The BR Shetty story: How one of UAE's most successful entrepreneurs went bust!
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- Опубликовано: 1 июл 2020
- When BR Shetty landed in Abu Dhabi in the 1970s, he came with big dreams and just $8 in his pocket. He went on to create the healthcare giant NMC Health and Finablr, a financial services firm, both of whom listed on the London Stock Exchange. But that is only half the story. How could such a massive empire go bust? #brshetty #nmchealth #financialscams
Twitter: @bisboworld
Sources
PTI
NRI gifts Rolls Royce to singer Yesudas, December 3, 2003
Bloomberg
How BR Shetty went from billionaire to bust; Ben Stupples, Lisa Pham Feb 20, 2020,
London dreams turn into a nightmare for NMC, Finablr brothers, March 17, 2020
Economic Times
The staggering rise and incredible fall of a billionaire; Indulekha Aravind, Apr 29, 2020
Gulf News
Banks asked to search and seize BR Shetty’s accounts in UAE; Mazhar Farooqui, April 26, 2020
Fortune India
B.R. Shetty: Prescribing growth; Anshul Dhamija, Sep 21, 2019
The Mint
Shetty’s firm may be offered debt recast; Shayan Ghosh, June 12 2020
I haven’t done anything wrong, says NMC Health’s BR Shetty; M. Raghuram, Apr 30, 2020
Reuters
NMC founder owes over $250 million to Bank of Baroda; Saeed Azhar, Abhirup Roy, May 19, 2020
www.yahoo.finance.com
news.ycombinator.com/item?id=...
• Dr. BR Shetty speech d...
American accent voiceover credit: “shubby doo”
/ @shubbydoo7138
Shubham Mohapatra
I am an ex-employee of his company Unimoni India. We suffered mass layoff in lockdown due to this mess.
Do you trust your boss?? What do you think whose mistakes made the company suffer
Always remember your actual wealth is minus your debt. Most of the people will not be millionaires if they calculate in this way.
True
Absolutely right
And most of the people won't become millionaires if they don't take loan.
And Modi's Crony Ambani cut down his debt by billions with the Govt in his pocket
😇😇
He started with $8 and grown-up, but his wrong routes have brought him back to the worst state.
A lesson to learn, be honest in doing anything.
He has taken 40 years to do so. I'm sure all big businessmen like Ambani have grown from few dollars to billions in this time. It's no judgement to declare that he committed a crime. Your statement has no basis.
@@prajwalaithal7624
Good Afternoon sir,
Have I commented that he committed 'A Crime'? I don't think so.
Feeling bad to find such hard working person in a state like this.
Regards
Uma
@@prajwalaithal7624 . not true. Daniel Varghese himself is a cheat. He cheated the UAE government by putting his wife's name as the main leader of his company. Daniel's company's partner was BR Shetty's friend cum partner for NMC. When BR's friend came and begged Shetty for help in financial loss, BR Shetty had no choice but to financially "help" his partner by buying UAE Exchange. Daniel Varghese is an officer and he is not supposed to do business. Such a cheat Daniel was.
Donating half of NOTHING is still NOTHING.
Maybe, but still who were greedy enough to cheat wouldn't donate in the first place
Nothing is just nothing, which xan be everything
Whatever you say, Warren Buffett
I have met him in person in 2000. I felt he is too proud of his achievements. I don't think he was humble or caring for those who are in need of help. God is a great Judge!!!
Purushottam Bhat very true. He was never humble. You can very rarely expect a humble natured shetty. They carry so much of ego in them. And this br shetty is no saint. He is a crook
@@bignavin10 such a casteist slur, are you so jealous of us just because we are very successful despite being just 1.3 million in number, but this hatred is what motivates us to grow higher and higher Mr Casteist 😂😂😂
@@akankshshetty7710 blaming him for using casteist slur, proceed to boast about it.. it's kind of hyprocritic
@@sonu72049 its open to interpretations for sure, but i stand by what i said.
Being proud of my community's success because of our hardwork doesn't translate to sinister caste based discrimination, the timeline of my reference is strictly restricted to modern times where there's legally no caste hierarchy and anybody is totally unconstrained, you have all the right to take offense and I'll not give a damn regardless 🤷.
@@akankshshetty7710 I literally have no problem with you boasting about your caste.. he started it.. and you do have all the right to do it! And mostly it's your choice... But you could have also just let it be, if your whole point was that he is a casteist.. he critizes your caste you defend it, pride yourself in comparison.. and this will illicit a response.. you see the trend here.. Btw Shettys ik are hot..
Moral of the story- To avoid Muddy waters, try Range Rover
Lol
Lmao
Why and how
@@luuhd6758 Government support or bail out.
😀😀👍
Been stuck to your content dude!!! Really appreciable!!! Real in-depth research and hardwork I must say!!¡
Appreciate your comment!
And bisbos limerick as well🙌
he did not touch the real problem. watch the al jazeera story.
😂
This just cemented my belief that no amount of wealth any man can generate is in no comparison to the passion& or not greed in his heart 💯👌🏾
An honest person can not be rich in a short span of time, one day dishonesty sometime cause of the fall.
. Kannada people are honest. Not like ur Harsha Mehta. Just f off
He will come back with full Power. The one who has built such a big dynasty from scratch will not take much time for a come back. All the Best B.R.Shetty Sir👍
We Tuluvas are always proud of you...
@Kartikeya Sharma It is not proved yet, if it is proved that he is the culprit behind it then definitely I won't. But I have a belief that he is not the reason behind it, if that is the case then definitely I will stand with him....
@@mayurshetty4587 To 'prove it' he has to return to UAE. Which he will never do 😂. The day he returns you support him. Until then he is a defaulter, a fraud.
Hope so
@@slkslk7841 It's my choice you are no one to decide... Keep your thoughts with you... I know one thing that because of him many people were employed, and that matters to me...
@@ashashetty4831 👍
BR Shetty’s fall from Grace was a big shock, he was someone I looked up to. I lived next to his crown jewel, the NMC tower in Abu Dhabi, where he stayed in the penthouse with his extended family, multiple cars. He was a staple at all Indian functions and was a bit dramatic but always a generous person. His growth and personality gave inspiration to the hustler in me.
Shady guy though. Why would he steal from his own company?
@@ericksondaiz503 Indeed, also don't forget he stole from the hospitals and the nurses/doctors weren't paid for that month. During a worldwide pandemic too, the man has not one ounce of honour.
As a Kannadiga and south Indian, feel very sad. Hope things better for B R Shetty avaru.
Deepak he is a thug.
@@shibuthomas2745 ain't a thug . Just a show off
@Lohith Savanth for your clarification...he is kannadiga...worked in Maharashtra...then he went to UAE
@Serving It Cold He was DIRECTLY involved in all the scams
@Lohith Savanth Yeah, when a person is successful, he is a kannadiga, when he is a failure he is not a kannadiga
Amazing how he flourished in a small market like UAE. I assume the he Used UAEs good name and international exposure to his utter benefit
Thats the smartness of Kannada brains
. Kannada power
His group of companies under one umbrella reigns but subsequently umbrella shrunk and remained in closed stage. Jaihind
UAE exchange wasn't his company. The founder of UAE exchange was a malayali named Daniel Varghees , he took over the company by forging the signature. No wonder he lost everything...
The real founder of UAE exchange is a Keralite - Daniel Varghese. What is known is that Daniel was cheated and UAE exchange was forcefully taken over by forgery of signature or something. Check it up.
Unfortunately some ppl who watched this can't digest the fact. Sore losers
Yes this idiot is from my place he absconded from UAE now he is in Mangalore
@@bensonabraham6569 yeah true lot of losers watching this video.hehe....whatever it is you got to give it to the man....he achieved quite a feat creating these brands NMC health n uae xchange and market leaders in it own way....think it will last even after he is gone....the underlying business is strong and the gov might not let it fail i guess
Lol dear. There r thousands made their life coz of him. Those who earned piece of bread n butter coz of him now r barking against. His company has 70 percent from kerala only.
Yes, I totally agree with you, when he was in a position they could not bark, it is his destiny; though he did not help me but he helped thousands of people, things went bad with him; hope he will come back to normal
He's an old classmate of my grandmother's. Little to not contact nowadays, but that's a fun fact!
Shetty took over the UAE Exchange unlawfully, from a Mallu (Danial Varghese).
Now Mallus took over his business.
He did not take over Sevenhills hospital. It is still in court and is currently being handled by BMC for Covid
@bisbo rarely cares to reply on propaganda videos
I never skip a bisbo video once I press the play button. It keeps me hooked. Glad to have found this awesome channel.
Awesome! Thank you!
😂
Thank you for this story Bisbo 💯 Had been following this case but now, a complete and detailed description of the situation has been given. You guys are providing knowledge that will help us viewers think critically and try to understand all facets of an event or situation !!!!
Thanks for Sanjay
@sahil safar
Thanks for that info 👍
2 uploads in 3 days! Bisbo seems to be on fire💥💥💥
Keep it up
Good work Bisbo.
😀
I try Sid
you guys always inspire us with new content and characters. I am lucky and proud to be a subscriber of this knowledge world bisbo
Thank you Krishna
As a Kannadiga, I m proud of BR Shetty
He is an amazing man by heart.. You should also mention about his philonthrophy. His problem was he was believing every one. He was cheated by Daniel Varghese a keralite.
It's reverse actually..well never mind
@@apputaiparambil one crooked keralite supporting other ! LOL !
@@davelawson2564 evidence are on side of mr varghese. Uae exchange was his company until Shetty took it away by shrewd manipulation. So if Mr varghese returned the favour we can't blame him , but mr varghese didn't. Do your research.
@@apputaiparambil mr Varghese is a priest and not any founder.... please get your facts right......
@@andamone8884 brother you can check the facts. Just wiki it. He's also a preacher but that doesn't mean he wasn't a businessman. Please don't be a Typical assuming Indian who jumps into bandwagon.
You mentioned ''Shetty launched UAE exchange'' which is incorrect, Shetty took over unlawfully the UAE Exchange from its founder Daniel Varghese in 1980
There is proof on RUclips
@@jerrygeorge007 i am coming out with a you tube video......i am the actual founder of Microsoft and not bill gates.....hehe
Moral of the story!!!!.
Shetty deceived a Keralite years before and took over UAE exchange.
Later shetty was deceived by another Keralite and all the empire is now Gone!!!... Bhu bhooo😂😎
@Sanjay Shetty looks like you have some personal vendetta against Malayali people. Were you bullied in school by them?
@@IBleedTiranga it's not about getting bullied D1ck he@d it's in wikipedia....Google it you will get more info on it
3.24 plz tell me the music bisbo coz I want to use it in my videos too....
My parents being Investors respected this man so i searched his name and found the best channel on RUclips you earned subscriber.
Very nice video. I'm from Karnataka. And as far I have known about him, he's full of integrity. I hope he rightfully comes of this soon
His NMC hospital chain , is a quailty hospital with great service. Hope the hospital chain doesn't cease to exist due to this.
Hopefully he would be able to revive his empire
NMC at UAE is running smoothly...and is at comparative level..inspire of downfall..its the quality of care and dedicated doctors, nurses,paramedics and non non medical staffs...
I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability.
Invest globally in bitcoin, gold, silver, forex market, drop shipping and all other commodities . Just don't be left out and save yourself.
Good talk I tell that to my friends everyday. Saving is good investing is much better, I used to think saving would save me but NO, saving is just keeping to spend later.
@@joesefmarley6495 What if you don’t know how to trade any of these?
@@Sarah-ku5pd I mean.... I see your point. Some people have money and are willing to invest but the problem is where to.
@@Sarah-ku5pd This is 2021
People who aren’t even traders makes money from stocks, crypto and forex market.
Excellent narration! I've never listened to this long animation. The narration made me to do so. Good work! 👌
Awesome visuals
Thanks
I am watching bisbo when this channel for was on 1k this person never fails to provide us with good knowledge and he always tries to give his best his determination made this channel till 200k his videos didnt got viewes till10 k sub. But he is growing now
Thanks a million. Yes I remember those days when I barely got any views
I have huge respect for him for providing so much employment to the people of Mangalore. He changed their lives
Looting from people and ran away. Whatever you say truth theif is theif.
Malla kalve
@@eaglearabian9511 That is true, in one way he did something good and he's going into loss lol
Amazing content Team Bisbo! Keep it up! Not only it is informative but also crisp and love the narration (apart from a few mistakes in pronouncing names). Hats off!
Thanks Kunal
😂
people should be careful before investing in such Countries like UAE, China, Saudi which asks for investment with open arms. They often comes with strings attached like barrier to taking out money from the country or high governance
Keep doing what u are doing bisbo. I see that u really like doing this.All the best
Yes Shivam. Thanks
State politics .. kerala vs Karnataka .... kannada dont discriminate but kerala people do .... i feel there is a big kerala mafia behind shettys downfall ... i am 100% sure
Interesting take Robby
There is a mallu mafia everywhere....hehe..i dont want to paint everyone with the same brush but the fact is they do politics and groupism and spoil the corporate culture everywhere making it miserable for others
He did not start UAE exchange, he forcefully and fraudulently took it over from a partner illegally.
Elon Musk took away Tesla from me fraudulently
@@voyagerguru9274 brahmins will always be brahmins
@Shikari Shambu ya exactly he was smuggling drugs from the medelin cartel from Escobar and it's not mentioned here
@Shikari Shambu hey shikari shambu......i am enlightened now he was importing drugs from El chapo (sinolean cartel) from the Mexican drug lord who is now jailed in US so he could distribute it from his neopharma co to the public...this was reported last week by a reliable source and reported by Asianet news channel....thanks for your valuable inputs.....
Make a detail study about uae exchange, who was the real founder of uae exchange, hope u will get proper answer
ruclips.net/video/xQzLFmIxHlw/видео.html
He grabbed that uae exchange from a Keralite called vergheese and same Keralites closed him after 35 yrars
eh ? manasilaayila
Anaz pls read his life story
Moral: don’t play with karailtes
don't play with karalites or don't trust karalites.? anyways, I don't know much about him, only heard from Indians when I was in UAE about 25 years back, he started his business as a pimp. Is it true?
It's Karma.
Wow! Bisbo I love this video. Will be waiting for your next video
Many many thanks Surya
Great video presentation. Appreciate your skills. An excellent analysis of the data and availabile resources.
I admire you brother 💯. The way you do these videos... nothing less than any other well-planned crimes' explanation given by a protagonist in movies.
Riding over high waters without getting into depths.
CA brothers do have a role for sure .
they were the ones who got him into this entire mess
Really good quality content! Keep up the good work guys!
. Kannada pride. Kannada power
Awesome as always Bisbo, awesome as always.
Thanks again!
He deserved this punishment, He put honest person in the jail bfre he start his business. What goes around comes around. Thats call Karma
was that his business partner from Kerala
You are right.. opportunist
Very true
Exactly u said it karma...
Real feel for this guy who initially struggled so hard to make ends meet with his focus and determination. He trusted the wrong people and got cornered losing his reputation and hard earned money.
Br shetty will come back a self made man can do anything to bring back his name.all the best sir .show whole world who you are🙏
He will rot in uae jail's..... punishment r strict in UAE
Stunning stories about BR Shetty with clear cut version..
Like it and love it more. Mainly I'm watching first vedios in English subtitles .impressive infromation.
Thank you so much Tufail 😀
Anyways....Apart This,
Admin good Job ❤️.
Keep it up.
Unlike other jurisdictions, the UAE does not practice ‘right of survivorship’ (property passing on to a surviving joint owner upon death of the other, as would be the case in Commonwealth jurisdictions), and the local courts will need to make the final decisions on property ownership . Think about it ? what would you do to your property in UAE ?
First view bisbo wonderful information
Thanks and welcome Shashi
Thank you Bisbo for this type of content.
My pleasure Vignesh
Hi bisbo, it would be appreciated if you could also mention about the fraud he committed in acquiring UAE exchange. People need to know his dark side also.
What he did
@@9899013543 He along with the sponsor cospired against the man who founded UAE exchange & took over the firm while he was in india to invest in a bank.
True
@@sujithvarghese834 then why was no case filed ?
@@davelawson2564 It was filed actually. But a compensation was made out of the court which the original owner can't turned down in that hard time. 🤕
Bisbo pls do a video on how he cunningly took over uae exchange
He 'stole' it, you can say. He's a pakka fraud.
@@slkslk7841 tabhi toh modi dost aur modi bhakt tha!!!
@@slkslk7841 yeah thats right he stole it from his father Shambu shetty in 1980.......that mallu claiming to be an owner is a fraud claiming he started UAE exchange to be a youtube star....now he is pretty popular among mallus in youtube......
I pray God he bounces back again
Obviously yes he will and should be back
Moral of the story : don't trust mallus
Humble beginning..take you higher.
But over ambitious thoughts throw you down..
Still respect for his hard work.. And support his for his people..!!
He is not Keralites... He is a from Karnataka
Watch video properly that what they also said
Nobody cares
@@rover1087 🤣🤣
ಎಲ್ಲಾ ಮುಲ್ಲಾಗಳು ಬ್ಯಾಡ್ ಕಾಮೆಂಟ್ ಮಾಡ್ತ್ ಹಿವೇ
@@prasadrai8767
Lo. Bhakta
Kalla. Evanu. ....gujrathi kallaru. Desha looti Madi. London lli iddare chokidar yen madtavne. ....bhakata
I think any person may be bad times in his life... But always there are chances to conquer.. He will be for sure.. & All make mistakes, he is not different.. He will do everything well very soon in Future, Inshallah... 👍
Superb.. Information and details with supporting links...Great Guys..keep.it up.
Thanks Rajesh
Being Tuluva he was one of the role model for me. That's really sad. I hope everything goes fine, praying to God that things should not go worse enough to take drastic step like CCD founder V Siddhartha.
Dhanraj Shetty dont ever compare him to Siddhartha. This br shetty is a fraud. We locals know how he got rich.. bunts live in thier ego a lot. And to maintain status and ego they can do anything..
@@bignavin10 😂😂😂 butthurt
@@akankshshetty7710 truth hurts😂😂😂
@@bignavin10 yer ambe ee bvc, Nik daye kich aapini??
@@bignavin10 So jealous of Bunts 😂😂
Please make some video on successful story and their strategy or business plan to attain it.
I am from the Philippines and i love your content bro. the animation and the narration. god bless 🙏
A detailed account , crisply narrated.Thanks.
I met him personally at the time of his visit in the Sheikh Zayed grand mosque in abu dhabi, he was so humble I wonder how could he did so many frauds ..
Well this happened after he retired , how can he be responsible tell me. But he surely won't rest till he would get justice and Indian government should help such honest people
The whole angle of crown prince of abudhabi and sheikh mansoor involvement is not told in the video . See aljajeera documentary on the same ... looks like he was just a puppet .
All UAE royal family involved.
@@namitashetty5163 Why should the Indian government help him? Wasn't most of his businesses based in UAE? Or they should help him on the fact that his last name is Shetty and he is indian?😂
A Time proven formula -The Faster You Rise The Harder You Fall 😎
I see another party fitting this.... The CCP
I've seen he's Udupi bunglow it's next to my Udupi apartment well never saw him at his place though
Good info as always.
Thank you Swapnil
UAE EXCHANGE WAS STARTED BY SOMEONE ELSE AND SHETTY TRICKED THE REAL FOUNDER AND KICKED HIM OUT.
UAE exchange Started by mallu Achayan from mavelikara.
Yes. That was started by mallu. Shetty used his money and muscle power to take over from actual owner. Because of his threat actual owner escaped from middle east And now he is in america..
Help Sakshi crime trapped
@@Onana1213 yeah Shetty used to go to the gym in 70 s and used to work out for 2 hours in hot summer degrees....so he had muscles to remove the priest from st Peter's Chapel in dubai which was inaugurated by Sheikh Zayed in 1967
@@ranasingh7135 wtf are you saying?
wrong information. he cheated the owner of uae exchange and stole the company from him. he never started uae exchange
Nothing...dont spread fake news.
Karthick Thirunavukkarasu BR Shetty is a fraud.
@@toddlee9281 Daniel Varghese a keralite is a fraud and cheated Mr. Shetty
Show facts . If so are there any cases filed by the founder. There are laws to protect any businesses. UAE exchange is about 40 years old company.
Yousuf Ali lulu is scam in UAE, also financing pfi inkerala.
Woww..the narration and graphics are amazing
You never know which topic bisbo is preparing a video on!
Lol true!
00:30 LoL😂 Masterpiece!!! 😂😂😂
The narration sound as certainly improved.
Shetty, better you watch ramayana and mahabaratha in jail. Wish you bad luckm
Nice video.. Thanks for calling Kannadiga .. good to hear
Hey,which software do you use to create such animation ?
This is very good and simple content. Hope to see more
Thanks Fahad, do watch our other vids
I'm BR Shetty's relative
Love the content.
12 mins video isn't enough to cover everything
Agreed
Where r u from?
@@CR-bz3zm kundapur
@@BisboWorld small correction to your video bisbo.
The seven hill hospital deal never went through. He failed to acquire it.
Also he had unofficially returned to India for his brothers sake in early march. Who was suffering from cancer and eventually passed away in April.
@@BisboWorld Nim ajji simply mean 'your grandma'. I wouldn't trust this person to be a relative of any sort XD
1:34 That hand gesture was spot on
Funny and informative... That's your USP!!
Thanks Theo
Now he can visit the jungles and collect tigers milk ,😁
Fool
🤣🤣
I think u must be worried that he supported narendra modi
@@millionwayz4366 Right now the only person worried is BR Shetty :D :P :D
That dude is the chairman of my school lol
Which school is that?
dan95 ADIS or Abu Dhabi Indian school he comes to my school for almost every republic celebration in my school, you can check I am not lying, I wish I could show photos in the comments then everyone will believe me
@@memezplayz4238 that's true he was the chairman of ADIS and owns a dozen of other schools in Deira and Dubai called bright rider schools.....
Great effort Bro.......Keep it up
Bisbo, great video, keep up the great work.
Please try to make a video on the current Vikas Dubey
He is a theif. He dint start UAE exchange. He used his power to seize it from its owner.
That's the real Truth no one knows.. only we malayalees know it
@@roctechproductions not just mallus but even us kannadigas living on the coast too know!
if he allegedly siezed it than its a good thing cause its because of him that UAE exchange is a household name in UAE and across the world....else it would have either not survived or would have been just another xchange
@@andamone8884 wow even your own soul won't trust u
wht did thomas alva edison did to nicole tesla its part of business.....
Make a video on V G Siddhartha too
Incredible explanation and animation! Keep it up!
Glad you enjoyed it!
Excess Kills
Scarcity is Wisdom
I truly wish him to spring back to prosperity.
Nothing matters now as already he lived his dream life
youhemin it’s not abt living life it’s abt what remains after person passes
@All, Like if agree to Mr.Faizal comment or Dislike to agree my view.
Hi Bro! Your animation work is excellent. May I know how you do it? I mean, which software you use?
Which software you use to create this types of video?
He is also responsible for some other business men's suicide.
Accused in Bank fraud case, he is put down India's image in foreign land
@Asif Ansari before modi india were the very good reputation in world.
Your channel will become billionair in subscriber base .......very interesting it keeps us very engaging and curious that what will happen next......just keep it up ......
Thank you Bharat
I pressed Bell 🛎 very interesting for investors