Ankul Daga, has lost the divorce court money battle against Aparna Bangur, the daughter of one of India's richest men.
City investment strategist Daga, allegedly wanted a judge to order Aparna, to hand him a £1 million lump following the breakdown of their decade-long marriage.
Mr Daga, initially wanted £2.5 million, despite earning £130,000 a year. He argued that Ms Bangur, daughter of billionaire businessman Krishna Kumar Bangur, had assets of more than £2 million and would benefit from trusts containing more than £17 million.
But Justice Holman has dismissed his claim after analysing evidence at a trial in the Family Division of the High Court in London and said he did not 'need' the money from his ex-wife. He also concluded that Ms Bangur, who works in public relations and earns about £40,000 a year, did not have access to assets of more than £2 million or access to millions held in trusts.
Justice Holman said Mr Daga had allegedly 'wiped out' £150,000 in savings and run up debts of more than £70,000 to pay for lawyers. He said the case should serve as a 'cautionary tale'.
Jane Keir, Family & Divorce partner at Kingsley Napley LLP, who represented Ms Bangur for this case said, “This case should be a salutary warning to all gold-digger spouses with mercenary intentions. It confirms the principle that non-matrimonial assets remain protected including those held in trust structures. A pre-nup would, of course, be a further way for wealthy families to guard against such claims."
Krishna Kumar Bangur's $507 million company was founded in 1962 and supplies steelmakers in India and overseas.
