We secured judgement for Bank of India in its successful High Court claim concerning Nirav Modi’s liability under a personal guarantee.
The Court found that Mr Modi is liable to the Bank for the principal amount of USD $4.1 million along with accrued interest, taking total liability to over $10.7 million. The decision follows earlier summary judgment obtained by Bank of India against Firestar Diamond FZE and addressed Mr Modi’s liability as guarantor.
Leading Bank of India’s legal team, Partner Milan Kapadia said: “Bringing this long-standing and hard-fought dispute to this stage required a sustained and coordinated effort by the Bank and its advisers across several jurisdictions. We are pleased to have helped Bank of India secure judgment against Mr Modi under the Personal Guarantee.”
Alongside Milan, Associate Maria Marcia Perez and Trainee Will Mcintyre were also part of the Fladgate team. Tom Beasley of Radcliffe Chambers, and Sushmita Gandhi of Trilegal, instructed by Fladgate, appeared for Bank of India.
