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Barclays Wins $131 Million Legal Spat With NMC Founder

Jan. 10, 2022, 2:37 PM

Barclays Plc won a legal fight to enforce an award of around $131 million against the founder of troubled NMC Health Plc.

The lender turned to a London court 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.

Bavaguthu Raghuram Shetty
Photographer: Subhankar Chakraborty/Hindustan Times/Getty Images

Shetty’s lawyers said at a December hearing in the U.K. that he is “financially paralyzed” and asked for the suit to be adjourned so he could get proper legal representation. A London judge rejected that application on Monday.

Shetty, 79, is facing ...