Setback for NMC's Shetty in US case, may move UAE court

Quick Summary:

The other individual defendants in the case include two former top NMC executives Prasanth Manghat and Promoth Manghat.

The principle of forum non conveniens allows a court in the United States to refuse to exercise its judicial authority when it determines that the court would be an inappropriate venue for the case, and when a suitable alternative court is available.

The plaintiffs will now have to identify a more appropriate jurisdiction in which to re-file their claims." The Bank of Baroda was advised on aspects of the litigation by Poovayya & Co.

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Article Details

Author / Journalist: Stanley Pinto and Shilpa Phadnis

Category: EconomyBusiness

Markets: IndiaOmanUnited States

Topics: New York Supreme Court Fraudulent transactions Dubai-based billionaire NMC's Shetty US case Business news

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 07:10:46 (1 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 835 words

Reading Time: 5 minutes read

Sentences: 32 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 21768098

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