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PUNJAB NATIONAL BANK, DIFC BRANCH v UAE EXCHANGE CENTRE [2022] DIFC CFI 043 — Setting aside default judgment and staying enforcement (07 November 2022)
The DIFC Court of First Instance vacates a significant default judgment and halts related enforcement proceedings, resetting the litigation timeline for the parties involved.
PUNJAB NATIONAL BANK v UAE EXCHANGE CENTRE [2023] DIFC CFI 043 — Consent order vacating Case Management Conference (15 September 2023)
The litigation, initiated via a Part 7 Claim Form dated 4 April 2021, involves Punjab National Bank (DIFC Branch) as the Claimant against three Defendants: UAE Exchange Centre LLC, Mr. Bavaguthu Raghuram Shetty, and Mr. Binay Raghuram Shetty.
PUNJAB NATIONAL BANK v UAE EXCHANGE CENTRE [2023] DIFC CFI 043 — Procedural timeline management in complex banking litigation (09 May 2023)
The litigation involves a claim brought by the DIFC branch of Punjab National Bank against UAE Exchange Centre LLC and two individual defendants, Mr. Bavaguthu Raghuram Shetty and Mr. Binay Raghuram Shetty.
PUNJAB NATIONAL BANK v UAE EXCHANGE CENTRE [2023] DIFC CFI 043 — Procedural timeline management in complex multi-party banking litigation (17 April 2023)
The litigation involves a high-stakes banking dispute initiated by the DIFC branch of Punjab National Bank against UAE Exchange Centre LLC and two individual defendants, Mr. Bavaguthu Raghuram Shetty and Mr. Binay Raghuram Shetty.
PUNJAB NATIONAL BANK v UAE EXCHANGE CENTRE [2022] DIFC CFI 043 — Procedural recalibration following the setting aside of default judgment (23 December 2022)
The litigation, initiated by Punjab National Bank (DIFC Branch) against UAE Exchange Centre LLC and individual defendants Bavaguthu Raghuram Shetty and Binay Raghuram Shetty, underwent a formal amendment process in late 2022.
PUNJAB NATIONAL BANK v UAE EXCHANGE CENTRE [2022] DIFC CFI 043 — Procedural extension for evidence in set-aside proceedings (01 November 2022)
The underlying litigation in CFI 043/2021 involves a high-stakes banking dispute between Punjab National Bank (DIFC Branch) and the UAE Exchange Centre LLC, alongside individual defendants Mr. Bavaguthu Raghuram Shetty and Mr. Binay Raghuram Shetty.
PUNJAB NATIONAL BANK, DIFC BRANCH v UAE EXCHANGE CENTRE [2022] DIFC CFI 043 — Default judgment for USD 37 million in facility agreement breach (25 July 2022)
The dispute centers on a breach of a facility agreement involving Punjab National Bank, DIFC Branch as the Claimant and three Respondents: UAE Exchange Centre LLC, Mr. Bavaguthu Raghuram Shetty, and Mr. Binay Raghuram Shetty.
PUNJAB NATIONAL BANK v UAE EXCHANGE CENTRE [2022] DIFC CFI 043 — Strict adherence to RDC 9.3 for electronic service (21 June 2022)
The DIFC Court of First Instance reinforces the mandatory procedural requirements for alternative service, emphasizing that electronic service via email is impermissible absent prior written consent from the respondent.
PUNJAB NATIONAL BANK, DIFC BRANCH v UAE EXCHANGE CENTRE [2022] DIFC CFI 043 — Procedural hurdles in service of process (28 April 2022)
Punjab National Bank, DIFC Branch, initiated proceedings under case number CFI 043/2021 against UAE Exchange Centre LLC and two individual defendants, Mr. Bavaguthu Raghuram Shetty and Mr. Binay Raghuram Shetty.
PUNJAB NATIONAL BANK v UAE EXCHANGE CENTRE [2021] DIFC CFI 043 — extension of time for service of claim form (25 November 2021)
Punjab National Bank, DIFC Branch, initiated proceedings under claim number CFI 043/2021 against UAE Exchange Centre LLC and two individual defendants, Mr. Bavaguthu Raghuram Shetty and Mr. Binay Raghuram Shetty.
PUNJAB NATIONAL BANK, DIFC BRANCH v UAE EXCHANGE CENTRE [2021] DIFC CFI 043 — Service by publication order (09 September 2021)
The litigation involves Punjab National Bank, DIFC Branch, as the Claimant, seeking to pursue claims against UAE Exchange Centre LLC and two individual defendants, Mr. Bavaguthu Raghuram Shetty and Mr. Binay Raghuram Shetty.