NMC, the largest private healthcare provider in the United Arab Emirates, was placed under administration in April after months of turmoil Bank of Baroda is seeking to recover loans worth more than $250 million from NMC founder BR Shetty and his companies and an Indian court has barred him and his wife from selling or transferring some properties while it hears the case, a court document showed.
The 16 properties in several Indian cities including Bengaluru were among guarantees put up by Shetty and his wife against the $253 million loans, according to a 16 May court order seen by Reuters.
The court in Bengalaru set the next hearing in the case for 8 June. NMC, the largest private healthcare provider in the United Arab Emirates, was placed