21 Jun 2021

Joint venture dispute between a Chinese and Indian company, both among the world’s leading and largest dye manufacturers

Senior Partner Toh Kian Sing, together with Partners Mark Cheng and Yu Zheng; Senior Associates Priscilla Soh and Tan Tian Hui; and Associate Darren Lim from Rajah & Tann Singapore are acting for Senda International Capital Limited, a wholly owned subsidiary of Zhejiang Longshang Group Co. Ltd in relation to its dispute with Kiri Industries Limited, its Indian joint venture partner, relating to their joint venture entity Dystar Global Holdings (Singapore) Pte Ltd (a Singapore-incorporated entity). Both Longsheng and Kiri are amongst the world’s leading and largest dye manufacturers. This case is significant, given the parties’ willingness to have their very substantive dispute (i.e. with differing valuation of nearly US$1.5 billion) litigated before the SICC.