Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 31

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4
Chunk 31
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 Board determined that the Resolutions were prima facie

The
Company also filed a claim against Mr. Capes and one other defendant as a separate case in July 2023 in connection with unlawfully
obstructed access to KRHSG’s client and clinic management systems, disrupting their business and resulting in losses to KRHSG
in May 2023. On December 30, 2024, the Company sold 100% equity interest of KRHSG to a third party and therefore KRHSG is no longer
an affiliate of the Company as of December 31, 2024.

On May 10, 2024, EUDA was served a statutory demand (the “ Statutory Demand”) pursuant to Section 155(1)
of the British Virgin Islands Insolvency Act 2003 (the “ Insolvency Act”) by Carey Olsen Singapore LLP ( “ Carey Olsen”)
for payment of an alleged total indebtedness of US$138,202.66 in connection with the purported legal services rendered between February
and August 2023 pursuant to an alleged engagement letter dated February 22, 2023 signed by certain former directors of the Company purportedly
acting on behalf of the Company. The Company is of the position that it is not liable to pay the amount demanded by Carey Olsen in the
Statutory Demand. On May 24, 2024, the Company filed an originating application seeking an order to set aside the Statutory Demand, and
for Carey Olsen to pay the Company’s costs of the application. The originating application was heard on January 30, 2025, following
which it was adjourned to allow Carey Olsen to produce its work product. The originating application has since been listed for a half-day
hearing on May 1, 2025.

As
of December 31, 2024 and 2023, except as disclosed above, the Company is not currently a party to any material legal proceedings, investigation
or claims. However, the Company may, from time to time, be involved in legal matters arising in the ordinary course of its business.
While the Company is not presently subject to any material legal proceedings, there can be no assurance that such matters will not arise
in the future or that any such matters in which the Company is involved, or which may arise in the ordinary course of the Company’s
business, will not at some point proceed to litigation or that such litigation will not have a material adverse effect on the business,
financial