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Indian businessman B.R. Shetty, one of the well-known entrepreneurs in the UAE, has suffered a major setback after the Dubai International Financial Centre (DIFC) Court has ordered him to pay 168.7 million dirhams (around Rs. 408 crore) to the State Bank of India's DIFC branch. The court found that Shetty had lied under oath. He had denied signing a personal guarantee for a loan worth 183.5 million dirhams, but the court ruled that evidence clearly proved he had signed it. In a judgment issued ...Read More >
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