Barclays wins $131 million lawsuit against BR Shetty


Team Udayavani, Jan 11, 2022, 5:57 PM IST

 

Indian-born businessman BR Shetty, the Founder of Dubai-based NMC Health failed to get solace from a London court in connection with the lawsuit filed by Barclays Plc.

Shetty approached a London court after a Dubai court had ordered him to pay $131 million to Barclays for failing to meet transaction agreement with the British bank in 2020. During the hearing, Shetty’s counsel contended that he is “financially paralyzed” and sought adjournment of the lawsuit against him so he could get proper legal representation. The judge dismissed that application on Monday.

Earlier last year, UAE had ordered to freeze all of Shetty’s bank accounts. The 79-year-old is currently stranded in India.

As part of this case, Barclays had obtained a worldwide freezing order against Shetty, including against a London property.

Shetty’s counsel informed that they would appeal against the court judgment. It must be noted that the Barclays lawsuit against Shetty isn’t related to NMC Health.

 

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

No adjustment politics in Lok Sabha elections: Karnataka Deputy Chief Minister D K Shivakumar

Cricketers, filmstars, celebrities arrive for Ambani wedding

Mangaluru: Police crack theft cases — Six arrested; cash, goods worth lakhs recovered

Govt to observe June 25 as ‘Samvidhaan Hatya Diwas’ to commemorate Emergency

Difficult to get funds for development works because of guarantees, says CM’s economic advisor

Ex-Andhra Pradesh CM Jagan Mohan Reddy, two IPS officers booked in ‘attempt to murder’ case

Karnataka BJP leaders on way to protest against MUDA ‘scam’ detained in Bengaluru

Related Articles More

Bengaluru Tech Summit to be held in November

IAMAI flags ‘concerns’ over Karnataka’s draft bill on platform-based gig workers

‘Cutting Emissions’: UP govt announces tax sops for Hybrid Vehicles

Karnataka nets Rs 6,450 crore investment commitment from Japan and South Korea: Minister M B Patil

Markets sink below record levels; Sensex tanks over 400 pts on widespread profit booking

MUST WATCH

Anant Ambani Wedding

BJP & Congress members clash

Aparna Vastarey

Kalaripayattu Meenakshi Amma

President Droupadi Murmu


Latest Additions

Rishab Shetty’s ‘Kantara’ wins big at Filmfare Awards South 2023

Delhi: Photo exhibition pays homage to Kargil bravehearts at Rajiv Chowk metro station

No adjustment politics in Lok Sabha elections: Karnataka Deputy Chief Minister D K Shivakumar

Ambani wedding: Police make special traffic arrangements, ‘No Entry’ on some routes

Video showing Puja Khedkar’s mother threatening group of men with gun goes viral; cops to probe

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.