Bank of Baroda Settles NMC Health Litigation

Bank of Baroda (BoB) has reached an out-of-court settlement with NMC Health PLC, NMC Health, and NMC Health, agreeing to pay $600 million (approximately \u20b95,700 crore) through its Abu Dhabi Branch. This settlement resolves years of cross-border legal proceedings in the Abu Dhabi Global Market (ADGM) and UK insolvency regulations, as well as UAE civil law, stemming from the collapse of NMC Health in 2020. The agreement was made without admission of liability or wrongdoing by Bank of Baroda, and its terms remain confidential. Following the settlement, proceedings before the ADGM Court of First Instance have been discontinued, and those before the United Kingdom — High Court of Justiciary of England and Wales are in the process of being withdrawn. The news led to a more than 4% drop in Bank of Baroda's shares.