a dead man, who received the money or how much land the bank sold to recover their money.

Ms Barbara Atukunda Sseruwu dragged Bank of Baroda to Justice Catherine Bamugemereire’s land probe accusing the bank of attaching and selling her matrimonial home in Nalusuga near Gayaza in Wakiso District.

The house was bought by Charles Sserunkuma, who later sold the house to Mr Michael Mawanda, the Member of Parliament for Igara East.
“My lord, the documents on record show that Inter-Sports Uganda Limited where Seruwu was a director took the facility. He could have applied for the loan before he died,” Mr Kumal said.


However, the managing director failed to show which account the loan was deposited.
Ms Sseruwu contends that her late husband could not have borrowed money from the bank on September 14,1994, because he died on August 28, 1994.
The deputy lead counsel, Mr John Bosco Suuza, insisted that the mortgage deed against which the late allegedly obtained the loan, was questionable because it was signed by a dead man.
Ms Sseruwu also accused the bank of underselling her property at Shs5m yet it has been valued at Shs51m.

Mr Kumar, who joined the bank in 2017, could not own up on the bank’s misdeeds.
Mr Kumar reasoned that the sale was at a public auction and wondered why Ms Sseruwu did not take the bank to court then.
Ms Sseruwu wants the commission to compel the bank to return her house because she is not convinced her late husband borrowed the money.
Mr Michael Mawanda, who allegedly auctioned the land, is set to appear before the land probe to explain how he sold the land to Mr Sserunkuma and later bought it back.


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