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BR Shetty on radar of Indian probe agencies
New Delhi: Probe agencies in India are tracking the banking exposure of UAE-based billionaire BR Shetty who is now facing several charges. Reports...
New Delhi: Probe agencies in India are tracking the banking exposure of UAE-based billionaire BR Shetty who is now facing several charges.
Reports suggest that Indian billionaire BR Shetty has flown to India as legal troubles are mounting in his UAE based companies, NMC Health and UAE Exchange. Shetty has not been in UAE for atleast a month and five active legal cases are being pursued there.
Indian agencies will be looking at Shetty's exposure to Indian banks given the active legal cases in UAE pertaining to fraud and forgery.
Abu Dhabi Commercial Bank, which has the largest exposure to NMC Healthcare, has filed a criminal complaint, alleging 'fraud and forgery' against six people, including founder BR Shetty, and former CEO Prasnath Manghat, linked to the embattled group.ADCB confirmed the move in a statement on Wednesday, but did not identify the accused.
