Bank of Baroda Settles High-Stakes Litigation with NMC Entities in $600 Million Settlement

Bank of Baroda Settles High-Stakes Litigation with NMC Entities in $600 Million Settlement​

Bank of Baroda has concluded a protracted dispute regarding insolvency and civil proceedings involving several NMC entities. The bank entered into an out of court settlement with the joint administrators of NMC Health PLC, NMC Healthcare Ltd, and NMC Holding Ltd. The payment was settled by the bank's Abu Dhabi Branch.

The litigation involved two major proceedings: the ADGM Proceedings (Case Nos. ADGMCFI-2022-299 & ADGMCFI-2020-020) before the Abu Dhabi Global Market Court of First Instance, and the English Proceedings (Case No. BL-2022-002097) before the High Court of Justice in England and Wales.

The dispute covered insolvency and civil matters under ADGM and UK insolvency law, along with UAE civil law. The trial in the ADGM proceedings had commenced on March 23, 2026, while the English Proceedings were stayed awaiting the outcome of the ADGM case.

A settlement agreement was reached, resolving all claims between the NMC entities and Bank of Baroda. As part of this resolution, Bank of Baroda made a payment to the NMC entities. The bank's liability in these proceedings is limited to the agreed-upon sum.

The key details of the settlement are summarized below:


The settlement resolved all claims and causes of action between the parties without admission of liability or wrongdoing from the NMC entities. Consequently, the ADGM proceedings have been discontinued, and the English Proceedings are in the process of being discontinued. This conclusion aims to avoid prolonged litigation and associated costs.

BANKBARODA Stock Price Movement​

As of 2:27 PM, Bank of Baroda shares are shedding value in live trading, slipping by 3.68% to trade at ₹261.65. The stock sees a substantial flow of interest, with over 13.53 million shares traded during the session.