13-Oct-2026 19:46:39
BANK OF BARODA: B.R. SHETTY FILES ₹1.44 LAKH CR DAMAGES LAWSUIT IN BOMBAY HIGH COURT
• NMC Healthcare and UAE Exchange founder B.R. Shetty has filed a lawsuit against Bank of Baroda and 25 other defendants. • Lawsuit seeks total damages of approximately $15 billion (₹1.44 lakh crore) over alleged fraud, forged guarantees and reputational losses. • Shetty seeks $5 billion each in direct and consequential damages from the defendants jointly and severally, along with 18% annual interest. • An additional $5 billion is claimed specifically against Bank of Baroda for alleged damage to reputation and goodwill. • Shetty alleges that the bank facilitated transactions used to divert funds, ignored money-laundering alerts and concealed lending exposures from auditors. • Lawsuit also alleges that the bank relied on guarantees bearing forged signatures. • The case also names bank officers, former NMC Healthcare and UAE Exchange executives, and other entities.
BANK OF BARODA