#BR Shetty

UK court orders asset freeze of NMC founder BR Shetty, other company executives

The order was secured by NMC’s biggest creditor, Abu Dhabi Commercial Bank

Dr B.R. Shetty, Founder and Co-Chairman of Finablr, at the London Stock Exchange[2] copy

BR Shetty plans ‘imminent’ return to the UAE to support investigation into NMC

The NMC Health founder denies wrongdoing and says he has “complete faith in the justice system of the UAE”

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

NMC administrators start selling its assets to pay the UAE hospital operator’s creditors

The moves mark the official beginning of the dismantling of NMC, which once had a market value of up to $11bn

Finablr uncovers $1bn in hidden debt as UAE’s NMC Health scandal widens

The London-listed company, Finablr, had a market value of GBP77m when it was halted from trading in March, down from a peak of GBP1.5bn in December

NMC controversy: Founder BR Shetty issues first public statement, denies wrongdoing

Shetty claimed he was also a victim of fraud and put the blame on a “small group of current and former executives”

Abu Dhabi’s NMC Health to delist from London Stock Exchange; UAE to seize founder BR Shetty’s assets

NMC Health said last month that they had uncovered $2.7bn of debt hidden from its board, doubling its borrowings to around $5bn

Former chairman of UAE’s NMC urges administrator to act swiftly, supports investigation

Faisal Belhoul said it remains crucial that the investigation into any and all prior wrongdoings at the company is “fully supported”

NMC creditors are forming a committee for $6.6bn debt talks

The company was placed in administration last week

NMC Healthcare

NMC heads to administration after bowing to creditor demands

With a market value of $2.4bn and total debt of $6.6bn, NMC faces an investigation by the UK’s Financial Conduct Authority