Indian Bank Can't Get Early Win In £6.9M Loan Facility Suit

Law360, London (March 16, 2020, 6:05 PM GMT) -- A dispute between an Indian bank and the director of an IT company over liability for a £6.9 million ($8.3 million) loan facility may now go to trial, after a High Court judge declined to give a summary ruling in the case.

The judge, Chief Master Matthew Marsh, ruled Friday that Punjab National Bank (International) Ltd. did not meet the “evidential burden” required to dispense with a trial for its claims that Akshay Malhotra acted as a personal guarantor for now-dissolved Techtrek India Ltd. in the loan, which was issued in 2013.

Malhotra claimed his signature, on the last page of the guarantee,...

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