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The Economic Times
The Economic Times

SC agrees to hear plea on Rs 500 cr UAE money decree in July as mediation fails

U U Lalit UAE the Supreme Court Abhishek Singhvi Surya Kant

Taking note of a failed mediation process undertaken by former Chief Justice of India U U Lalit, the Supreme Court on Monday agreed to hear in July a plea related to the execution of a money decree of Rs 500 crore passed by a UAE court in favour of Ras Al Khaimah Investment Authority and against Hyderabad-based industrialist Nimmagadda Prasad.

At the outset, senior advocate Abhishek Singhvi, appearing for Ras Al Khaimah Investment Authority (RAKIA), informed a bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi that the mediation process has failed and the matter be now heard by the court itself in July.

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