In the history of UAE, the biggest fraud of Indian PM Narendra Modi’s business friend defined.
Indian businessman BR Sethi fled to India after embezzling billions of dollars in the United Arab Emirates, which is under investigation.
A hospital in the United Arab Emirates in troubled after Indian businessman BR Sethi fled to India, the hospital was managed by BR Sethi and the Indian businessman had taken a loan from Emirati banks in the name of the hospital.
After BR Sethi’s escape, the banks’ lending money to the hospital has also been in trouble.
According to the news agency, the New Medical Centre (NMC) hospital borrowed about 3 billion from 80 different international Emirati banks, NMC Hospital has billion in arrears, the possibility that 25 to 50 percent of existing debt likely to be written off.
According to the news agency, the shares of the hospital had already been suspended, while the hospital has requested the London Stock Exchange to expel the company.
UAE launches lawsuit against fugitive Indian businessman BRCThi while BRCThi’s case is being called the biggest fraud case in the UAE.
BR Sethi was at the forefront of the Indian government’s current Kashmir policy.