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B.R. Shetty seeks $15 billion from Bank of Baroda over NMC fraud

Original: b. r. shetty

B.R. Shetty, the Indian-born founder of NMC Health and Finablr, is suing Bank of Baroda and several officials, seeking $15 billion in damages over their alleged role in the collapse of NMC Health. The company, once one of the UAE's largest healthcare providers, collapsed in 2020 after revelations of billions in hidden debt and suspected fraud.

Why now: News of the enormous $15 billion damages claim against Bank of Baroda has just broken, drawing attention to the long-running NMC Health scandal.

B.R. ShettyBank of BarodaNMC HealthFinablr

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Evidence

• NMC founder B.R. Shetty and former CEO Prasanth Manghat held liable for fraudulent trading · Emirates 24|7
• NMC Healthcare founder BR Shetty files $15 billion lawsuit against Bank of Baroda · The Economic Times
• B.R. Shetty seeks $15 bn from Bank of Baroda, several officials and others over alleged role in NMC fraud · Livemint

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