MUMBAI: Bank of Baroda is seeking to recover loans worth more than $250 million from NMC Health founder B R Shetty and his companies and an Indian court has barred him and his wife from selling or transferring some properties while it hears the case, a court document showed.
The 16 properties in several Indian cities including Bengaluru were among guarantees put up by Shetty and his wife against the 19.13 billion rupees ($253m) loans, according to a May 16 court order. The court in Bengalaru set the next hearing in the case for June 8.