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BR Shetty’s firm Neopharma may be offered debt recast
₹2,000 crore loans owed by embattled billionaire B.R. Shetty’s Abu Dhabi-based Neopharma Llc., including conversion of some of its debt into equity, a person aware of the matter said.According to Bloomberg, lenders to Neopharma comprise Abu Dhabi Commercial Bank PJSC, Abu Dhabi Islamic Bank PJSC, Dubai Islamic Bank PJSC, Emirates Islamic Bank PJSC, Bahrain’s First Energy Bank BSC and Mumbai-based Bank of Baroda (BoB).Charges against Shetty, who founded healthcare provider NMC Health in the United Arab Emirates (UAE) include under-reporting of debt and not using loans for the purpose they were raised.