Manama: The Central Bank of the UAE (CBUAE) has instructed banks operating in the country to freeze all bank accounts of Indian business tycoon BR Shetty, and his family, and companies owned by him.
According to Al Bayan, the central bank has also directed the freezing of bank accounts of senior officials and managers of BR Shetty's companies. The central bank blacklisted many of Shetty's companies and their senior managers.
The central bank directed financial institutions to search and freeze to deposits or investments in the name of Shetty or his family members. The central bank also instructed to stop transfers from these accounts and to deny access to the locker.
Citing the decision of federal attorney general, the central bank sought information about credit facilities extended to Shetty's, details of their lockers, and their financial transfers to date. A similar advisory has been issued for NMC Healthcare and NMC Holdings.
Shetty is the founder and former chairman of NMC Healthcare Group. He is Currently in India and facing a string of charges.
The company has debts of several crores in various banks, sources said. NMC recently disclosed a debt of $6.6 billion.
Shetty was reportedly involved in serious financial scandal in UK. The British Supreme Court has decided to appoint a judicial guard at NMC on April 9 at the request of Abu Dhabi Commercial Bank.
In a recent statement, Shetty said that he intends to return to the UAE as soon as flights resume. Shetty is a native of Udupi district in Karnataka.
