Bank Of India Gets Quick £10M Win In UK Loan Default Case

Law360, London (November 14, 2019, 5:42 PM GMT) -- The London branch of the State Bank of India has won a £10 million ($13 million) default judgment against three businessmen who served as guarantors for a loan they secured from the lender for their clothing company.

The judgment from High Court Deputy Master Stephen Lloyd said that the three Jiwarjka brothers — Ashok, Dilip and Surendra — did not take part in a hearing last month on the bank’s petition for summary judgment over the loan to their British-based company, Grabal Alok (UK) Ltd. Nor were they represented by counsel, Deputy Master Lloyd added.

“None of the defendants have entered...

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