The Rise and Fall of B R Shetty: How Padma Shri Awardee’s Rs 12,000-Crore Empire Was Sold for Rs 74
Last Updated:April 11, 2026, 09:00 IST In 1975, with the help of loans, Shetty establishes the New Medical Centre (NMC) in Abu Dhabi with an initial capital of 15,000 dirhams (around Rs 34,268). Born in 1942 in Udupi, Karnataka, Bavaguthu Raghuram Shetty started his career as the UAE’s first medical representative, selling medicines door-to-door. The…