Katra Holdings Ltd (Appellant) v Standard Chartered Bank (Mauritius) Ltd (Respondent) (Mauritius)

Case summary

Case ID

JCPC/2022/0044

Jurisdiction

Mauritius

Parties

Appellant(s)

Katra Holdings Ltd

Respondent(s)

Standard Chartered Bank (Mauritius) Ltd

Issue

Whether the Court of Appeal erred in upholding the Judge's decision: (i) that there was no genuine and substantial dispute in relation to the debt allegedly owed to the Respondent; (ii) that the Respondent was empowered to serve a statutory demand whilst holding security; (iii) to order the winding-up of the Appellant; and (iv) to refuse the motion of the Appellant to adduce fresh evidence in the appeal hearing.

Facts

On 13 October 2015, the Respondent served a statutory demand on the Appellant claiming payment of USD 19,225,911.32 and interest, under a USD 20 million loan facility provided to the Appellant by the Respondent in December 2006.On 26 October 2015, the Appellant applied to set aside the statutory demand, alleging that (i) the debt was secured and the Respondent had not enforced or relinquished its security, and (ii) there were substantial grounds to dispute the debt as the loan facility was illegal, contravening Indian law and public policy.On 5 July 2017, the Supreme Court dismissed the Appellant's application and made an order that the Appellant be put into liquidation. Such order was made without a winding-up petition having been presented by the Respondent.The Appellant appealed the Supreme Court's decision to the Court of Appeal. The Court of Appeal dismissed a motion by counsel to adduce fresh evidence in the appeal proceedings and dismissed the appeal. The Appellant now appeals to His Majesty in Council.

Date of issue

29 April 2022

Judgment details

Judgment date

9 April 2024

Neutral citation

[2024] UKPC 8

Judgment links

Appeal

Justices

Lord Hodge

Lord Briggs

Lord Stephens

Lady Rose

Lord Richards

Hearing dates

Start date

30 January 2024

End date

30 January 2024

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