Incomlend Sues Radiant World Corp for $34 Million

Incomlend Pte. Ltd. filed a lawsuit in the High Court of Singapore against iron ore trader Radiant World Corp. and its founder, Pinkesh Nahar, seeking more than $34 million. The filing, dated August 24, alleges a tort of deceit conspiracy by unlawful means, claiming the defendants made misrepresentations that resulted in significant financial losses.

Amit Sharma, the managing director of Tanas Capital, is also named as a defendant in the suit. This legal action occurs alongside an injunction sought by Mizuho Trust & Banking and active investigations conducted by the Singapore police and the United States Department of Justice.

Radiant World has denied any wrongdoing and maintains that its operations adhere to the highest commercial and legal standards. The court has scheduled a further hearing for September 29.