Indian court extends restraining order on directors of Singapore-owned JV
An Indian court has extended a restraining order against two directors of a Singapore-owned joint venture, Woh Hup, amid a lawsuit alleging fiduciary breaches. The case involves claims of corruption and bribery linked to projects in Pune involving Temasek-backed developers.
Why it matters
The case highlights significant corporate governance and corruption risks for international investors operating within the Indian construction sector.
Share The case involves alleged inaction over bribes paid to staff of a Temasek-backed developer in connection with a development project in Pune. Lee Kim Tah (Pte) Ltd is suing two directors of joint venture partner Woh Hup (Private) Limited in Bengaluru, India for alleged breaches of fiduciary duties to L&W Construction Private Limited. (L&W Construction PL Facebook pic) PETALING JAYA : Two directors of an Indian joint venture owned by two of Singapore’s largest construction companies remain barred from entering into transactions without board approval, after an Indian court refused to lift a restraining order on Wednesday. Woh Hup (Private) Limited chairman Kim Yong and his brother Eugene, a director, are seeking to set aside the interim order obtained against them last month in a lawsuit filed by joint venture partner Lee Kim Tah (Pte) Ltd in Bengaluru.
The article reports on legal proceedings and allegations without taking a side or using loaded language.
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