B.R. Shetty Moves Bombay High Court Against Bank of Baroda

NMC Healthcare founder B.R. Shetty moved the Bombay High Court through interim applications seeking protection for his $15 billion damages claim against Bank of Baroda regarding a $600 million settlement.

The underlying suit seeks $15 billion jointly and severally with 18% annual interest, comprising $5 billion each for direct fraud damages, consequential losses, and reputation loss claimed against the bank alone.

Bank of Baroda stated in an exchange filing that it had not been served with the suit or interim applications, and criticized the dissemination of untested allegations ahead of its quarterly results.