Supreme Court of India
Ras Al Khaimah Investment Authority v. Matrix Pharmacorp Private Limited
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In view of the foregoing discussions, this Court passes the following directions: - i.
Judgment, page 31
In brief
RAKIA, a Ras Al Khaimah government entity, entrusted funds to Nimmagadda Prasad (NP) for the VANPIC port and industrial corridor project in Andhra Pradesh and alleged misappropriation; the RAK Court of First Instance decreed AED 267,941,374 with interest against NP, affirmed in cassation. RAKIA filed execution petitions under Section 44A CPC before the Commercial Courts at Hyderabad and Ranga Reddy, secured attachments of about Rs.212 crores of NP's assets, and applied to implead IQuest and later Matrix and Tianish, alleging they were part of NP's family-controlled web of companies.…
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