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Cairn Energy Plc et al v. Air India Ltd.: Complaint

May 14, 2021 - Complaint "to determine and resolve questions of actual controversy involving the relationship between India's wholly-owned national airline, Air India, and India, and in particular, whether Air India is the alter ego of India" and for "a money judgment adjudging that Air India is jointly and severally liable to satisfy the judgment Plaintiffs expect to be awarded against India based on a pending petition to confirm an arbitration award" for $1.2 billion in Cairn Energy Plc and Cairn UK Holdings Limited, both of Scotland v. Air India Ltd., of India, at the U. S. District Court for the Southern District of New York.

Sapien Capital Ltd.: £178K Fine

May 06, 2021 - Final Notice by the United Kingdom's Financial Conduct Authority that it has imposed a fine of £178,000 on Sapien Capital Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert at Companies House for England and Wales showed that Sapien Capital Limited was incorporated on October 24th, 2007 and its directors and controlling persons are Ramesh Kumar Ahuja, a citizen of India, and Aditi Aggarwal, an Indian chartered accountant, while the company's website identifies its "Team" as Ramesh Kumar Ahuja, "CEO and Director"; Aditi Aggarwal, "Director", and Matthew Hill, "Head of Compliance and MLRO".

Daniel Snyder v. Bruce Allen: Discovery Application

April 23, 2021 - Application by Daniel Snyder, described as "a businessman and philanthropist best known for his ownership of the Washington Football Team", to take discovery from Bruce Allen, described as "the former President and General Manager of the Washington Football Team, previously known as the Washington Redskins", for use in legal proceedings in India alleging defamation, filed at the U. S. District Court for the District of Arizona.

Deutsche Telekom v. India: Petition to Confirm Arbitral Award

April 19, 2021 - Petition to Confirm Foreign Arbitral Award in the amount of $135 million in Deutsche Telekom AG, of Germany v. The Republic of India at the U. S. District Court for the District of Columbia.

Guernsey regulator suspends investment fund Remus Horizons

April 15, 2021 - The registration of investment fund Remus Horizons PCC Limited, which is part of a group that includes individuals and companies in or from Australia, England, Guernsey, Hong Kong, India, Ireland, Italy, Texas, and the United Arab Emirates, has been suspended by the Guernsey Financial Services Commission less than five months after it was granted.

Greensill Capital Inc.: Chapter 11 Petition

March 25, 2021 - Chapter 11 Petition by Greensill Capital Inc., a Delaware-domiciled "financial services company" that "arranged factoring and reverse factoring programs for clients globally" and which is directly owned by Greensill Capital Management (UK) Limited, of the United Kingdom, and indirectly owned by Greensill Capital Pty Limited, of Australia, and is part of a group that includes companies in Australia, Brazil, Cayman Islands, Germany, India, Isle of Man, Netherlands, Singapore, Switzerland, South Africa, United Arab Emirates, and United Kingdom, at the U. S. Bankruptcy Court for the Southern District of New York.

VoIP Guardian Partners I LLC v. VoIP Guardian LLC et al: Complaint

March 10, 2021 - Complaint for damages of at least $172 million alleging fraudulent transfers, breach of fiduciary duty, and unjust enrichment in VoIP Guardian Partners I LLC, described as "a telecom factoring company" v. VoIP Guardian LLC, of Delaware; Rodney Omanoff, of California; Omanoff America LLC, of Delaware; Omanoff America Telecom LLC, of Delaware; Contacts & Contracts Inc., of Delaware; Mudmonth LLC, of Nevada; Philipson International LLC, of Delaware; Richard Omanoff, Owl America Inc., of Delaware; Mark Proto, of California; Joseph Rahman, of New Jersey; Youssef Rahman, Zoom Telecom Inc., of Nevada; John O. Philipson, of California; DealDefenders LLC, of Delaware; Ikarim Business Services Ltd., of the United Kingdom; I Karim Business Services LLC, of Delaware; IKB Services Ltd., of the United Kingdom; IKBS LLC, of Delaware; Mohammed Shakeel Mughal, of England; Najd Technologies Limited, of Dubai; Indigo11 Services Limited, of the United Kingdom; Indigo 11 Services LLC, of Delaware; Nazmul Hoque, of England; Telacme Limited, of Hong Kong; Balaji Mahadevan, of India; Colin Bernard Eccles, of Ireland; LtdTel SL, of Spain; Inter-Switch Ltd., of Hong Kong; Vineet Singh Notwal, of Hong Kong; Shirley Sabia Therese van Kerkhove, of Hong Kong; Arco Telecom Limited, of Gibraltar; Tee Telecommunications Inc., of New Jersey; 2365 Azure LLC, of Florida, and Tarek Katis, of New Jersey, at the U. S. District Court for the Central District of California.

Commercial Bank of Dubai v. Bavaguthu Shetty: Complaint

March 08, 2021 - Complaint in Commercial Bank of Dubai PSC, of Dubai v. Bavaguthu Raghuram Shetty, whom it was claimed in the complaint was described as "India's richest billionaire" by Forbes magazine "a little over a year ago" but whose "empire has collapsed in accounting frauds of astonishing scope" since then, at the Supreme Court of the State of New York, County of New York.

Rakesh Khatri v. Gain Bitcoin et al: Complaint

February 26, 2021 - Complaint alleging fraud involving cryptocurrencies in Rakesh Khatri, a citizen of the United States, individually and as assignee of Reshma Khatri, Abishek Raja, Amit Kushwaha, Anchit Singh, Arvind Singh Bajetha, Ashish Lal, Ashitosh Sampat Raje, Ashok Kumar, Bhagyesh Hanumante, Chakresh Jain, Dharmender Shera, Gagan Deep Joshi, Gaurav Chhabra, Girija Raman, Karthik Raman, Lalit Kumar, Lokesh Sharma, Mohamed Haneefa Kottayil, Mohit Malhotra, Mukesh Gupta, Navneet Bhalla, Nikhil Jadhav, Pritpal Singh, Raghavendra R. Athani, Sachin Chavhan, Sanchit Malik, Saurab Wadhera, Shyam Singh, Siddhant Jain, Vikash Bhagat, Yash Jain, Ismail Nadukkandyil, Aarjav Jain, Siddharth Jain, Sanjay Jain, Mayank Jain, Vivek Tiwari, Malthesha P, Shubham Gupta, Sandeep Grewal, Nitin Koshti, Abishek Chauhan, Amar Singh Chandel, Priyavardhini Venkatram, Ajay Singh, Rajbir, Moumita Das, Rajesh Mehra, P.C. Mahajan, Pooja Ahirwar, Albert Ahirwar, Rani Singh, Shyam Lal, Anjan Roy, Arvinder Pal Singh, Vipin Sahney, Arpit Jain, Mukul Gupta, Aman Singhal, Brijesh Soni, Mahesh Vittal Yadav, Aman Paharia, Sandeep Bhalla, Sanjay Ahlawat, Atul Bhalla, Deepak Kumar, Balkrishna Baburao Raje, Girija Silver, Gaurav Gupta, Skalyan, and Deepak Shukla, all citizens of India v. VariableTech Private Limited, d.b.a. Gain Bitcoin, of Singapore; Amaze Mining and Blockchain Research Ltd., of Hong Kong; GBMiners, Mineral Mining Limited Company, described as "a company located in the United Arab Emirates"; Sun & Sand Mining & Minerals Resource (UK) Limited, described as "a company located in England"; Coin Bank-Safe Bitcoin Wallet, ZebPay Exchange, a.k.a. Zebay, a.k.a. Zeb Pay, described as "a cryptocurrency exchange, virtual wallet, and/or wallet provider headquartered in Singapore with a registered office in Australia"; Amit Bhardwaj, Ajay Bhardwaj, and Hemant Bhope at the U. S. District Court for the Northern District of Indiana.

Stream TV Networks Inc.: Chapter 11 Petition

February 25, 2021 - Chapter 11 Petition by Stream TV Networks Inc., which "was founded in 2009 as a "new media" company to pursue new technologies that enhance user entertainment and communications experiences", at the U. S. Bankruptcy Court for the District of Delaware. Creditors include those from Bermuda, Dubai, England, France, Germany, Guernsey, India, Ireland, Jersey, in the Channel Islands; Italy, Kuwait, Liechtenstein, Switzerland, and Taiwan.

We hunt for red flags in high-value, cross-border finance by monitoring offshore and onshore courts, regulatory actions, offering documents, and other sources - and email you the results.

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Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
David Marchant
As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.