Overview
- Justice Andrew Moran ruled on October 8 that B.R. Shetty lied under oath in denying he signed a personal guarantee tied to a $50 million facility.
- The order awards State Bank of India $45,997,554.59 with post-judgment interest at 9% per year, accruing at roughly $11,341 per day.
- The court accepted evidence including a May 2020 email from Shetty’s account, meeting records, and photographs with bank officials.
- SBI executive Anantha Shenoy testified he witnessed Shetty sign the guarantee on December 25, 2018, with handwriting experts linking the signatures to Shetty.
- Moran described Shetty’s testimony as “an incredible parade of lies,” noting NMC made repayments through January 30, 2020 before the group’s 2020 collapse over hidden debt.