B R Shetty’s assets seized by UAE authorities

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Dubai, 27 Apr 2020: The Central Bank of the UAE has directed banks in the country to immediately freeze all accounts of the Udupi-origin health and medical industry bigwig B R Shetty, founder of NMC Healthcare here.


This comes after the London-based FTSE-100 index delisted NMC Healthcare on April 27.


NMC Healthcare debts are alleged to be totalling $6.6 billion.


The Abu Dhabi Commercial Bank (ADCB), with Dh3 billion, loaned to NMC has the highest share in NMC’s total loans.


The ADCB has filed a criminal complaint against Shetty, his family and six others related to his conglomerate on the charge of fraud and forgery.

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