BR Shetty seeks probe by CBI, ED into $6BN 'fraud' in his companies
New Delhi: UAE-based businessman BR Shetty has sought an investigation by central Indian agencies into what he termed a $6 billion fraud committed by former top executives of his companies in connivance with "unscrupulous" bankers.
The founder of hospital chain NMC Healthcare and UAE Exchange has sent a written complaint to the Central Bureau of Investigation and Enforcement Directorate, urging them to probe the alleged embezzlement, corruption, and laundering of money of his companies.
Shetty has alleged that his two former top executives, Prasanth and Promoth Manghat, connived with bankers, auditors and embezzled billions of dollars.
He has sent copies of the complaint to the Prime Minister and the Serious Fraud Investigation Office of the Ministry of Corporate Affairs.
Economic Times has seen a copy of the complaint.
The complaint is the outcome of a “painstaking” internal global probe by Shetty and warrants a thorough investigation by the central probe agencies, advocates Zulfiqar Memon of MZM Legal, and Nirvikar Singh, who represents Shetty was quoted as saying by Economic Times.
Prasanth and Promoth Manghat, who were former chief executives of NMC Healthcare and UAE Exchange’s holding company Finablr, respectively, could not be reached for comment. According to Shetty’s complaint, the whereabouts of the Manghat brothers were unknown.
The probe agencies have yet to take cognizance of Shetty’s complaint.
Shetty has approached the Indian authorities even as he is facing a probe in the UAE following the collapse of NMC Health, which went into administration for insolvency in April. According to reports, the UAE Central Bank had ordered the seizure of the assets of Shetty and his family, and the Dubai International Financial Centre courts had issued worldwide freezing of his assets.
In India, a court in May had barred Shetty and his wife from selling or transferring some properties till further orders, on a complaint by Bank of Baroda which is seeking to recover loans of more than $250 million from the businessman and his companies.
Shetty, who has blamed his former executives and lenders for the crisis, has named ten individuals and institutions in his complaint seeking criminal action against them.
Shetty has alleged that banks were prosecuting him in a bid to usurp his personal properties and suppress an internal investigation initiated by him.
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NEET student hangs self in Rajasthan's Sikar
Jaipur (PTI): A student preparing for the NEET examination allegedly committed suicide by hanging himself in a rented room in Rajasthan's Sikar on Friday, police said.
According to the police, the student allegedly hanged himself from a ceiling fan using his sister's scarf while one sister was attending coaching classes and the other was in the bathroom.
He had appeared in the NEET UG exam 2026, which was cancelled due to paper leak, they said.
Udyog Nagar SHO Rajesh Kumar said that the deceased, identified as Pradeep Meghwal, was a resident of Kanika ki Dhani village in Jhunjhunu's Gudha Gaudji area.
He had been living in a rented room in Sikar's Jaldhari Nagar area with his two sisters while preparing for NEET over the last three years.
His elder sister later found him hanging and informed the landlord and police after bringing him down, officials said.
The SHO said the body was kept at SK Hospital mortuary, and a postmortem had not been conducted.
The student's father, Rajesh Kumar Meghwal, told police that Pradeep's NEET examination had gone well and the family was expecting him to score around 650 marks.
Former Rajasthan deputy chief minister Sachin Pilot expressed grief over the incident and linked it to anxiety among students after reports of irregularities and paper leaks in NEET 2026.
Pilot said repeated paper leak incidents and cancellation of examinations were affecting students' mental health and demanded a time-bound investigation and strict action against those responsible.
