UAE-based Indian billionaire BR Shetty’s company Finablr Plc is getting ready to selling its business to an Israeli-UAE consortium for $1, capping the collapse of a business that had a market … [14], Shetty was born in Kapu, Udupi to Tulu-speaking parents Shambhu Shetty and Koosamma Shetty on 1 August 1942 to an ethnic Tuluva family. Dr BR Shetty with Prime Minister Narendra Modi. employees treating 8.5 million patients a year. [2][3] Shetty's initial interest in 1975 was in hospitals and hospitality and has since diversified into pharmaceuticals, financial services, retail, advertising and information technology. [20] Consequent to the request from the NMC board of directors and an on-going investigation of potential financial irregularities, the company was de-listed from London Stock Exchange and was removed from FTSE 100 index. In 1975 he founded a small pharmaceutical clinic, New Medical Centre (NMC), motivated Dr. BR and CR Shetty Foundation headquartered in Bangalore, India. [51] He received the Deal of the Year Award at the 2015 Indian CEO Awards. Dr. Shetty holds these achievements close to his heart because they were awarded by the two countries he believes BR Shetty net worth. [22], In August 2019, BRS Ventures announced plans to invest $5 billion in developing healthcare facilities across India. Article 370 was abrogated in Jammu and Kashmir on 5th August,2019. B R Shetty who came to see his ailing brother, who has since passed away, is now staying at his brother’s house in Mangaluru and studying about the legal fight to be fought to bounce back. UAE 1 Healthcare Provider in India Over The Next 10 Years", "Billionaire B.R. SSNMC Super Speciality Hospital, located at Rajarajeshwarinagar, was run by … Bavaguthu Raghuram Shetty is an Indian-born businessman who is the founder and acquirer of a number of companies based in the United Arab Emirates, including Abu Dhabi-based NMC Health, Neopharma, BRS Ventures, and Finablr. BR Shetty and family are the embodiment of generosity and humanity and have contributed immensely towards the welfare of society. [64], In January 2017, Shetty was honored at the Annual Health Awards with a special award for his contribution to the region's healthcare industry. Agencies Bavaguthu Raghuram Shetty (File Pic) In mid-2018, during a media interaction, Bavaguthu Raghuram Shetty remarked: “If I don’t have one problem a day, that’s not a good day for me. [6][7] On April 8, 2020, NMC Health went into Administration in UK due to the insolvency of the company. Four years later, he was awarded one of India’s highest After working as the country's first medical representative,[17] he founded New Medical Centre Health (NMC) in 1975 to fill the need for personalized, cost-effective healthcare accessible to all. Bavaguthu Raghuram Shetty (popularly known as Dr. B.R. [10], On 15 April 2020, Abu Dhabi Commercial Bank filed a criminal complaint against NMC Health with the Attorney General's Office of UAE. BR Shetty News including daily updated Middle East BR Shetty News, Gulf Investment & Financial headlines, Latest Banking News, Top Financial News, Online Banking & UAE Financial Services News Find also International & World Banking & Finance Industry News Shetty, founder of NMC Health and UAE Exchange, has been in trouble since February. UAE businessman BR Shetty resigns from board of NMC Health This follows his exclusion from board of directors’ meetings Published: February 17, … Serves Indian, North Indian, Seafood, Chinese. [42], In September 2012, Pharma Leaders founded by Satya Brahma declared Shetty as Global Indian of the Year along with Kiran Mazumdar Shaw at 5th Annual Pharmaceutical Leadership Summit & Pharma Leaders Business Leadership Awards 2012 in Mumbai. He was the chairman of Abu Dhabi Indian School, Abu Dhabi Indian School-Branch 1, Al Wathba and Bright Riders School till 2019. [15] Shetty completed his pharmaceutical education from Manipal in India and also served as the Vice-Chairman of the Municipal Council in Udupi. [68], Learn how and when to remove this template message, "Indian Rich List in full - ArabianBusiness.com", "I Want To Be The No. Other money transfer and foreign exchange services were founded (Xpress Money, Remit2India, Located in Al Karama, Dubai. Four years later, he was awarded one of India’s highest civilian honours, the prestigious Pravasi & Padma Shri, by the President of India for his services to the Indian diaspora. [47], In 2014, Forbes Middle East recognized Shetty with the Top Indian Leaders in the UAE Award. Shetty with Lifetime Achievement Award", https://en.wikipedia.org/w/index.php?title=B._R._Shetty&oldid=1002195790, Recipients of the Padma Shri in trade and industry, Indian emigrants to the United Arab Emirates, Articles with dead external links from October 2019, Articles with permanently dead external links, Wikipedia articles that are excessively detailed from February 2020, All articles that are excessively detailed, Wikipedia articles with style issues from February 2020, Creative Commons Attribution-ShareAlike License, This page was last edited on 23 January 2021, at 07:52. The exchange house’s mother company Finablr hired an adviser to prepare for potential insolvency proceedings as the London-listed firm works with an unidentified accounting firm on “rapid contingency planning,” according to a regulatory filing Tuesday. [60] Shetty's NMC Healthcare was recognized at the 6th Middle East Business Leaders Awards in 2015, where Shetty was given the Industry Excellence in Healthcare Award. Shetty Launches New Financial Firms Holding Company Finablr", "How Indian billionaire Bavaguthu Raghuram Shetty went bust", "Billionaire BR Shetty resigns from Abu Dhabi's NMC Health", "BR Shetty's fortune drops by $1.5 Billion", "Former Indian Billionaire's Gulf Dream Turns Sour", "ADCB files criminal complaint against individuals over NMC Health", "NMC's BR Shetty, 5 others face fraud, forgery charges", "After cases in UAE, BR Shetty on radar of Indian probe agencies", "UAE orders seizure of Shetty's assets; FTSE ousts NMC", "Mangalorean Tuluva B R Shetty Buy's Travelex for 1 billion", "BR Shetty, the astute businessman who turned $8 into $1bn", "Dr B.R.Shetty to build Abu Dhabi's first medical university in honour of Sheikh Zayed", "Dubai Dreams: From jobless medical rep to billions - BR Shetty", "Gulf private hospitals group NMC eyes UK launch after leap into FTSE 100", "Dr B.R. [32] H. H. Sheikh Mohammed bin Rashid al Maktoum nominated Shetty as a member of the UAE medical council in September 2016. Finablr, the embattled foreign-exchange business, which uncovered about £1 billion of debt hidden from its board that may have been used for purposes outside of the company and compounding a scandal that pushed its sister firm NMC Health Plc into administration has announced that founder BR Shetty will resign as director and co-chairman with immediate effect. He is the founder and patron of the Indian Pharmaceutical Association in the Emirates, and is a member of the Advisory Board (Financial Sector), Economic Department, Government of Dubai, UAE and the Pharmaceutical Committee, Dubai. [18] That same month, he was elected to be chairman of the Indian Business/Professional Group. [9] Consequently, Forbes has dropped Shetty from its 2020 annual list of billionaires. In 2019, BR appeared on Forbes billionaire list at number 42 in India and 804 globally. [38], Shetty was honored by the Pravasi Bharatiya Samman in 2007. Image- PIB India. [19], In 2012, Shetty led NMC through an IPO on the London Stock Exchange, which raised $330 million. [22], In June 2016, Shetty announced that he was building the first medical university in Abu Dhabi in honor of Sheikh Zayed. BR Shetty cars are mainly Rolls Royce, and he owns a private jet. [14], B.R. [19] Inaugurated by the then President of India, A. P. J. Abdul Kalam in Abu Dhabi, Neopharma is centered on using the concept of modular manufacturing following global benchmarks in manufacturing technology and putting in place efficient control mechanisms. Shetty immigrated to the UAE in 1973. [39][40], Shetty received the Padma Shri awarded by the President of India in 2009 for his contribution in the field of trade and industry. Shetty was an activist of the erstwhile Jan Sangh, the predecessor to the BJP, before he went to the UAE. 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