Bank Of Baroda Settles NMC Health Dispute With ₹5,700 Crore Out-Of-Court Deal

New Delhi: State-owned Bank of Baroda (BoB) on Thursday said it reached an out-of-court settlement with NMC Health PLC, NMC Healthcare Ltd, and NMC Holding Ltd, with USD 600 million (about Rs 5,700 crore) paid through its Abu Dhabi Branch.

The case involved proceedings under Abu Dhabi Global Market (ADGM) and UK insolvency regulations, and the UAE civil law in relation to NMC Health PLC, NMC Holding Ltd and NMC Healthcare Ltd, BoB said in a regulatory filing.

"NMC Health PLC, NMC Healthcare Ltd, NMC Holding Ltd, and their respective Joint Administrators, have resolved the claims between them and the Bank of Baroda in consideration for, inter alia, payment by Bank of Baroda of USD 600 million, pursuant to a settlement agreement," it said.

All claims, causes of action, etc. between them have been resolved without admission of liability or wrongdoing, it said.

The settlement agreement and its terms otherwise remain confidential, it said, adding that the liability of the bank in these proceedings is limited to this sum.

"Pursuant to the settlement agreement, the ADGM have been discontinued. The English Proceedings are in the process of being discontinued," it said.

Shares of BoB closed at Rs 260.15, down 4.18 per cent on the BSE.

Meanwhile, in a separate filing, BoB said the bank registered a total credit growth of 17 per cent to Rs 14.17 lakh crore in the first quarter of FY 27.

The outstanding credit was Rs 12.07 lakh crore at the end of the June quarter of the previous fiscal, it said.

The Mumbai-headquartered public sector lender reported a 14 per cent increase in total deposits to Rs 16.3 lakh crore in the reporting quarter against Rs 14.35 lakh crore at the end of the first quarter of the previous financial year.

As a result, the total business (total credit and deposits) of the bank registered an increase of 15 per cent to Rs 30.5 lakh crore compared with Rs 26.42 lakh crore at the end of June 30, 2025.

(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)