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Assets of B.R. Shetty frozen by court

Assets of Indian businessman BR Shetty has been frozen by a court. The assets of BR Shetty were frozen by a UK court. The court announced this verdict in a petition given by Abu Dhabi Commercial Bank. The court has also frozen the assets of principal owners and other company executives of NMC Health founded by Shetty.

Other people whose assets have been frozen are former CEO Prasanth Manghat, Emirati investors Khalifa al-Muhairi and Saeed al-Qebaisi, and two other executives from the company.

Abu Dhabi Commercial Bank filed a criminal complaint against Shetty in last year. The bank registered complaint against them over allegations of serious fraud. Earlier DIFC Courts in Dubai has also issued an order to freeze the assets of Shetty.

NMC health founded by Shetty was the largest private healthcare provider in UAE. It collapsed after allegations of accounting frauds.

 

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