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UAE banks headed for India to recover Rs 50,000 crore

UAE banks headed for India to recover Rs 50,000 crore

Sunday, February 9, 2020, 9:35 PM

Atleast 9-banks from the UAE are in the process of initiating legal action against Indian defaulters to recover around Rs.50,000-crore, after New Delhi made the rulings of Emirati courts in civil cases-enforceable. While most of the cases involve corporate-loans taken by Dubai or Abu Dhabi-based subsidiaries of Indian-companies, action is also being planned against individuals, two people with direct knowledge of the matter said.
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