The Jane Seymour diamond ring . Mr Karan Chandur Tilani with British-US actress Jane Seymour at the Art For Charity'gala evening in Singapore on April 29, 2016.
Court papers noted those false claims were the basis for Dutch investor Maarten Hein Bernard Koedijk’s decision to enter into a number of deals with Mr Tilani. Mr Tilani claimed that Mr Koedijk owed him an outstanding $339,659, which he refused to pay. This prompted the Singaporean to begin arbitration proceedings.
Mr Tilani had come up with a plan for Mr Koedijk to temporarily hold the company’s shares while he arranged for the gem to be sold to the friend of an uncle, citing what he said was concerned about a “conflict of interest”, the court papers said. This was dismissed by the apex court. The Court of Appeal judges noted how confidentiality had already been compromised when Mr Tilani disclosed details of the arbitration in the statutory demand proceedings, which were made in open court, without the protection of a sealing order.
Media outlets – including the South China Morning Post, Forbes, CNBC and CNA Luxury – reported that Mr Tilani had donated the ring to the 2020 event, an 18-course dinner served by a celebrity chef on a private jet cruising above Singapore, and the proceeds would support humanitarian efforts in Nigeria.