Besides, the court also directed RSM General Trading to deposit INR 57.17 Cr along with added interest in the registry of Delhi HC until the withdrawal of execution proceedings in Dubai against Honasa. RSM General Trading was Honasa’s distributor in the Middle East and African region between July 30, 2020 and January 17, 2023.
If the Dubai court still enforces the order against Honasa, then the Delhi High Court will release the money to the company, as per a filing Days after the Delhi High Court imposed interim stay on Dubai court’s order to Honasa Consumer over INR 57 Cr compensation, the court has now instructed the company’s former distributor RSM General Trading to revoke its execution proceedings in Dubai against Honasa. Besides, the court also directed RSM General Trading to deposit INR 57.17 Cr along with added interest in the registry of Delhi HC until the withdrawal of execution proceedings in Dubai against Honasa.
RSM General Trading was Honasa’s distributor in the Middle East and African region between July 30, 2020 and January 17, 2023. If the Dubai court still enforces the order against Honasa, then the Delhi High Court will release the money to the company, as per a filing. “The order is granted in favour of the petitioner and shall have a positive impact on the financials as it provides protection against execution of the decree passed by Court of First Instance in UAE, Dubai,” the filing added.
Earlier, in May UAE’s Court of full Commercial Juri.