Indian entrepreneur BR Shetty has filed a complaint with central investigative agencies in India seeking a probe into two former top executives of his companies and two Indian banks related to a multi-billion dollar financial scandal engulfing his group.

Several companies linked to Shetty, including top United Arab Emirates hospital operator NMC Health PLC and payments firm Finablr PLC, have come under severe financial strain this year after short-seller Muddy Waters questioned NMC’s financials.

At issue, Muddy Waters said, were questions about NMC’s asset purchase prices and capital expenditures, which it said were both inflated.

NMC and Finablr subsequently announced far higher debts than they had previously reported.

Shetty’s 55-page complaint, a copy of which was seen by Reuters, accuses the former chief executives of NMC and Finablr, along with their associates and bankers, of inflating the companies’ balance sheets, arranging “illegal” credit facilities and misappropriating funds since 2012.


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An investment group led by Boston businessman Jim Pallotta has sold its controlling stake in the AS Roma soccer team to a Texan billionaire.

The soccer team and its buyer, The Friedkin Group, announced that it completed the deal with Pallotta’s NEEP Roma Holding on Monday. The negotiations have been rumored since late 2019. The team confirmed a deal was struck on Aug. 5 that was valued at 591 million euros, or about $700 million. As part of the deal, Houston-based Friedkin will make an offer for the publicly held shares in the team, roughly equivalent to a 13-percent stake. (Forbes had estimated in 2019 that the Roma team was worth $622 million.)

New owner Dan Friedkin issued a statement saying he has developed an ambitious business plan with Roma chief executive Guido Fienga, and will “give him the support, guidance and means to deliver on that plan.”

Pallotta runs

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