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Bank of Baroda pays ₹5,700 crore to settle NMC Health insolvency dispute

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Bank of Baroda has reached an out-of-court settlement worth $600 million (approximately ₹5,700 crore) with administrators of the defunct NMC Health group. The agreement resolves a prolonged legal battle tied to cross-border insolvency proceedings and alleged fraud. NMC Health collapsed in 2020, triggering one of the largest corporate failures in the UAE. The settlement funds will be distributed among NMC's creditors. Bank of Baroda's shares reacted to the announcement following the deal's disclosure.

Read the full story at Times of India

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