August 29, 2022 COURT OF FIRST INSTANCE - ORDERS
Claim No. CFI 024/2021
THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
FIMBANK P.L.C
Claimant
and
(1) BHATIA TR. CO. LLC
(2) MR RAJEEV SURESH BHATIA
(3) MR SURESH TULSIDAS BHATIA
Defendants
ORDER OF H.E. JUSTICE MAHA AL MHEIRI
UPON reviewing the Claimant's Application No. CFI-024-2021/4 dated 3 August 2022 seeking declaratory relief.
AND UPON reviewing the Fourth Witness Statement of Michael Morris dated 3 August 2022
AND UPON reviewing the Fifth Witness Statement of Michael Morris dated 22 August 2022
IT IS HEREBY DECLARED THAT:
1. Pursuant to Clauses 2.1, 2.3 and 10.1 of the Guarantee Agreements dated 17 May 2018, between the Claimant and Second and Third Defendant respectively, the Second and Third Defendants’ liabilities under the Guarantee Agreements were contingent upon the Claimant sending a written demand to the Second and Third Defendants at Villa 11, Al Falaj Area, near traffic police station roundabout, Sharjah, United Arab Emirates (the “Sharjah Address”);
2. The Claimant satisfied the requirements for a written demand to be sent to the Second and Third Defendant under clauses 2.1, 2.3 and 10.1 of the Guarantee Agreements when it sent:
1. on 21 April 2022, a letter of demand dated 20 April 2022 by DHL courier to the Sharjah Address; and
2. on 31 May 2022, that same letter of demand dated 20 April 2022 by Emirates Post to the Sharjah Address.
3. By reason of the matters set out in paragraph 2, the Second and Third Defendants are liable to pay USD 2,185,764.74 under the Guarantee Agreements.
4. There be no orders as to costs.
Issued by:
Ayesha Bin Kalban
Deputy Registrar
Date of issue: 29 August 2022
At: 3pm
