India's Bank of Baroda says it will defend interests after UAE businessman Shetty files $15 bln suit

By Jayshree P Upadhyay and Gopika Gopakumar MUMBAI, Oct 14 (Reuters) — India's Bank of Baroda on Wednesday said it will protect its interests, a day after UAE-based businessman and founder of NMC Health filed a $15 billion case against the lender and 25 other defendants in the Bombay High Court. NMC Health founder B.R. Shetty alleged that Bank of Baroda and several current and former employees helped facilitate a fraud that contributed to the collapse of the Middle East healthcare group, according to a court filing reviewed. The firm, then the Gulf's largest private healthcare provider, was placed under administration in 2020 after months of financial mismanagement, and disclosed debts of $6.6 billion, above earlier estimates of $2.1 billion. Representatives for Shetty did not immediately respond to Reuters requests for comment. In a stock exchange notification on Wednesday, the country's second-largest state lender said, "The Bank has not been served with such a suit and cannot comment on the contents of pleadings which are untested in court. If and when the Bank is served, the Bank will defend the suit firmly and take all steps necessary to protect its interests." Bank