Indian entrepreneur ordered to pay US$131 million to Barclays

Barclays acquired a worldwide freezing order against Shetty as part of this litigation, including one against a London home.

Indian entrepreneur ordered to pay US$131 million to Barclays
Bavaguthu Raghuram Shetty. Source: www.brshetty.com

Barclays Plc has won a judicial battle to enforce a US$131 million award against the ailing NMC Health Plc founder. After a Dubai judge ordered Bavaguthu Raghuram Shetty to pay the money after his foreign exchange business failed to meet a transaction agreement with Barclays in 2020, the lender resorted to a London court.

Shetty, 79, who is now stranded in India, is subject to various freezing orders. Barclays acquired a worldwide freezing order against Shetty as part of this litigation, including one against a London home.