Honasa Consumer Ltd. Reduces Compensation in Dubai Court Litigation to AED 1.7 Million

Honasa Consumer Limited has received a judgment from the Court of Appeal, Dubai, UAE, significantly reducing the compensation amount to RSM General Trading LLC from approx. AED 25 Million to AED 1.7 Million. The Court of Appeal noted that RSM had breached certain contractual obligations, particularly failing to meet expected sales performance during the Agreement term. Honasa Consumer Ltd. intends to file an appeal before the Cassation Court, the Highest Court of Dubai, UAE, within 30 days and in accordance with UAE procedural laws. The company had earlier filed a Petition under section 9 of Arbitration and Conciliation Act, 1996 before Hon’ble Delhi High Court, which allowed the petition and granted an anti-enforcement injunction to the Company restraining RSM to enforce any judgment or decree passed by the Dubai Courts.