- London High Court rules that a lawsuit against IIFL Wealth can proceed to trial.
- Two former Hermes shareholders allege they were defrauded during a takeover deal by Wirecard in 2015.
- IIFL Wealth established a Mauritian fund used in the deal, which is under investigation in multiple countries.
- Wirecard, which collapsed in 2020 after an accounting fraud, is not a party to the claim.
- IIFL and co-founder Amit Shah deny the allegations of fraud and dishonesty.
Wirecard suit against Indian group can proceed, High Court rules
Two former shareholders in a business sold to the payments company allege they were defrauded
Dan McCrum
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