#NMC Health


EY accused of actively concealing NMC Health audit fraud from investors

BR Shetty filed a suit in New York last week, naming Ernst & Young as a co-conspirator in the fraud alongside former executives

Indian court upholds travel ban on BR Shetty, founder of UAE’s NMC Health

Shetty was reportedly stopped by immigration officials from boarding a flight to the UAE on November 14

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

NMC Health expects UAE, Oman operations to continue in 2021, after sale of non-core assets

NMC is undertaking a complete restructuring of its balance sheet following the discovery of significant fraud and debt

UAE-based NMC Health announces $525m sale of Eugin Group

The transaction is expected to be complete by H1 2021

NMC Health faces advisory fees of $140m for bankruptcy

NMC had a peak market value of $10bn on the London Stock Exchange before the uncovering of billions of dollars of undisclosed debt pushed it into administration

NMC administrators say they’re near bottom of hidden debt pit

NMC had a market value of $10bn at its peak on the London Stock Exchange before allegations of fraud pushed it into administration

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

UAE’s NMC Health secures $250m funding

NMC has developed a three-year business plan with a strategy to deliver continued growth in its core UAE business

Lenders to Shetty’s pharma firm are said to start debt talks

Creditors will also consider plans to bring in a new strategic investor to Neopharma to keep the business operating

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

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

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

How Muddy Waters is hammering Indian billionaire’s BR Shetty’s NMC

The London-listed company’s share price has fallen 24 per cent this year to 13.48 pounds