Bank of Baroda (BoB) reaches an out-of-court settlement to resolve its long-running dispute connected to NMC Health’s 2020 collapse. Multiple reports say the settlement is for about $600 million (around ₹5,700 crore) and is intended to end protracted litigation involving creditors and administrators. The case is linked to proceedings in the Abu Dhabi Global Market (ADGM) Court of First Instance and also draws on UK insolvency regulations and related UAE civil law, according to BoB’s statements in regulatory filings cited by outlets.
BoB says the settlement covers claims between NMC Health PLC, NMC Healthcare Ltd and NMC Holding Ltd, along with their respective joint administrators. The bank also states that the settlement resolves all claims and causes of action between the parties without any admission of liability or wrongdoing, and that the detailed terms remain confidential. Reports also note that BoB shares fall by roughly 4% following the announcement.
The settlement is described as a way to avoid further legal uncertainty, duration and costs for the parties while enabling creditor recoveries, though it is presented as a financial resolution rather than a finding on fault.
