LONDON( Reuters)- A London court is due to hold a hail on Friday about a$ 625 million global freezing order assessed on Indian businessman Prateek Gupta and a web of enterprises he controls.
Trafigura, which sought the order, said onFeb. 9 that it had reserved a$ 577 million charge relating to what it alleges is” methodical fraud” by Gupta’s companies over nickel loadings.
A counsel in Singapore representing Gupta and one of his companies has preliminarily declined to note, saying his customer would respond in court.
Reuters posted some of the companies involved, but didn’t admit a response.
A High Court judge in London assessed a freezing order on bank accounts and other means tied to Gupta and seven Gupta- controlled companies, including those in Britain, Singapore, Malaysia and Switzerland, which was datedFeb. 8.
Trafigura had told the judge in a unrestricted- door hail that some of the first holders audited were set up to contain carbon sword, which is worth a bit of the price of nickel.
It said in court papers it began to suspect in October last time that around,000 tonnes of essence vended by Gupta’s enterprises may not be high- grade nickel, and began examining further than,000 shipping holders.
Trafigura ended up examining 156 out of,104 holders by the time it filed court papers, none of which contained nickel.
