June 04, 2020 court of first instance - Orders
Claim No. CFI 031/2020
THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
CREDIT EUROPE BANK (DUBAI) LTD
Claimant/Applicant
and
NEW MEDICAL CENTRE TRADING LLC
Intended First Defendant
NMC HEALTHCARE LLC
Intended Second Defendant
BAVAGUTHU RAGHURAM SHETTY
Intended Third Defendant/Respondent
CONSENT ORDER
UPON the Applicant’s without notice application for a freezing order and provision of information order made way of its Part 8 Claim Form dated 10 April 2020 and its application notice dated 10 April 2020
UPON hearing from counsel for the Applicant at an ex parte hearing on 10 April 2020
UPON the issuance of the Freezing and Provision of Information Order of Justice Wayne Martin on 10 April 2020 as amended on 14 April 2020 and on 12 May 2020 (the “Freezing Order“)
UPON the Applicant’s application for the Freezing Order to continue until further order of the Court made way of its Application Notice dated 12 April 2020
AND UPON the Applicant and the Respondent agreeing to postpone the return hearing listed for 1pm (Dubai time) on Tuesday, 14 April 2020
AND UPON the Applicant and the Respondent agreeing to further postpone the return hearing until the first available date on or after Sunday, 7 June 2020
AND UPON the Court Registry re-listing the return hearing at 1pm (Dubai time) on Wednesday, 10 June 2020 (the “Return Date“)
AND UPON the Applicant and the Respondent agreeing to vacate the Return Date
IT IS HEREBY ORDERED BY CONSENT THAT:
1. The Return Date is vacated.
2. The Freezing Order shall continue in full force and effect until further order of the Court or full payment of any amounts to be paid by the Respondent under a final judgment issued in DIFC Courts’ Case CFI-036-2020.
3. Paragraph 1.3 of the Freezing Order is amended as follows:
“There will be no further hearing in respect of this Order, which shall continue in full force and effect until further order of the Court or full payment of any amounts to be paid by the Respondent under a final judgment issued in DIFC Courts’ Case CFI-036-2020.”
4. Paragraph 2.1 of the Freezing Order is amended as follows:
“Until further order of the Court or full payment of any amounts to be paid by the Respondent under a final judgment issued in DIFC Courts’ Case CFI-036-2020, the Respondent must not, without the prior written consent of the Applicant’s solicitors:
(a) remove from the DIFC any of his assets in the DIFC up to the value of USD 8,377,237.95; and
(b) in any way dispose of, deal with or diminish the value of his assets whether they are in or outside the DIFC up to the same value.”
5. Paragraph 5 of the Freezing Order is amended as follows:
“The costs of this application are reserved to the trial Judge in DIFC Courts’ Case CFI-036-2020.”
6. Liberty to apply.
7. Costs in the case.
Issued by:
Nour Hineidi
Deputy Registrar
Date of issue: 4 June 2020
At: 2pm
