Indian Bank Loses UK Jurisdiction Appeal In Fraud Case

By Bonnie Eslinger (December 17, 2019, 6:46 PM GMT) -- A London judge Tuesday penalized Punjab National Bank's U.K. arm for not disclosing litigation it brought in the U.S. and India by dismissing a jurisdictional appeal related to nine defendants its suing over $45 million in loans.

Punjab National Bank (International) Ltd. appealed an order from another judge, which determined that the London-based bank couldn't serve the claim to the defendants, who all lived in either the U.S. or India, for lack of jurisdiction.

While significant factors pointed toward England as an appropriate forum — namely that PNB was based in London and that's where the lending deals were struck —...

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