Interim Hearing Held by English High Court.
dfcu Limited (“dfcu”) informs its shareholders and the public that the English High Court has held a case management conference in the ongoing legal proceedings initiated by Crane Bank Limited (“CBL”) and other parties against dfcu and others.
The case management conference was an interim hearing in which the court issued directions on procedural steps for the claims. It is important to note that the High Court did not make any findings regarding the allegations brought by CBL and others against dfcu and the co-defendants.
Instead, the court ordered that the parties take steps to prepare for a full trial, which is scheduled to take place no earlier than October 2026.
CBL Application Dismissed by High Court.
Additionally, the High Court dismissed an application by CBL and others to limit their exposure to dfcu’s costs at this stage of the proceedings. Should dfcu successfully defend the claim, the company will seek to recover legal costs from CBL and the other claimants. CBL and others have been ordered to pay dfcu’s costs associated with this application.
Ongoing Case on CBL and dfcu.
The High Court also rejected a request by Rajiv Ruparelia, Sheena Ruparelia, and Meera Ruparelia to withhold documents in the case, ruling that, as parties to the claim, they are required to provide disclosure of relevant documents.
dfcu continues to assert that the claim lacks merit and remains committed to vigorously defending its position throughout these proceedings.
dfcu upholds the highest ethical standards and global best practices in all its operations. We are focused on delivering long-term value to our shareholders and providing excellent service to our customers.
Our subsidiary, dfcu Bank, remains financially strong and capitalised well beyond the requirements of the Central Bank.
