Indian court upholds travel bar on founder of debt-laden hospital operator NMC | Reuters
An Indian court on Wednesday refused to let B R Shetty, the founder of troubled hospital operator NMC Health, travel to the United Arab Emirates (UAE), as it upheld a previous ruling.
Shetty's NMC, the UAE's biggest hospital group listed in London, went into administration in April 2020 after months of turmoil over its finances and its disclosure of $6.6 billion in debt, well above earlier estimates.
"The findings recorded...are based on sound appreciation of facts and law," the two-judge panel said in dismissing Shetty's challenge of immigration officials' decision to stop him from boarding a Nov. 14 flight to the Middle Eastern nation.
He was appealing against a February ruling by a single judge of the High Court in the southern state of Karnataka.
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