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Article: Group of Indian investors plans legal action against National Bank of Fujairah

Article from:
Al Bawaba
Article date:
August 1, 2009
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A group of Indian investors in the UAE have said that they are prepared to go to court to settle a prolonged dispute with National Bank of Fujairah (NBF) on allegations of mis-selling structured products linked to failed US investment bank Lehman Brothers. Investors have established a Follow-up Committee based in Mumbai to collect all necessary documents in order to take joint steps and promote its cause in India and the world with regard to the blackmailing actions which NBF has taken against them since the bank mis-lead them to buy highly-risk financial products on behalf of Lehman Brothers, where they were promoted as "safe and capital guaranteed products".

The Committee noted that a ...

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