, Shetty received the Padma Shri awarded by the President of India in 2009 for his contribution in the field of trade and industry. Shetty’s healthcare and financial services empire suddenly unraveled after his two London-listed companies, NMC Health and Finablr, were enveloped in controversies.  In August 2016, Shetty announced that he was building a 400-bed super-specialty hospital in Udupi in Karnataka through B R S Ventures. These include a project in Kerala and he is looking for opportunities across the country.  Now, Indian agencies have initiated probe to identify potential risks to Indian banks, if any. He is now a wanted person by banks in UAE and India for cheating them for reportedly billions of dollars. Sources of the island said that the UAE authorities arrested Bainai Shetty, son of the fugitive Indian investor, BR Shetty, who is hunting for claims to pay more than $ 7 billion, and his son …  He also received the 2013 Frost & Sullivan Lifetime Achievement Award. At the moment, he is acquiring "sick hospitals which are not doing well" in India. The news said that Shetty and his business empire were accused of alleged financial irregularities and frauds worth billions of dollars. , In August 2019, BRS Ventures announced plans to invest $5 billion in developing healthcare facilities across India.  That same year, Shetty received the Asian Business Leadership Forum India-UAE Business Icons Award. I discover that he is treated similarly wherever he goes in the area. Updated: … , On April 8, 2020, NMC went into Administration in UK due to insolvency of the company. UAE businessman of Indian origin B.R. The UAE-based billionaire stepped down as co-chairman of NMC Health in February after the company's shares fell over 70 per cent since December. , At the 2015 Gulf Business Industry Awards, Shetty was recognized as the Healthcare Business Leader of the Year. Rajan and the others have been convicted in the BR Shetty attempt to murder case when the latter was fired upon allegedly by the henchmen of Rajan in Amboli area of Mumbai in 2013. Embattled Indian billionaire businessman BR Shetty and his son Binay announced on Tuesday that they have have retained the services of restructuring experts Duff & Phelps. (Wikimedia Commons) How BR Shetty went from billionaire to bust 4 min read. After working as the country's first medical representative, he founded New Medical Centre Health (NMC) in 1975 to fill the need for personalized, cost-effective healthcare accessible to all.  In November 2015, he was felicitated by More Ignatius Jacobite Syrian Orthodox Cathedral in Dubai. Shetty had played a key role in organizing a visit of Modi to Abu Dhabi.  On April 8, 2020, NMC Health went into Administration in UK due to the insolvency of the company. , In September 2012, Pharma Leaders founded by Satya Brahma declared Shetty as Global Indian of the Year along with Kiran Mazumdar Shaw at 5th Annual Pharmaceutical Leadership Summit & Pharma Leaders Business Leadership Awards 2012 in Mumbai. Agencies Bavaguthu Raghuram Shetty (File Pic) In mid-2018, during a media interaction, Bavaguthu Raghuram Shetty remarked: “If I don’t have one problem a day, that’s not a good day for me. Questions remain over the role of Shetty’s family at the company.  He also received the Lakshya Business Visionary Award in 2014. His wife and son-in-law both hold roles in senior management. Shetty is facing a slew of charges in UK and UAE after two of his top-notch …  Also in 2016, Shetty won the Business Excellence Award from the Indian Business & Professional Council. Also read: Production-ready 2020 Mahindra Thar: This is IT!  Also in 2015, H. H. Prince Faisal Bin Saud Bin Musaed Bin Abdulaziz presented Shetty with the National Cultural Award.  NMC is now the largest private healthcare provider in the UAE with over four million patients annually across 45 facilities spread over 12 cities and 8 countries, including UAE, KSA, Oman, Spain, Italy, Denmark, Colombia and Brazil. "Now we are back home.  Consequent to the request from the NMC board of directors and an on-going investigation of potential financial irregularities, the company was de-listed from London Stock Exchange and was removed from FTSE 100 index. He has created many jobs for people not just from his home state, but across India. In May 2019, however, the film was shelved due to creative issues. , On April 27, 2020, the Central Bank of UAE ordered seizure of all assets of Shetty and his family in the UAE. The funds went towards building a specialty hospital in Khalifa City, Abu Dhabi. Indian-born UAE-based businessman BR Shetty was reportedly stopped from flying out of the country by immigration officials at the Kempegowda International Airport on Saturday.  Shetty completed his pharmaceutical education from Manipal in India and also served as the Vice-Chairman of the Municipal Council in Udupi. Fall from Grace: How fortunes reversed for Udupi-born billionaire BR Shetty.  Shetty's initial interest in 1975 was in hospitals and hospitality and has since diversified into pharmaceuticals, financial services, retail, advertising and information technology. Devi Prasad Shetty, MS, FRCS, (born 8 May 1953) is an Indian cardiac surgeon and entrepreneur.He is the chairman and founder of Narayana Health, a chain of 21 medical centers in India. NMC was born in 1975 when Mr Shetty spotted an untapped opportunity for private health care in Abu Dhabi, launching a small clinic that provided "good-quality treatment and good service", including diagnostic equipment that was not available elsewhere in the country. , In February 2015, the Indian Club - Bahrain recognized Shetty with a Centenary Award. Mr Shetty was working as a medical distributor in Udupi and he had built up a successful life in politics and doing social work in the community, which he was reluctant to leave behind. Shetty Launches New Financial Firms Holding Company Finablr", "How Indian billionaire Bavaguthu Raghuram Shetty went bust", "Billionaire BR Shetty resigns from Abu Dhabi's NMC Health", "BR Shetty's fortune drops by $1.5 Billion", "Former Indian Billionaire's Gulf Dream Turns Sour", "ADCB files criminal complaint against individuals over NMC Health", "NMC's BR Shetty, 5 others face fraud, forgery charges", "After cases in UAE, BR Shetty on radar of Indian probe agencies", "UAE orders seizure of Shetty's assets; FTSE ousts NMC", "Mangalorean Tuluva B R Shetty Buy's Travelex for 1 billion", "BR Shetty, the astute businessman who turned $8 into $1bn", "Dr B.R.Shetty to build Abu Dhabi's first medical university in honour of Sheikh Zayed", "Dubai Dreams: From jobless medical rep to billions - BR Shetty", "Gulf private hospitals group NMC eyes UK launch after leap into FTSE 100", "Dr B.R. The hotel manager immediately recognises Mr Shetty and rushes to greet him before I get the chance to introduce myself to the chief executive and managing director of the remittance firm, UAE Exchange, and the founding partner and chief executive of the healthcare company, NMC, based in Abu Dhabi.  Shetty acquired Travelex, a major foreign exchange company, in 2014. Shetty has three daughters and one son.  Given by H. H. Sheikh Mohammed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, the first year the distinction was awarded. Led by Richard Clarke, Duff & Phelps will support their efforts in dealing with financial liabilities related to their family group interests, "including but not restricted to indirect exposures to NMC and Finablr debts".  In June 2015, Shetty received the Business Personality of the Year award from Crowe Horwath International. , Shetty was born in Kapu, Udupi to Tulu-speaking parents Shambhu Shetty and Koosamma Shetty on 1 August 1942 to an ethnic Tuluva family. Shetty … BR Shetty’s lenders have sold shares his firm pledged. 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BR Shetty landed in Abu Dhabi with $8 in 1973 and turned his sweat into a personal fortune worth billions. In 2003, Shetty founded NMC Neopharma, a UAE based pharmaceutical manufacturer. Bavaguthu Raghuram Shetty is an Indian-born businessman who is the founder and acquirer of a number of companies based in the United Arab Emirates, including Abu Dhabi-based NMC Health, Neopharma, BRS Ventures, and Finablr.  Consequently, Forbes has dropped Shetty from its 2020 annual list of billionaires. He had a towering personality with a bald head, often cast as the villain brought down by heroes half his size. At the age of just 26, he had been appointed municipal vice chairman in Udupi. This then grew over the years to a chain of hospitals and pharmacies that serve millions of patients every year, and the firm was listed on the London Stock Exchange (LSE) two years ago. "I didn't sleep two hours continuously.".  Shetty's NMC Healthcare was recognized at the 6th Middle East Business Leaders Awards in 2015, where Shetty was given the Industry Excellence in Healthcare Award.  In March 2013, he was awarded the International Achievers Summit's Lifetime Achievement Award. BR Shetty, the founder of payments group Finablr, has stepped down as its co-chairman and director with immediate effect, the London-based firm said on Monday. Government of Karnataka Koosamma Shambhu Shetty Memorial Haji Abdullah MOTHER & CHILD HOSPITAL is a tie-up between the Government of Karnataka and the group of hospitals owned by the father-son duo of Padmashree Dr. BR Shetty and Mr. Binay Shetty. , Learn how and when to remove this template message, "Indian Rich List in full - ArabianBusiness.com", "I Want To Be The No. March 20, 2020: Mangalorean billionaire BR Shetty has flown to India as legal problems continue to mount in his UAE-based companies NMC Health and UAE Exchange, … "That's how you keep yourself young - if there's no time to get old," he says. With the funds, he wants to build a retirement home, a community hall, and a hospital which provides free health care in memory of his sister who died of cancer. "He'll do good for the country, good for the economy," he says.  On 27 April 2020, the Central Bank of UAE ordered the freezing of his accounts and the blacklisting of his firms. Diksha shetty, India, India: "I used to give money like this without knowing my budget," he says. The UAE-based billionaire BR Shetty and two other directors resigned from the board of Travelex, which is owned by embattled payments and foreign exchange company Finablr. , B.R. In politics you didn't get money, whereas now the present governments, all over India, everywhere in the world, they are corrupt, they all take bribes. Mr Shetty explains he knows Mr Modi well now and is keen for him to come to power. Mr Shetty left behind the lush, palm-fringed town of Udupi for Abu Dhabi in 1973 with just a few dollars in his pocket, looking to earn enough to repay a large debt after borrowing money to pay the dowry for one sister's wedding. , In 2016, Shetty received the Golden Peacock Lifetime Achievement Award for Business Leadership. We were young blood - we never knew what is corruption.". , In 2013, Shetty was recognized as one of Asia's most promising leaders at the Asian Brand & Leadership Summit. By Shantonil Nag . Mrs Shetty remains NMC’s group medical director, supervising more than 2,000 doctors and 10,000 clinical staff. His schedule is jam-packed: two weddings, an engagement party and picking up an award from the local Rotary Club in the presence of the mayor of Mangalore are among the things he has to do during his 36-hour trip, having arrived on an early morning flight from Dubai.  At that time, his wife was the only doctor in the clinic. Abu Dhabi, Dec 18: UAE-based Indian billionaire BR Shetty’s company Finablr Plc is getting ready to selling its business to an Israeli-UAE consortium for $1, capping the collapse of a business that had a market value of 1.5 billion pounds ($2 billion) last December. Supervising more than 2,000 doctors and 10,000 clinical staff, Abu Dhabi only too happy to be focused. 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