Indian Banks Win FX Derivatives Default Ruling

The Supreme Court of India has ruled that parties that fail to pay dues against fx derivatives contracts can be declared willful defaulters by banks, which can then legally move to recover the funds.

  • 12 Dec 2012

The Supreme Court of India has ruled that parties that fail to pay dues against fx derivatives contracts can be declared willful defaulters by banks, which can then legally move to recover the funds. Companies had argued that the willful-default rule applied only to loans.

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