ca 014/2019

IDBI BANK v AMIRA C FOODS INTERNATIONAL [2019] DIFC CA 014 — Appellate review of damages for breach of irrevocable undertaking (06 July 2020)

The litigation arose from a breakdown in a supply-chain financing arrangement between IDBI Bank and Amira C Foods International DMCC. Amira, a major supplier of Indian basmati rice, relied on credit facilities provided by the Bank to procure commodities from its primary supplier, A K Global…