The conglomerate's stocks have lost $33 billion in combined market value since the news of Gautam Adani's indictment
markets1 hour ago
A young motorist in Abu Dhabi has been instructed to pay Dh22,850 traffic fines he racked up using a car he bought from a woman but delayed to transfer the ownership of to his name.
Official court documents stated that the woman filed a complaint against the man after he refused to clear the traffic fines on the car registered to her name.
She said she had sold the car to the defendant, but he delayed the transfer of the registration to his name.
The man later committed traffic offences with fines worth Dh22,850 while driving the car, but refused to clear the fines, prompting the woman to drag him to court.
In her lawsuit, the woman requested that the man be obliged to transfer the car ownership to his names. She also asked that all the traffic violations the man committed be registered against his driving license.
In court, the young man admitted to committing the traffic fines. He said he delayed transferring ownership of the car to his names because his residence visa has expired.
After hearing from all parties, court ordered the man to transfer the car ownership to his names and to clear all the traffic fines.
He was also told to pay for the woman’s legal expenses.
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