Indian Listed Company CEO Spent 500 Million Won on Ex-Girlfriend, Demanded Repayment After Breakup... Court's Ruling

Indian CEO spent heavily on girlfriend, including card payments

Sued after breakup... Entire claim dismissed in Singapore court

Judge: "An attempt to make her pay after the breakup"

The CEO of an Indian listed company, who spent nearly 500 million won on his former girlfriend, filed a lawsuit to get the money back after their breakup, but lost the case.

Photo for article reference. Pixabay

According to Indian media outlet NDTV and a decision from the Singapore High Court on September 12 (local time), Chander Agarwal, CEO of Indian logistics company TCI Express, sued his ex-girlfriend, Rishu Hui Felicia Li, demanding repayment of 468,090 Singapore dollars (approximately 497 million won).

The two first met on a flight in 2019 and continued to keep in touch via Facebook, eventually becoming a couple in September 2022. However, after Agarwal suspected Li of infidelity, they broke up in December 2023. Three months later, in March 2024, Agarwal filed the lawsuit. He alleged that during their relationship, Li repeatedly asked to borrow money without interest. In contrast, Li countered that the money was a gift stemming from affection, not a loan.

Insurance premiums, tuition, first-class tickets... "Repay what I lent you"

The claim included such items as 151,658 Singapore dollars (about 161 million won) charged to an American Express card, as well as spending on a corporate card and a Citibank card, plus life insurance premiums. The list also covered 50,000 Singapore dollars (about 53 million won) that Li owed to her former employer, Manulife Singapore; fees for hiring a feng shui expert for her home; tuition for the Stanford–National University of Singapore executive program; first-class airfare to the United States and costs for a trip to Hong Kong; and even expenses related to establishing a company.

However, the court determined that most of the funds provided were gifts, not loans. There were no messages in which Li asked to borrow money or promised to repay it, and despite a large number of exchanges between the two during their relationship, there was no record suggesting a lending agreement.

Agarwal presented as evidence a handwritten agreement initialed by Li. The document indicated that Li would receive 10,000 to 25,000 Singapore dollars (about 10.6 to 27 million won) each month as a sort of deposit, which she would return to Agarwal as needed. However, Li denied ever signing the document, and the court judged that, considering handwriting analysis and the document format, it was not possible to definitively conclude she had signed it.

It was also established that Agarwal had been giving expensive gifts to Li even before they began their relationship. He provided luxury wallets, Louis Vuitton handbags, Apple Hermès watches, and also paid for travel to Europe. The verdict also cited a message exchange in which Li asked Agarwal, "You bought me so many things. How can I repay you?" to which he responded, "You don't need to pay me back. I am not a loan shark."

Judge dismisses: "An attempt to make her pay after the breakup"

Chander Agarwal, CEO of Indian logistics company TCI Express. Official website

Agarwal argued that expenditures before they started dating were indeed gifts, but all money spent after they became a couple was a loan. However, on September 9, Senior Judge Lee Siu Kin of the Singapore High Court dismissed this claim, stating, "Just because the other party accepted the proposal does not automatically make the money a loan," and, "Such an argument is not consistent with common sense." The judge further pointed out that Agarwal, upset after the breakup, was trying to make his former partner pay as a form of retribution. The court dismissed his claims and ordered Agarwal to cover the legal costs as well.

Meanwhile, TCI Express is a courier company listed on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE), operating nearly 1,000 locations nationwide. Agarwal has been leading the company since 2008.

This content was produced with the assistance of AI translation services.