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.
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 a number of freezing orders, including in India where he is currently stranded, his lawyers said. As part of this case, Barclays obtained a worldwide freezing order against Shetty, including against a London property.
A lawyer for Shetty said he will be appealing the judgment. Barclays didn't immediately respond to a request for comment.
It's not the only legal battle the Indian entrepreneur is facing. He filed a suit in New York last year against Ernst & Young over its auditing work for his NMC Health, in which he's seeking $7 billion. NMC health was put into administration in 2020 amid allegations of fraud at the health-care provider.
The Barclays legal action against Shetty isn't related to NMC Health.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
X User's Post Celebrating His Younger Sister's Internship Milestone Warms Hearts Online Apple Sheds $100 Billion in Market Cap as Barclays Predicts 'Lacklustre' iPhone 16: Report Barclay Family Regains Control Of UK's Telegraph Group After Debt Repaid Windows Computers Lead To 'Blue Screen Of Death' Due To CrowdStrike Error Massive Worldwide Microsoft Outage: Flights, Markets, Stock Exchange Down Microsoft 'Blue Screen Of Death' Outage: Full List Of Services Hit In India Study Abroad: Top 10 Management Universities In United Kingdom "Reason Identified, Updates Released": India On Massive Microsoft Outage UPSC Cracks Down, Says Puja Khedkar Faked Identity, Parents' Name, Address Track Latest News Live on NDTV.com and get news updates from India and around the world.