Home Industry Finance Finablr founder Shetty resigns as Indian court closes net on NMC Health Finablr and NMC Health were both listed on the London Stock Exchange before being suspended by Bloomberg August 17, 2020 Finablr Plc co-chairman Bavaguthu Raghuram Shetty resigned from the embattled foreign-exchange operator’s board in the wake of a corruption scandal that pushed its sister firm NMC Health into administration. The announcement of Shetty’s departure was followed by another statement on Monday that Britain’s tax authority intends to shut down Finablr’s UAE Exchange UK and Xpress Money Services. The firm plans to work with the agency to attempt to restore the registrations, Finablr said. In a separate matter, a commercial court in the Indian city of Bengaluru has temporarily restrained Shetty from selling certain assets following a petition filed by Commercial Bank of Dubai, according to an order dated August 14. Finablr and NMC Health, which were both listed on the London Stock Exchange before being suspended, uncovered billions of dollars of hidden debt. Shetty has said that he was the victim of fraud. Tags BR Shetty Finablr fraud India NMC Health UAE 0 Comments Share Tweet Share Share You might also like UAE retail e-commerce market reaches $3.9bn in 2020 UAE reports 1,988 Covid-19 cases, 6 deaths Flights between India and UAE to remain suspended until July 6 – airline Where is the UAE’s car leasing business headed?