Rakesh Tulshyan is suing Otto Marine subsidiary Supply Fleet for $17.6m.
He claims this amount is still owed on a $26m loan he extended to the company in April 2015 but foreclosed on earlier this year because of alleged late and missed payments.
Court documents seen by TradeWinds indicate that Tulshyan also lodged a claim against Otto Marine executive chairman Yaw Chee Siew, who acted as guarantor for the loan.
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