Nmc Health Bank Of Baroda
In a memo ey called on nmc to strengthen.
Nmc health bank of baroda. The bank of baroda has filed a case against nmc founder br shetty and his companies as india s third largest public sector bank seeks to recover 253 million in loans according to documents seen by arabian business and dated may 16. Nmc the largest private healthcare provider in the united arab emirates was placed under administration in april after months of turmoil. Bank of baroda had to scramble to clarify the ownership of the accounts in the days before ey signed off on nmc s financial statements it was reported. A review by nmc s auditors at ey found that bank of baroda one of india s largest banks had confused accounts belonging to the ftse 100 company with those held by its founder br shetty according.
It disclosed in march it had debts of 6 6 billion well. India s bank of baroda has sued uae headquartered nmc health group s owner bavaguthu raghuram shetty for allegedly breaching an agreement to provide 16 assets as collateral for debts a news report has revealed. Bank of baroda is seeking to recover loans worth more than 250 million from nmc health founder b r shetty and his companies and an indian court has barred him and his wife from selling or. Shetty an abu dhabi based indian entrepreneur was feted as the gulf s ultimate immigrant success story and nmc health the united arab emirates largest private hospital group borrowed without.
Shetty an abu dhabi based indian entrepreneur was feted as the gulf s ultimate immigrant success story and nmc health the united arab emirates largest private hospital group borrowed without having to provide collateral from dozens of banks either headquartered or with bases in the region.
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