CompaniesUnited Arab Emirates

Abu Dhabi court finds NMC founder BR Shetty and ex-CEO liable in $5.4 billion case

An Abu Dhabi court ruled NMC Healthcare founder Dr BR Shetty and a former chief executive liable in a case involving $5.39 billion. They could have to repay nearly Dh20 billion.

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A court in Abu Dhabi has found Dr BR Shetty, the founder of NMC Healthcare, liable in a fraud case involving $5.39 billion. A former chief executive of the company was also found liable.

The two men could have to repay nearly 20 billion dirhams (Dh20 billion) after the ruling. The case concerns NMC Health, the healthcare group Shetty founded.

The material does not give further details of the ruling, such as how the sum would be paid or whether an appeal is planned.

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