Former UAE billionaire B.R. Shetty has filed a **$15 billion** lawsuit against Bank of Baroda in the Bombay High Court, alleging fraud, forged signatures, and ignored alerts related to the collapse of NMC Healthcare. The bank stated it has not yet been served the suit and is pursuing its own **₹2,800 crore** recovery from Shetty.
$15 billion
Lawsuit Value
Bank of Baroda (BoB), a major state-owned lender, is facing a massive **$15 billion** (approximately **₹1.44 lakh crore**) lawsuit filed by B.R. Shetty, the founder of the now-collapsed NMC Healthcare. The commercial suit, filed in the Bombay High Court on October 13, 2026, alleges that BoB officials facilitated fraud, helped conceal debt, diverted funds, and accepted forged loan guarantees related to NMC's financial mismanagement. In response, Bank of Baroda issued a statement on October 14, 2026, clarifying that it has not yet been formally served with the lawsuit and plans to "firmly defend" its interests once it receives the court papers. BoB also highlighted that it is pursuing its own recovery proceedings against Shetty for outstanding dues of nearly **₹2,800 crore**.
💭 If you're wondering…
Round-tripping is a fraudulent practice where money is sent out of a country through one channel and then brought back through another, often disguised as foreign investment, to legitimize illegally obtained funds or evade taxes.
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