B.R. Shetty’s Case Update: What we know so far | UAE news - video Dailymotion

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A court in London has put a freeze on any asset disposals by Dr. B.R. Shetty, founder of Abu Dhabi headquartered NMC Healthcare, as well as on other shareholders and former top executives, including Prasanth Manghat, who stepped down as CEO in late February last year.  Read the full story here: https://bit.ly/3qnPljL  Subscribe to Gulf News on YouTube and watch more of our videos: https://www.youtube.com/user/GulfNewsTV  See more videos at https://gulfnews.com/videos Read more Gulf News stories here: https://bit.ly/2HLJ2km  #Indian #BRShetty #Dubai

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00:00A year into the B.R. Shetty case and the latest development is that a court in London has

00:07put a freeze on any asset disposals by Dr. B.R. Shetty, founder of Abu Dhabi-headquartered

00:12NMC Healthcare.

00:14The freeze also applies to other shareholders and former top executives, including Prashant

00:20Mangat, who stepped down as CEO in late February last year.

00:24The latest court order is sweeping in its impact.

00:27No assets held anywhere in the world by these individuals can now be sold.

00:31In recent months, court orders freezing Shetty's assets has been issued in Dubai as well as

00:37in India after lenders brought charges.

00:40It was just over 12 months ago that the NMC Health financial crisis started to unspool.

00:46It eventually led to a damning detail that billions of dirhams in bank loans and credit

00:51were diverted from NMC accounts over a period of years.

00:55The extent of the exposure are still being worked on, but some estimates place it more

01:00than $4 billion.

01:02Since April, NMC has been under administration.

01:05During a media briefing last week, senior NMC management declined to go into the current

01:11status of investigations against Shetty and others.

01:14This is a developing story.

01:16For more details, log on to gulfnews.com.

B.R. Shetty’s Case Update: What we know so far | UAE news

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