M D OVERSEAS PRIVATE LIMITED vs DEUTSCHE BANK AG

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment Reserved on: 20th November, 2025 Judgment pronounced on: 6th January, 2026 + CS(COMM) 228/2023 M D OVERSEAS PRIVATE LIMITED .....Plaintiff Through: Mr. Anukrit Gupta, Mr. Dev Singh, Mr. Ajay Sharma & Mr. Aarya Bhat, Advocates. versus DEUTSCHE BANK AG .....Defendant Through: Mr. Rajesh Yadav, Senior Advocate with Mr. Munawwar Naseem, Advocate. CORAM: HON'BLE MR. JUSTICE AMIT BANSAL AMIT BANSAL, J. 1. The present suit has been filed seeking recovery of a sum Rs.3,45,37,097/- along with pendente lite and future interest. The suit was filed on 13th April, 2023 and summons in the suit were issued on 19th April, 2023. The Court vide order dated 16th May, 2024 observed that no oral evidence is required in the present suit. Therefore, the suit has been adjudicated on the basis of pleadings and documents filed by the parties. BRIEF FACTS 2. The plaintiff is a company engaged in diverse businesses including manufacture and export of gold jewellery and gold medallions (‘plaintiff’). Signature Not Verified Digitally Signed By:AARZOO CS(COMM) 228/2023 Page 1 of 17 Signing Date:06.01.2026 12:07:44 3. The defendant is a banking company incorporated and registered under laws of Federal Republic of Germany and is carrying on business in India (‘Defendant Bank’). 4. An ‘Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit’ (‘IE Scheme’) was launched by the Directorate General of Foreign Trade (‘DGFT’) and the Reserve Bank of India (‘RBI’) with effect from 1st April, 2015 to provide interest subvention to certain categories of exporters beyond the existing concessional rate of interest for export credit. The IE Scheme came into effect from 1st April, 2015 and was originally applicable for a period of 5 years i.e. un