TODAY -
NMC founder BR Shetty owes over $250m to Bank of Baroda: Court document
Write Comment
E-Mail To a Friend
Facebook
Twitter 
Print NMC founder BR Shetty owes over $250m to Bank of Baroda: Court document
Sixteen properties in several Indian cities including Bengaluru were among guarantees put up by Shetty and his wife.
Bank of Baroda is seeking to recover loans worth more than $250 million from NMC founder BR Shetty and his companies and an Indian court has barred him and his wife from selling or transferring some properties while it hears the case, a court document showed.
The 16 properties in several Indian cities including Bengaluru were among guarantees put up by Shetty and his wife against the Rs19.13 billion ($253 million) loans, according to a May 16 court order seen by Reuters. The court in Bengalaru set the next hearing in the case for June 8.
NMC, the largest private healthcare provider in the UAE, was placed under administration in April after months of turmoil. It disclosed in March it had debts of $6.6 billion, well above earlier estimates of $2.1 billion.
Finablr, in which Shetty has a controlling stake, said in April it may have nearly $1 billion more in debt than previously reported.
Shetty and Bank of Baroda did not immediately respond to a Reuters request for comment.
In the court filing seen by Reuters, Bank of Baroda said Shetty had an obligation to handover the title deeds of the 16 properties and mortgage the assets with the bank.
Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on kemmannu.com to provide the IP address and other details of senders of such comments, to the authority concerned upon request. Hence, sending offensive comments using kemmannu.com will be purely at your own risk, and in no way will Kemmannu.com be held responsible.
Similarly, Kemmannu.com reserves the right to edit / block / delete the messages without notice any content received from readers.
RELATED
Mumbai, June.29: With the belief that words have the power to ignite change,Ryan International Academy,Hinjawadi,Pune hosted the 2nd Annual Literary Conclave 2025 on 28th June 2025, a celebration of imagination, intellect and literary talent. The event brought together students, educators and specia
Final Journey of Mrs. Severine Pais (85 years) | LIVE from Milagres, Kallianpur, Udupi
Final Journey of Mrs Lennie Saldanha (89 years) | LIVE from Kemmannu | Udupi
Final Journey of Zita Lewis (77 years) | LIVE from Kallianpur, Udupi
Final Journey of Henry Andrade (83 years) | LIVE from Kemmannu
Final Journey of Mr. Leo Britto (65 years) | LIVE from Mother of Sorrows Church, Udupi
Mount Rosary Church - Rozaricho Gaanch May 2025 Issue
Final Journey of Juliana Machado (93 years) | LIVE from Udyavara | Udupi
Final Journey of Charles Pereira (78 years) | LIVE from Kemmannu
Milarchi Laram, Milagres Cathedral, Kallianpur, Diocese of Udupi, Bulletin - April 2025
Holy Saturday | St. Theresa Church, Kemmannu
Final Journey of Albert Lewis (85years) | LIVE From St Theresa’s Church Kemmannu | Udupi
Final Journey of Bernard G D’Souza | LIVE from Moodubelle
Earth Angels Kemmannu Unite: Supporting Asha Fernandes on Women’s Day
Final Journey of Joseph Peter Fernandes (64 years) | LIVE From Milagres, Kallianpur, Udupi
Milagres Cathedral, Kallianpur, Udupi - Parish Bulletin - January 2025 Issue
Rozaricho Gaanch 2024 December Issue - Mount Rosary Church, Santhekatte
Land/Houses for Sale in Kaup, Manipal, Kallianpur, Santhekatte, Uppor, Nejar, Kemmannu, Malpe, Ambalpady.
Naturya - Taste of Namma Udupi - Order NOW
Focus Studio, Near Hotel Kidiyoor, Udupi
Earth Angels - Kemmannu Since 2023
Click here for Kemmannu Knn Facebook Link
Sponsored Albums
Exclusive
Mangalorean Teen Feryl Rodrigues Shines as May Queen 1st Runner-Up at Indian Club Bahrain [Video]
A Saintly Shepherd of Our Times: A Tribute to Pope Francis
Servant of God – Fr Alfred Roche, Barkur -Closing ceremony of Birth Centenary Celebrations.
"Raav Sadanch" – A Konkani Musical Masterpiece by Young Prodigy Renish Tyson Pinto, Barkur Inspires Youth to Chase Their Passions.
Bishop Rt. Rev. Dr. Gerald Isaac Lobo, Offers the Solemn Thanksgiving Jubilee Mass, in Milagres Cathedral
GOLDEN YEARS, HAPPIER TOGETHER….by P. Archibald Furtado
Parish Level inaugural Badminton Little Flower Cup 2024 held in Kemmannu.
Udupi: Foundation stone laid for the SVP sponsored new house at Kemmannu
KAMBALA – A FORGOTTEN SPORT OF YESTER YEARS…..
