B R Shetty owes Rs 1,913 crore to Bank of Baroda

Team Udayavani, May 20, 2020, 11:06 AM IST

Bengaluru: Troubled millionaire medical industry magnate B R Shetty owes more than Rs 1,913 crore in loans taken from the Bank of Baroda states a city court’s document.

The court order has also prohibited Shetty and his wife from selling their properties located in many Indian cities including Bengaluru. These properties were put up as guarantees to procure the loans from the bank.

Shetty, the founder of the New Medical Centre in Dubai, has seen his properties and banks accounts in the UAE put under administrative control by the country’s government after it was revealed that his debts run more than $6.5 billion dollars rather than the earlier reported $2.1 billion.

The court will have its next hearing in the on June 8, the order read.