Bank of Baroda shares fall after NMC Healthcare founder files $15 billion suit

Bank of Baroda shares declined 3.47% on the BSE after reports that B R Shetty filed a $15-billion damages suit against the bank and 25 others.

Mr Shetty alleged before the Bombay High Court that the defendants acted as instruments in siphoning funds that caused the collapse of his business empire.

The bank stated it has not been formally served with the suit and will defend itself firmly while pursuing the recovery of about ₹2,800 crore from him.