Founder of NMC Health B R Shetty was stopped from departing to the United Arab Emirates (UAE) by immigration officials at Bengaluru airport. However, his wife was allowed to fly to Abu Dhabi. Shetty had said in a statement that he planned to return to the UAE and denied reports he had fled the country after the hospital group's implosion under a mountain of previously undisclosed debt. NMC went into administration in April following months of turmoil over its finances and the discovery that it had $6.6 billion in debt.
Shetty had said in a statement on Saturday he planned to return to the UAE and denied reports he had fled the country after the hospital group's implosion under a mountain of previously undisclosed debt.
According to the source, "He was told that we have some kind of intimation that you cannot travel at this point in time," adding Shetty was not detained.
NMC went into administration in April following months of turmoil over its finances and the discovery that it had $6.6 billion in debt, well above earlier estimates.
Shetty is also facing a legal challenge in India, where Bank of Baroda is suing him for backing away from an agreement it says was decided at a March meeting to give the bank 16 properties as collateral for debts and to secure additional guarantees. Shetty has said the agreement was a "fraudulent document".
