Quick Info
| Profession | Businessman |
|---|---|
| Nationality | Indian |
| Date of Birth | 01/08/1942 |
| Age | 84 years |
| Birthplace | Udupi, Madras Presidency, British India (now Karnataka, India) |
| Zodiac Sign | Leo |
Latest News about B. R. Shetty
B. R. Shetty, founder of the NMC Healthcare group, filed a lawsuit in the Bombay High Court seeking $15 billion in damages from Bank of Baroda and 25 other defendants. He alleges that the bank and former NMC executives enabled the diversion of funds, concealed liabilities and later pursued him under guarantees bearing forged signatures. The bank had earlier reached a $600 million settlement in July 2026, which Shetty's filing does not appear to have affected.
A $5.4 billion fraud trial against Shetty and NMC's former chief executive began in the Abu Dhabi Global Market Courts, with India's Bank of Baroda also named. Shetty travelled to the UAE to contest the case, which was brought by NMC's administrator.
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Bio/Wiki
| Full Name | Bavaguthu Raghuram Shetty |
|---|---|
| Summary | Indian-born businessman who founded NMC Health in Abu Dhabi and several other UAE-based companies, including Finablr. He was once one of the UAE's most prominent businessmen. NMC Health collapsed in 2020 after hidden debts came to light, and he has since faced multiple civil and criminal proceedings in the UAE, India and the UK, which he disputes. |
Personal Life
| Residence | Has been based in India in recent years; travelled to the UAE in 2026 to contest a fraud trial |
|---|
Family
| Spouse | Dr. Chandrakumari Shetty, a physician who was NMC's first employee and later its group medical director |
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Career
| Founded | New Medical Centre (NMC Health), 1975, Abu Dhabi |
|---|---|
| NMC Health Listing | Listed on the London Stock Exchange in 2012; valued at about £8.6 billion at its 2018 peak |
| Other Ventures |
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| Chief Executive Role | Stepped down as chief executive of NMC in March 2017 |
| Legal Matters | Subject of a $5.4 billion fraud claim by NMC's administrator, a DIFC ruling ordering a personal guarantee payment to State Bank of India, and orders to pay debts to Bank of Baroda and ICICI Bank; he denies wrongdoing |
| Recent Action | In October 2026 filed a suit in the Bombay High Court seeking $15 billion in damages from Bank of Baroda and other defendants |
Some Lesser Known Facts
| 1. Received the Pravasi Bharatiya Samman in 2007 | |
| 2. Received the Padma Shri in 2009 | |
| 3. NMC's first employee was his wife, who was the only doctor at the clinic in its early years |
