Kartik Mittal comments on the ongoing UK Supreme Court case to decide the fate of of Venezuelan gold worth €1.6bn in The Times of India

August 06 2021

Read the full article published in The Times of India here

An ongoing high-profile case in the UK Supreme Court to decide the fate of Venezuelan gold, worth €1.6 billion, depoisted with the Bank of England has an Indian connection. 

Kartik Mittal is representing the Venezuelan government and the Banco Central de Venezuela (BCV) in the litigation against the Bank of England (BoE). 

"The question before the UK courts is which of the two rival boards has the authority over $2 billion worth of Venezuelan gold reserves held at the Bank of England," Mittal explained. 

"The two cases which are closest to my heart are those in which my firm acted for Indian state entities, Tamil Nadu Electricity Board and PEC Limited. In those, we were able to save Indian tax payers millions of pounds and it felt extremely nice to be able to serve your country even whilst one is abroad," he said. 

"The judicial ssytem in England is much more organised and streamlined compared to India and therefore, the biggest challenge lies in adapting to the English way of doing things," he said.

"While there are a few Indian lawyers now practicing in London firms and it is encouraging to see the numbers increasing over the years, the number of Indians working in the legal sector cannot be compared with the huge numbers in other sectors such as infotech and finance," Mittal rued. 

"Although there has been a drive in the UK to make the legal profession more diverse, to move away from what traditionally was considered to be a 'white English male profession,' there is still some way to go before it can be regarded as truly diverse."

"There are, however, firms such as ours which have always provided young Indian lawyers the opportunity to work and practice in the UK."

He had joined Zaiwalla & Co as an intern in 2009 and was promoted to a partner in 2019. 

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