ADCB secures freezing order on BR Shetty's assets | The National
Abu Dhabi Commercial Bank secured an asset freezing order against NMC Health founder BR Shetty and five UAE-based companies owned by him in the Abu Dhabi Global Market Courts.
The court ruling prohibits Mr Shetty from dealing in shares of five of his companies, grants a domestic freezing order on his assets and a worldwide freezing order on assets held by him and the five entities.
In granting the order, the judge Justice Andrew Smith ruled that Mr Shetty has control over the companies and "there is a substantial risk that he will 'dissipate' his own assets".
A spokesman for ADCB declined to comment on the ruling as legal action is ongoing. Mr Shetty did not respond to requests to comment.
No comments:
Post a Comment