Indian Bank Wins $38M Loan Fight Against Mining Firm

Law360, London (January 22, 2021, 4:36 PM GMT) -- A judge ruled on Friday in favor of an Indian lender's claim against a mining company and three individuals over outstanding loan repayments totaling $38 million, saying the defendants had no real prospect of fighting off the lawsuit.

Daniel Toledano QC, sitting as a judge of the High Court, granted the London branch of Bank of India summary judgment in its dispute with Indian mining firm S K Sarawagi & Co. Private Ltd. and three members of the Sarawagi family.

The judge said the defendants have not filed a defense or any evidence to challenge the claim since it was brought...

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