Kirtanlal International DMCC v State Bank Of India (DIFC Branch) 
Judgment has been handed down in the Court of First Instance of the DIFC by Justice Sir Jeremy Cooke.
Kirtanlal International DMCC, a steel trading company, brought a claim for damages of USD 18.51m in relation to what it said was the unlawful termination of its facility agreement with the Defendant bank. Kirtanlal claimed that the Bank acted in breach of a duty of good faith and/or a Braganza duty, alleging malice on the part of the Bank. Kirtanlal also alleged that there were breaches of tortious, fiduciary and regulatory duties by the Bank.
The Court rejected the $18.5 million damages claim.