Mumbai, July 4 -- Bank of Baroda (BoB) has agreed to pay $600 million, or about Rs.5,700 crore, to settle a years-long legal battle with the joint administrators of collapsed UAE healthcare company NMC Health, bringing an end to the lender's involvement in one of the largest overseas litigation cases involving an Indian state-run bank.

Mint explains why Bank of Baroda has agreed to pay, even after it said in its FY26 annual report that it had a strong chance of a favourable outcome in the case.

While the bank has asserted that the settlement was reached without any admission of liability or wrongdoing, and was aimed at avoiding prolonged litigation, uncertainty and legal costs, it has revived allegations by NMC founder B.R. Shetty, who ...