November 25, 2024 court of first instance - Orders
Claim No. CFI 043/2020
THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
BANK OF BARODA (DIFC BRANCH)
Claimant
and
(1) NEOPHARMA LLC
(2) NMC HEALTHCARE LLC
(3) NEW MEDICAL CENTRE LLC
(4) BAVAGUTHU RAGHURAM SHETTY
Defendants
ORDER OF CHIEF JUSTICE WAYNE MARTIN
UPON Hearing Counsel for the Claimant and Counsel for the Fourth Defendant at the Trial held on 25 November 2024 before Chief Justice Wayne Martin (“the Trial”)
IT IS HEREBY ORDERED THAT:
1. Judgment is entered against the Fourth Defendant in the amount of USD 33,248,029.70 (the “Judgment”).
2. Interest will accrue on such part of the Judgment as is outstanding from 25 November 2024 until the judgment is paid in full at the rate applicable to judgments of the court from time to time.
3. The Fourth Defendant shall pay the Claimant’s costs of the proceedings against the Fourth Defendant to be immediately assessed in accordance with the following process:
(a) The Claimant will file a revised Statement of Costs within 3 days;
(b) The Fourth Defendant will have 7 days from service of the revised statement of costs within which to file any submissions in relation to the quantum of costs claimed;
(c) The Claimant will have 3 days from service of any submissions from the Fourth Defendant within which to file a reply to those submissions.
(d) The Court will thereafter fix the quantum of the costs to be paid by the Fourth Defendant on the papers.
4. The Claimant will have liberty to apply for costs orders against third parties within 28 days of publication of the reasons for decision, by way of application served upon each third party against whom orders are sought.
Issued by:
Delvin Sumo
Assistant Registrar
Date of issue: 25 November 2024
At: 9am
