NMC Health fell into insolvency last year and ADCB is its biggest creditor.
NMC Health was founded by Mr Shetty in 1975 and grew to be Abu Dhabi s biggest privately-owned healthcare company. However, the company was placed into administration last year after an independent investigation uncovered more than $4.4 billion of previously undisclosed debt.
The lender contends that the reason for the group s insolvency was fraud on a massive scale, and that Mr Shetty was a participant , the order states.
It follows on from action taken by ADCB in the English courts in December last year granting a worldwide freezing order on the assets of Mr Shetty and five other former NMC shareholders and directors, which granted permission to the lender to seek a domestic freezing order in Abu Dhabi. The five companies named in the ADGM Court order are BRS Investments Holdings 1, BRS Investments Holdings 2, BRS Investments Holdings 3, BRS Investment Property and BRS Health.
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