March 16, 2021 court of first instance - Orders
Claim No. CFI 027/2018 / CA 014/2019
THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
(1) AMIRA C FOODS INTERNATIONAL DMCC
(2) A K GLOBAL BUSINESS FZE
Claimants/Respondents
and
IDBI BANK LIMITED
Defendant/Appellant
and
KARAN A CHANANA
Third Party/Additional Respondent
CONSENT ORDER
UPON the Consent Order dated 18 February 2020 in CFI-027-2018 (the “18 February 2020 Consent Order”)
AND UPON reviewing the Order of Justice Sir Richard Field dated 20 May 2020 in related proceedings CFI-022-2020 (the “Part 8 Proceedings”) (the “20 May 2020 Order”)
AND UPON reviewing the Judgment of Justice Wayne Martin and accompanying Order dated 6 July 2020 in CA-014-2019 (the “Appeal Judgment”)
AND UPON the parties having agreed to the terms set forth in this Consent Order
IT IS HEREBY ORDERED BY CONSENT THAT:
1. The bank guarantee (no. 1234) dated 17 March 2020 provided to the DIFC Courts’ Registry pursuant to paragraphs 4 to 6 of the 18 February 2020 Consent Order shall be extended from 16 March 2021 to 16 September 2021.
2. The Registrar of the DIFC Courts shall only call on the bank guarantee and release payment to the Claimants/Respondents:
(i) after the conclusion and final determination of the Part 8 Proceedings by the DIFC Courts; and
(ii) subject to and following set-off to be effected between (i) the sums awarded under the Judgment dated 29 September 2019 in CFI-027-2018, the Order dated 22 January 2020 in CFI-027-2018 and the Appeal Judgment; and (ii) any sums awarded at the conclusion of the Part 8 Proceedings, so as to give effect to the 20 May 2020 Order.
3. The parties shall have liberty to apply.
Issued by:
Ayesha Bin Kalban
Deputy Registrar
Date of Issue: 16 March 2021
At:10am
