UPDATE 1-UAE court adjourns bounced cheque case of Abraaj founder | Reuters:
A Sharjah court has adjourned until July 11 a case involving the founder of private equity firm Abraaj, Arif Naqvi, and another executive for issuing a cheque without sufficient funds, a lawyer involved in the case said on Thursday.
The court case in Sharjah, one of the United Arab Emirates, relates to a cheque for 177.1 million dirhams ($48 million), signed by Naqvi and a fellow executive, and written to Hamid Jafar, another founding shareholder in Dubai-based Abraaj, according to a prosecution document.
Khalid al-Bannay, from Al Tamimi & Co, the law firm representing Jafar, said the court has adjourned the case until July 11.
No comments:
Post a Comment