Bank of Baroda to Defend Against 15 Billion Lawsuit
India's Bank of Baroda stated it will firmly defend its interests following a 15 billion dollar lawsuit filed by NMC Health founder BR Shetty in the Bombay High Court. Shetty alleges bank officials facilitated fraud contributing to the healthcare group's collapse.
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Bank of Baroda will defend its interests after founder B.R. Shetty filed a $15 billion lawsuit in India's Bombay High Court. The legal challenge follows the 2020 collapse of NMC Health, which left behind $6.6 billion in undisclosed debts. The lender said it faces no immediate liability as it pursues separate recovery proceedings in India and the United Arab Emirates.
