Epoch Minerals v Raffles Asset Management: Stay of Proceedings & Conspiracy to Defraud
In Epoch Minerals Pte Ltd v Raffles Asset Management (S) Pte Ltd and others, the Singapore High Court heard an appeal regarding a stay of proceedings. Epoch Minerals claimed that Raffles Asset Management and others conspired to defraud them. The High Court dismissed the appeals, allowing the action against AKS Consultants Pte Ltd, Kamil Bin Jumat, and Gangadhara Brhmendra Srikanth Maroju to proceed, despite a stay granted to Raffles Asset Management in favor of arbitration. The court reasoned that case management considerations do not outweigh the plaintiff's right to pursue their claim against all defendants.
1. Case Overview
1.1 Court
High Court1.2 Outcome
Appeals dismissed with costs in the cause.
1.3 Case Type
Civil
1.4 Judgment Type
Grounds of Decision
1.5 Jurisdiction
Singapore
1.6 Description
Singapore High Court judgment regarding a stay of proceedings in a conspiracy to defraud case. The court dismissed the appeals, allowing the action to proceed.
1.7 Decision Date
2. Parties and Outcomes
| Party Name | Role | Type | Outcome | Outcome Type | Counsels |
|---|---|---|---|---|---|
| Gangadhara Brhmendra Srikanth Maroju | Defendant | Individual | Appeal dismissed | Lost | |
| Epoch Minerals Pte Ltd | Plaintiff | Corporation | Appeals dismissed | Won | |
| Raffles Asset Management (S) Pte Ltd | Defendant | Corporation | Stay of proceedings granted | Stayed | |
| AKS Consultants Pte Ltd | Defendant | Corporation | Appeal dismissed | Lost | |
| Kamil Bin Jumat | Defendant | Individual | Appeal dismissed | Lost |
3. Judges
| Judge Name | Title | Delivered Judgment |
|---|---|---|
| Choo Han Teck | Judge | Yes |
4. Counsels
4. Facts
- Epoch Minerals employed Gangadhara to find investors.
- Gangadhara claimed to have found a company, AMC, interested in investing US$5m.
- Epoch Minerals paid US$300,000 to AKS for due diligence and margin money.
- Epoch Minerals paid a commission of US$100,000 to Gangadhara.
- The Term Sheet was signed by Epoch Minerals and Raffles Asset Management.
- No investment money came in from Raffles as agreed after US$600,000 was paid.
- The Term Sheet contained an arbitration clause.
5. Formal Citations
- Epoch Minerals Pte Ltd v Raffles Asset Management (S) Pte Ltd and others, Suit No 79 of 2018, [2018] SGHC 223
6. Timeline
| Date | Event |
|---|---|
| Gangadhara employed by Epoch Minerals Pte Ltd to find investors. | |
| Hearing date | |
| Judgment date |
7. Legal Issues
- Stay of Proceedings
- Outcome: The court dismissed the appeals for a stay of proceedings against the defendants not bound by the arbitration clause.
- Category: Procedural
- Related Cases:
- [2016] 1 SLR 373
- Conspiracy to Defraud
- Outcome: The court allowed the action for conspiracy to defraud to proceed against the defendants not bound by the arbitration clause.
- Category: Substantive
8. Remedies Sought
- Monetary Damages
9. Cause of Actions
- Conspiracy to Defraud
10. Practice Areas
- Commercial Litigation
- Arbitration
11. Industries
- Mining
12. Cited Cases
| Case Name | Court | Affirmed | Citation | Jurisdiction | Significance |
|---|---|---|---|---|---|
| Tomolugen Holdings Ltd and another v Silica Investors Ltd and other appeals | Court of Appeal | Yes | [2016] 1 SLR 373 | Singapore | Cited regarding whether case management justifies a stay of proceedings in favour of arbitration. |
13. Applicable Rules
| Rule Name |
|---|
| No applicable rules |
14. Applicable Statutes
| Statute Name | Jurisdiction |
|---|---|
| No applicable statutes | |
15. Key Terms and Keywords
15.1 Key Terms
- Stay of Proceedings
- Arbitration Clause
- Conspiracy to Defraud
- Term Sheet
- Margin Money
15.2 Keywords
- Stay of proceedings
- arbitration
- conspiracy
- fraud
- singapore
- high court
17. Areas of Law
| Area Name | Relevance Score |
|---|---|
| Civil Practice | 75 |
| Arbitration | 60 |
| Fraud and Deceit | 50 |
| Case Management | 40 |
| Contract Law | 30 |
| Business Litigation | 25 |
16. Subjects
- Arbitration
- Civil Procedure
- Fraud