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ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2025] DIFC CFI 034 — Quantification of costs following failed appeal (13 August 2025)
The litigation between ICICI Bank Limited and Mr Bavaguthu Raghuram Shetty has been characterized by extensive procedural skirmishing, culminating in a series of applications regarding the Defendant's right to appeal the court's earlier findings.
ICICI Bank v Mr Bavaguthu Raghuram Shetty [2025] DIFC CFI 034 — Dismissal of renewed application for permission to appeal (26 June 2025)
The DIFC Court of First Instance confirms the dismissal of a renewed application for permission to appeal, reinforcing strict procedural adherence regarding the late introduction of new defenses in high-value guarantee enforcement litigation.
ICICI Bank Limited v Bavaguthu Raghuram Shetty [2022] DIFC CFI 034 — Personal guarantee enforcement and forgery allegations (17 February 2025)
The dispute centered on the liability of Dr Bavaguthu Raghuram Shetty, the founder and former CEO of NMC Healthcare LLC, for debts incurred by NMC and Modular Concepts LLC. ICICI Bank Limited sought to recover funds exceeding USD 125 million, arguing that Dr Shetty had executed multiple Deeds of…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2024] DIFC CFI 034 — Procedural extension for closing submissions (12 November 2024)
The DIFC Court of First Instance formalizes a procedural timeline adjustment following the conclusion of trial proceedings in the high-stakes banking dispute between ICICI Bank and Bavaguthu Raghuram Shetty.
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2024] DIFC CFI 034 — Procedural extension for closing submissions (04 November 2024)
The litigation in CFI 034/2022 involves a high-stakes banking dispute initiated by ICICI Bank Limited against Bavaguthu Raghuram Shetty. While the specific underlying financial claims remain subject to the ongoing adjudication process, the matter has reached the post-trial stage, with the parties…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2024] DIFC CFI 034 — Adjournment of trial proceedings (01 October 2024)
The litigation concerns a significant banking claim brought by ICICI Bank Limited against Bavaguthu Raghuram Shetty. While the specific quantum of the claim remains subject to ongoing judicial scrutiny, the dispute arises from complex financial arrangements involving the defendant, a prominent…
ICICI Bank v Bavaguthu Raghuram Shetty [2024] DIFC CFI 034 — Procedural management of expert evidence and document production (18 September 2024)
The litigation involves a high-stakes banking dispute where the Defendant, Bavaguthu Raghuram Shetty, sought to compel the Claimant, ICICI Bank, to produce 11 specific documents. Simultaneously, the Defendant challenged the validity of the Claimant’s Supplemental Expert Report (SER) dated 12 August…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2024] DIFC CFI 034 — Procedural refinement of trial preparation (11 September 2024)
The litigation in CFI 034/2022 represents a high-stakes banking dispute involving ICICI Bank Limited and the defendant, Bavaguthu Raghuram Shetty. While the specific underlying claims remain subject to the ongoing proceedings, the matter has reached a stage where the parties are actively preparing…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2024] DIFC CFI 034 — Consent order amending expert evidence timetable (25 July 2024)
The litigation under case number CFI 034/2022 involves a high-stakes claim brought by ICICI Bank Limited against Bavaguthu Raghuram Shetty. While the specific underlying cause of action remains subject to the broader proceedings, the case represents a significant commercial dispute within the DIFC…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2024] DIFC CFI 034 — Procedural refinement of witness evidence exchange (29 April 2024)
The litigation involves a high-stakes banking dispute initiated by ICICI Bank Limited against Bavaguthu Raghuram Shetty. While the specific underlying commercial claims—often associated with complex debt recovery and corporate insolvency matters involving the defendant—are not detailed in this…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2024] DIFC CFI 034 — Procedural refinement in high-stakes banking litigation (18 April 2024)
This consent order formalizes a revised evidentiary timeline in the ongoing banking dispute between ICICI Bank and Bavaguthu Raghuram Shetty, ensuring the trial remains on track for July 2024.
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2024] DIFC CFI 034 — Procedural refinement via consent order (01 April 2024)
The litigation involves a high-stakes banking dispute initiated by ICICI Bank Limited against Bavaguthu Raghuram Shetty. While the specific underlying commercial claims—often associated with complex debt recovery and financial obligations in the DIFC—are currently in the pre-trial phase, the matter…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2024] DIFC CFI 034 — Procedural recalibration of high-stakes banking litigation (23 February 2024)
The litigation involves a significant banking dispute between ICICI Bank Limited, acting as the Claimant, and Bavaguthu Raghuram Shetty, the Defendant. While the underlying merits of the claim remain subject to ongoing proceedings, the case represents a high-profile matter within the DIFC’s civil…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2024] DIFC CFI 034 — Procedural refinement of document production (05 February 2024)
The litigation between ICICI Bank Limited and Bavaguthu Raghuram Shetty concerns a substantial banking dispute currently navigating the DIFC Court of First Instance. The matter reached a juncture where the parties required an adjustment to the existing case management framework to facilitate the…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2024] DIFC CFI 034 — Procedural timetable amendment by consent (22 January 2024)
The litigation under case number CFI 034/2022 involves a high-stakes banking dispute between ICICI Bank Limited, acting as the Claimant, and Bavaguthu Raghuram Shetty, the Defendant.
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2023] DIFC CFI 034 — Case management order regarding forgery allegations (29 November 2023)
The litigation concerns the enforcement of personal guarantees allegedly executed by Bavaguthu Raghuram Shetty to secure credit facilities provided to the NMC Group and Modular. The Claimant, the DIFC branch of ICICI Bank, seeks to recover substantial sums stemming from these facilities, which have…
CTB FINANCE v DUBAI INSURANCE CO [2023] DIFC CFI 034 — Procedural amendment of trial preparation deadlines (08 September 2023)
The litigation involves a Part 7 claim initiated by The CTB Finance Ltd against Dubai Insurance Co PSC, filed on 5 July 2022. While the underlying substantive merits of the claim remain confidential, the procedural history of the case indicates a complex preparation phase requiring multiple…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2023] DIFC CFI 034 — Procedural adjustment of the Reply deadline (11 August 2023)
The litigation involves a high-stakes banking dispute initiated by ICICI Bank Limited against Bavaguthu Raghuram Shetty. While the specific underlying causes of action are not detailed in this procedural order, the matter is categorized under the Banking sector within the DIFC Court of First…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2023] DIFC CFI 034 — Procedural adjustment of litigation timelines (13 July 2023)
The lawsuit concerns a significant banking dispute between ICICI Bank Limited and Bavaguthu Raghuram Shetty. While the underlying merits of the claim remain subject to ongoing litigation, the immediate procedural focus of this application was the management of the exchange of pleadings.
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2023] DIFC CFI 034 — Procedural timeline for Statement of Defence (23 May 2023)
The litigation involves a claim brought by ICICI Bank Limited against Bavaguthu Raghuram Shetty. While the substantive merits of the banking dispute remain to be fully ventilated in the pleadings, the matter reached a procedural milestone following the service of the Particulars of Claim on 19…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2023] DIFC CFI 034 — procedural dismissal following withdrawal of service extension application (18 May 2023)
The DIFC Court of First Instance formalizes the dismissal of a procedural application for an extension of time to serve process after the claimant voluntarily withdrew its request.
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2022] DIFC CFI 034 — Extension of time for service of claim form (14 November 2022)
The dispute concerns a civil claim initiated by ICICI Bank Limited against Bavaguthu Raghuram Shetty, filed with the DIFC Court on 12 May 2022. While the underlying substantive merits of the banking claim remain subject to ongoing proceedings, the immediate procedural hurdle involved the Claimant’s…
ICICI BANK v BAVAGUTHU RAGHURAM SHETTY [2022] DIFC CFI 034 — Refusal of alternative service via email (11 October 2022)
The dispute arises from a claim initiated by ICICI Bank Limited against Bavaguthu Raghuram Shetty. Seeking to progress the litigation, the Claimant filed an Application Notice on 6 October 2022, requesting the Court’s permission to bypass standard international service protocols.