India, Aug. 3 -- Records from Abu Dhabi Global Market Courts also show the bank was working in connivance with NMC Healthcare in hushing up debts worth more than $5 billion

With Bank of Baroda (BoB) keeping stony silence on why it settled a case in Abu Dhabi Global Market Courts by paying Rs 5,700 crore, court records show that the bank was charged for working in connivance with NMC Healthcare, a healthcare chain and distribution business in the United Arab Emirates (UAE), in hushing up their debts worth more than $5 billion and for violation of anti-money laundering norms. The bank's recent quarter profit was Rs 5,170 crore and the announcement of this settlement has tanked the bank shares.

In 2019, NMC Healthcare was accused of unders...