India's Bank of Baroda has reached an out‑of‑court settlement with NMC Health's administrators, paying $600 million (about AED 2.2 billion). The deal ends two lawsuits – one in ADGM and another in the UK – and could calm investors watching the fallout from the Abu Dhabi health‑group collapse.
Our retelling · details in the original publication
Bank of Baroda disclosed that its Abu Dhabi branch has paid $600 million (≈AED 2.2 billion) to settle the litigation with the joint administrators of NMC Health. The settlement was reported in regulatory filings to India’s BSE and NSE on July 2 2026.
The payment concludes two parallel proceedings: one before the Abu Dhabi Global Market (ADGM) Court of First Instance and another before the High Court of Justice of England and Wales. Both suits were filed against former CEO Dr BR Shetty and related entities after NMC Health’s 2022‑2023 collapse into insolvency.
For creditors and investors, the settlement means a large chunk of NMC‑related debt is now cleared. It also signals that international banks are willing to resolve disputes through ADGM’s legal framework, bolstering confidence in the UAE’s judicial environment.
Expats and prospective investors should monitor the next steps of NMC Health’s restructuring and any ripple effects on Abu Dhabi’s real‑estate and service sectors, where the group owned substantial assets.
For full details see the original article (https://www.khaleejtimes.com/business/bank-of-baroda-settles-nmc-health-litigation-for-600-million).
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