STANDARD CHARTERED BANK vs CITIBANK N A — C.A. No. 4268/1997

Case Summary: Standard Chartered Bank v. Citibank N.A. Outcome: The Supreme Court dismissed Standard Chartered Bank's interlocutory application seeking clarification on interest rate disparities in the restitution order dated 7.7.2004. The Court upheld its earlier decision awarding Citibank 12% interest (versus SCB's 9%) on restituted amounts, rejecting SCB's claim of unjust enrichment. Citibank's compliance application was also dismissed as the Supreme Court is not the executing court. Key Holding: The different interest rates were justified because they reflected the rates originally awarded by the Special Court in the underlying suits—Citibank received 9% interest in its favor, so it cannot be asked to pay more than what was granted to it. This case analysis is maintained by casestatus.in based on publicly available court records.