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STATE BANK OF INDIA v MOULDS PETROCHEM [2019] DIFC CFI 069 — Commercial guarantee enforcement and the primacy of the Commercial Transactions Law (21 September 2020)
The DIFC Court of First Instance confirms that commercial guarantees are governed by the UAE Commercial Transactions Law, effectively insulating bank claims from the restrictive time-bar and procedural hurdles found in the UAE Civil Code.
STATE BANK OF INDIA v MOULDS PERTOCHEM [2020] DIFC CFI 069 — Procedural rejection of document production (16 June 2020)
The dispute centers on a procedural application filed by the Third Defendant, Viwasvat Kumar Shastri, against the Claimant, State Bank of India (DIFC Branch). The Third Defendant sought to compel the disclosure of specific records pertaining to parallel litigation occurring outside the DIFC…
STATE BANK OF INDIA v MOULDS PERTOCHEM [2020] DIFC CFI 069 — Case Management Order (11 May 2020)
The litigation centers on the recovery of debt by the State Bank of India (DIFC Branch) against the corporate entities Moulds Pertochem FZE and Moulds & Metals FZE, alongside the Third Defendant, Viwasvat Kumar Shastri.
STATE BANK OF INDIA v MOULDS PERTOCHEM [2020] DIFC CFI 069 — Default judgment for USD 9.3 million debt (10 February 2020)
The DIFC Court of First Instance confirms the procedural requirements for securing a default judgment against corporate entities in a high-value banking dispute involving international service of process.