The British Bank, Barclays, obtained a court ruling against the founder of NMC, to pay an amount of $ 131 million in favor of the bank.
According to Arab Net, this comes after the bank resorted to a court in London, after a judge in Dubai ordered the Indian businessman and founder of NMCB. R Shetty paid the money after his exchange and currency exchange company failed to honor a transaction agreement with Barclays in 2020.
The NMC Healthcare Company in the Emirates will exit the situation under management in Abu Dhabi on January 17, instead of December 21.
NMC is the largest provider of healthcare services in the Emirates, and it went through problems last year after revealing hidden debts exceeding four billion dollars, which incurred large losses for lenders in the UAE and abroad.
The company had obtained creditors' approval for the proposed exit tools process to restructure the group that would allow 34 companies from the NMC Group to exit management and continue to operate the group's core business.