Abu Dhabi Commercial Bank PJSC v Shetty & Ors

Abu Dhabi Commercial Bank PJSC v Shetty & Ors

The claimant established a good arguable case for fraud and conspiracy, a real risk of dissipation of assets, and satisfied the jurisdictional gateways for service out. The English court is the proper forum. A worldwide freezing order and asset disclosure are just and convenient to preserve assets pending determination of the claim.

Parties
Claimant: Abu Dhabi Commercial Bank PJSC; Defendant: Bavaguthu Raghuram Shetty; Defendant: Khaleefa Butti Omair Yousif Almuhairi; Defendant: Saeed Mohamed Butti Mohamed Alqebaisi; Defendant: Prasanth Manghat; Defendant: Suresh Kumar Vadakke Kootala; Defendant: Prashanth Shenoy
Jurisdiction
England and Wales
Judgment Date
02 December 2020
Procedural Posture
Commercial Application / Without Notice Application for Worldwide Freezing Order
Outcome
application granted
Legal Topics
Freezing Injunction, Asset Disclosure, Jurisdiction, Service Out of Jurisdiction, Deceit, Unlawful Means Conspiracy
Commercial Law Civil Procedure Fraud Freezing Injunction Asset Disclosure Jurisdiction Service Out of Jurisdiction Deceit +1 more

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Parties

Abu Dhabi Commercial Bank PJSC

Claimant

Bavaguthu Raghuram Shetty

Defendant

Khaleefa Butti Omair Yousif Almuhairi

Defendant

Saeed Mohamed Butti Mohamed Alqebaisi

Defendant

Prasanth Manghat

Defendant

Suresh Kumar Vadakke Kootala

Defendant

Prashanth Shenoy

Defendant

Procedural Posture

Commercial Application / Without Notice Application for Worldwide Freezing Order

Legal Issues

  1. 1 Whether the claimant has a good arguable case for fraud and conspiracy
  2. 2 Whether there is a real risk of dissipation of assets justifying a worldwide freezing order
  3. 3 Whether the English court has jurisdiction over the defendants

Ratio Decidendi

The claimant established a good arguable case for fraud and conspiracy, a real risk of dissipation of assets, and satisfied the jurisdictional gateways for service out. The English court is the proper forum. A worldwide freezing order and asset disclosure are just and convenient to preserve assets pending determination of the claim.

Court Disposition

application granted

Orders

  • Worldwide freezing order against all defendants
  • Asset disclosure order