Vivek Kapoor successful in obtaining US$60 million summary judgment
In a judgment handed down on 04 July 2023 in India Infrastructure Finance Company (UK) Limited (IIFC UK) v. Reliance Naval & Engineering Limited, SKIL Infrastructure Limited & Others  EWHC 1612 (KB), the High Court (King’s Bench Division) granted summary judgment in favour IIFC UK in the sum of US$ 60.83 million. Vivek Kapoor acted as sole counsel for IIFC UK.
The case arose from a facility agreement in relation to the construction, operation and maintenance of one of the largest dry ports and shipbuilding and marine engineering infrastructures in the world. The facility was provided by IIFC UK, which is wholly owned by the Government of India. In 2016, the shipyard was acquired by the Reliance ADA Group to construct warships. One of the issues in dispute was the impact of this acquisition on the facility agreement and the corporate and personal guarantees.
The Court found that the Defendants had no real prospect of successfully defending the claim and that there is no other compelling reason why the case should be disposed of at a trial. The Court awarded IIFC UK the entirety of its claim, including default interest and liquidated damages.
The Defendants applied for a permission to appeal and for the order to be stayed, both of which were refused by the Court.