Shetty, wife restrained from mortgaging assets

HC order comes on bank’s plea

The Karnataka High Court has granted temporary injunction restraining NRI entrepreneur and promoter of UAE-based NMC Healthcare, B.R Shetty, and his wife from alienating, transferring, dissipating and mortgaging their movable assets such as shares, mutual funds and deposits in banks. A Division Bench comprising Chief Justice Abhay Shreeniwas Oka and Justice Sachin Shankar Magadum passed the order while allowing an appeal by the Bank of Baroda, which had questioned the August 28, 2020 order of the Commercial Court granting temporary injunctions in respect of only immovable properties of Mr. Shetty and his wife Chandrakumari R. Shetty. Meanwhile, the Bench dismissed the appeals filed by Mr. Shetty and Ms. Shetty challenging the Commercial Court order of granting temporary injunction in respect of immovable properties.