November 07, 2022 court of first instance - Orders
Claim No: CFI 043/2021
IN THE DUBAI INTERNATIONAL FINANCIAL CENTRE COURTS
IN THE COURT OF FIRST INSTANCE
BETWEEN
PUNJAB NATIONAL BANK, DIFC BRANCH
Claimant
and
(1) UAE EXCHANGE CENTRE LLC
(2) MR. BAVAGUTHU RAGHURAM SHETTY
(3) MR. BINAY RAGHURAM SHETTY
Defendants
ORDER OF H.E. JUSTICE NASSIR AL NASSER
UPON reviewing the Defendants’ Application No. CFI-043-2021/5 dated 13 October 2022 seeking an Order to set aside the Default Judgment dated 25 July 2022 and to stay the Enforcement Order dated 21 September 2022 (the “Application”)
AND UPON reviewing all documents filed in support of the Application
AND PURSUANT TO Part 14 of the Rules of the DIFC Courts (“RDC”)
IT IS HEREBY ORDERED THAT:
1. The Application is granted.
2. The Default Judgment dated 25 July 2022 shall be set aside.
3. The Enforcement proceedings under ENF-162-2022 shall be stayed.
4. Costs shall be costs in the case.
Issued by:
Delvin Sumo
Assistant Registrar
Date of Issue: 7 November 2022
Time: 9am