MUMBAI : State-run Bank of Baroda (BoB) plans to approach the Karnataka high court to restrain billionaire businessman B.R.
Shetty from selling his assets, even those that are not pledged to the bank, said two people aware of the development. “The borrower’s loans with BoB are all standard at the moment and the lender has moved court only as a proactive step to ensure that its right to recovery is protected in case the borrower defaults later," one of the people cited above said requesting anonymity.
As Shetty gave a personal guarantee on these loans, BoB believes that all his assets should be part of the injunction, this person said.