When it comes to mass litigation, costs and funding frequently lie close to the heart of a litigation strategy.
In recent years, the Indian market has been hit with a number of frauds and scams, especially in the banking sector, that have eroded the investments and deposits of thousands of people. The scams in Punjab and Maharashtra Co-operative Bank as well as Laxmi Vilas Bank are notable examples. In 2019-20 alone the total reported losses owing to bank fraud was at US$ 25 billion, excluding damages.
These incidents are potential mass claims waiting to be filed, collectively worth billions of dollars. Globally, third-party funders have assisted small claimants in situations like these by funding mass claims, and this is possible in India as well.