Desalination Plant Backer Accuses UAE Financier Of Deceit
Law360, London (February 11, 2020, 4:50 PM GMT) -- An investor in a Norwegian water company has sued a former business partner for fraud in London for allegedly lying about its capacity to help finance a desalination plant in Saudi Arabia.
Sri Ram Tumuluri has filed a lawsuit at the High Court accusing Rupin Hemant Banker and his company, Royal Fort Infracom General Trading LLC, of misrepresenting their ability to fund the construction of an offshore floating water plant in 2019.
Banker and the United Arab Emirates-based Royal Fort helped Tumuluri and a Norwegian company, Offshore Water Desalination AS, secure some €18 million ($20 million) in financing from an Indian...
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