Bank of Baroda settles NMC Health litigation for USD 600 million

Litigation LossRegulatory & Legal View source PDF Explain this filing

BANKBARODA · price

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Price reactionminutes from the announcement price · days from the prior close

-4.3%Reaction day

₹271.20

prior close

₹268.00

announcement price

In-mkt

timing

Nifty 100market+0.7%-5.0% vs market

Public Sector Bank peers, median of 11sector+0.3%-4.7% vs sector

On the reaction day the stock moved 5.0 pts less than Nifty 100 and 4.7 pts less than its Public Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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Sessions after the filingfrom the prior close

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Reaction day

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Next day

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UpDownMarket · Nifty 100Sector · Public Sector Bank peers, median of 11Pending

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AI summary

Bank of Baroda has settled all litigation with NMC Health PLC, NMC Healthcare Ltd and NMC Holding Ltd (all in administration) by paying USD 600 million (about Rs 5,700 crores) through its Abu Dhabi Branch. Cases were in Abu Dhabi Global Market Court and UK High Court of Justice involving insolvency and civil proceedings. Settlement is without admission of liability or wrongdoing. All claims between parties are resolved and the proceedings are being discontinued.

Likely market impact

Material outflow of about Rs 5,700 crores from Abu Dhabi branch; ends prolonged litigation and caps bank liability at this amount.