Bank of Baroda has agreed to pay $600 million (around ₹5,700 crore) to settle legal claims related to the collapse of UAE-based healthcare company NMC Health.
The settlement brings to an end years of litigation in Abu Dhabi and London over loans extended before the company’s 2020 collapse. The bank said the decision was taken after assessing the costs and risks of prolonged legal proceedings and will provide certainty by resolving all outstanding claims.
Bank of Baroda has already made provisions for much of the settlement, limiting the impact on its financials and allowing it to focus on its core business.