Bank Of Baroda Share Price Falls As BR Shetty Files $15 Billion Lawsuit Over Alleged NMC Healthcare Fraud
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The Bank of Baroda stock price declined after BR Shetty reportedly filed a $15 billion damages lawsuit against the lender and 25 other defendants. The claim charges fraud in respect of NMC Healthcare.
The Bank of Baroda share price declined following reports of the lawsuit on 14 October 2026. NMC Healthcare founder BR Shetty reportedly filed a lawsuit seeking $15 billion, about ₹1.44 lakh crore, from Bank of Baroda and 25 other defendants in the Bombay High Court.
The petition reportedly claims that the bank and some officials facilitated fraudulent transactions involving companies linked to his group.
On 14 October 2026 at 9:49 am, Bank of Baroda shares were trading at ₹232.55, down 2.47% on the National Stock Exchange (NSE). It opened at ₹235.90 against its previous close of ₹238.43. During the early trade, the stock recorded a high of ₹235.90 and a low of ₹230.40.
Bank Of Baroda Stock Performance In 2026
The stock had fallen 22.7% so far in 2026, underperforming the Nifty 50, which was down 13% over the same period. The bank’s market capitalisation stood at approximately ₹1.2 lakh crore.
The broader market also opened on a subdued note. At 10:05 am on 14 October, the Sensex was down 14.81 points, or 0.02%, at 73,018.97, while the Nifty fell 18.80 points, or 0.08%, to 22,703.15.
Bank Of Baroda Lawsuit Further Details
As per the filed petition, Shetty has claimed $5 billion each in direct damages, consequential damages including lost business opportunities, and compensation for alleged reputational harm, along with 18% annual interest.
The allegations include the alleged diversion of funds through accounts linked to purported suppliers, inadequate investigation of anti-money-laundering alerts, unauthorised transactions and the use of personal guarantees bearing allegedly forged signatures.
The report notes that these claims have not been established by a court.
Bank Of Baroda Will Defend The Case
The Bank of Baroda said it had not received formal service of the lawsuit and would take the necessary steps to protect its interests if served.
The lender also said it was pursuing recovery proceedings against Shetty in India and the United Arab Emirates (UAE) over approximately ₹2,800 crore in dues. It cited several decrees against him and a 2021 Karnataka High Court order restricting the disposal of his assets.
The bank also pointed to the dismissal in July 2024 of an earlier lawsuit filed by Shetty in New York that raised similar allegations. Separately, Bank of Baroda had agreed in July 2026 to pay $600 million, or approximately ₹5,700 crore, to settle litigation involving NMC group companies and their joint administrators.
The lender said that the settlement did not amount to an admission of wrongdoing or liability. Shetty reportedly contends that he was not a party to the settlement and that it does not extinguish his separate claims.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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