Indian banks pursue unpaid loans by Singapore’s GVK in UK court

Six Indian banks are pursuing a trial in the High Court of London against GVK Coal Developers (Singapore) and associated companies for unpaid loans amounting to around $2 billion. The case dates back to 2011 and 2014 when loan facilities were provided to the company, which the banks claim are long overdue. The trial, which began on Tuesday, will last for two weeks. GVK was only represented by an Indian advocate after reportedly disengaging their UK legal firm before the trial.