IDBI Bank Limited (DIFC Branch) v (1) Macnes General Trading LLC (2) Mr Prashant Sethi [2022] DIFC CFI 039 (11 October 2022)

IDBI Bank Limited (DIFC Branch) v (1) Macnes General Trading LLC (2) Mr Prashant Sethi [2022] DIFC CFI 039 (11 October 2022)

The claimant is entitled to default judgment as the defendants failed to acknowledge service or file a defence, service was validly effected by publication, and all procedural requirements for default judgment were satisfied.

Citation
[2022] DIFC CFI 039
Parties
Claimant: IDBI Bank Limited (DIFC Branch); Defendant: Macnes General Trading LLC; Defendant: Mr Prashant Sethi
Jurisdiction
United Arab Emirates
Judgment Date
11 October 2022
Procedural Posture
Civil / Default Judgment
Outcome
default judgment for claimant
Legal Topics
Default Judgment, Debt Recovery, Service by Publication, Interest on Judgment Debt, Costs
Banking Law Commercial Law Default Judgment Debt Recovery Service by Publication Interest on Judgment Debt Costs

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Parties

IDBI Bank Limited (DIFC Branch)

Claimant

Macnes General Trading LLC

Defendant

Mr Prashant Sethi

Defendant

Procedural Posture

Civil / Default Judgment

Legal Issues

  1. 1 Whether the claimant is entitled to default judgment for a specified sum due to defendants' failure to acknowledge service or file a defence
  2. 2 Whether service by publication was validly effected
  3. 3 Whether the claimant is entitled to interest and costs

Ratio Decidendi

The claimant is entitled to default judgment as the defendants failed to acknowledge service or file a defence, service was validly effected by publication, and all procedural requirements for default judgment were satisfied.

Court Disposition

default judgment for claimant

Orders

  • Defendants to pay USD 9,358,308.03 jointly and severally within 14 days plus 12% interest per annum from date of order until full payment
  • Defendants to pay claimant's costs of USD 40,000 jointly and severally