6 Indian banks win UK HC challenge over unpaid loans by Singapore s GVK business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
In a significant legal victory, six Indian banks have successfully won a court ruling in the London High Court against GVK Coal Developers (Singapore) Pte Ltd and associated entities. The total dues is estimated at $2 billion including interest. The case dates back to 2011 and 2014 when the banks provided loan facilities to GVK Coal Developers, which had become overdue.
GVK group s GVK Coal Developers had borrowed $1 billion and $159,973,008 from six Indian banks, in 2011 and 2014, to fund its interests in Australian coal and infrastructure projects. While the loans remain unpaid, GVK tried to sell Bengaluru and Mumbai airports without the banks knowledge.
Global Muslim body strips status of Swedish envoy over increasing Quran burning stunts dohanews.co - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dohanews.co Daily Mail and Mail on Sunday newspapers.