cfi 001/2023

IDBI BANK v SIMMTRONICS SEMICONDUCTORS [2023] DIFC CFI 001 — Default judgment for USD 10.1M debt recovery (24 May 2023)

The dispute centers on a significant debt recovery action initiated by IDBI Bank Limited against a multi-jurisdictional corporate entity and two individual guarantors. The respondents, Simmtronics Semiconductors Ltd FZE, Simmtronics Semiconductors PTE Ltd, Mr. Indrajit Sabharwal, and Mrs.