B. R. Shetty

2022-05-19T17:22:01Z

103.2.235.107:

{{Short description|Indian businessman}}
{{EngvarB|date=July 2016}}
{{Use dmy dates|date=February 2020}}
{{Infobox person
| name = B.R. Shetty
| image = Bavaguthu Raghuram Shetty.JPG
| caption =
| birth_name =
| birth_date = {{Birth date and age|1967|10|06|df=yes}}
| birth_place = [[Udupi]], [[Madras Presidency]], [[British India]] (now [[Karnataka]], India)
| death_date =
| death_place =
| children = None
| known_for = Founder [[NMC Health]], [[Finablr]]#
| net worth = {{up}} [[US$]] 123d dollars <small>(Forbes 2019 India's Richest List) </small>
}}

'''B.R Shetty''' is an Indian-born businessman who is the founder and acquirer of a number of companies based in the United Arab Emirates, including [[Abu Dhabi]]-based [[NMC Health]],<ref name=national/><ref name="Indian Rich List in full - ArabianBusiness.com"/> Neopharma, BRS Ventures, and [[Finablr]].<ref>{{cite web| url=http://businessworld.in/article/-I-Want-To-Be-The-No-1-Healthcare-Provider-In-India-Over-The-Next-10-Years-/23-03-2018-144373/| title=I Want To Be The No. 1 Healthcare Provider in India Over The Next 10 Years| author=Paramita Chatterjee, Suman K Jha| date=23 March 2018| publisher=BusinessWorld| access-date=8 May 2018| archive-url=https://web.archive.org/web/20180509012947/http://businessworld.in/article/-I-Want-To-Be-The-No-1-Healthcare-Provider-In-India-Over-The-Next-10-Years-/23-03-2018-144373/| archive-date=9 May 2018|url-status = live}}</ref><ref>{{cite web| url=https://www.forbesmiddleeast.com/en/billionaire-b-r-shetty-launches-new-financial-firms-holding-company-finablr/| title=Billionaire B.R. Shetty Launches New Financial Firms Holding Company Finablr| author=Mary Sophia| date=24 April 2018| work=Forbes Middle East| access-date=24 August 2018| archive-url=https://web.archive.org/web/20180825073919/https://www.forbesmiddleeast.com/en/billionaire-b-r-shetty-launches-new-financial-firms-holding-company-finablr/| archive-date=25 August 2018|url-status = live}}</ref> Shetty's initial interest in 1975 was in hospitals and hospitality and has since diversified into pharmaceuticals, financial services, retail, advertising and information technology.<ref name="Indian Rich List in full - ArabianBusiness.com">{{cite web | url=http://www.arabianbusiness.com/indian-rich-list-in-full-342165.html#.V3JIbLh9600 | title=Indian Rich List in full - ArabianBusiness.com | publisher=ArabianBusiness | access-date=28 June 2016 | archive-url=https://web.archive.org/web/20160424235811/http://www.arabianbusiness.com/indian-rich-list-in-full-342165.html#.V3JIbLh9600 | archive-date=24 April 2016 |url-status = live}}</ref> He was included on the ''[[Forbes]]'' list of India's 100 Richest People in 2015 and was listed as the 42nd richest person in 2020.<ref>{{cite web| url=https://www.forbes.com/profile/br-shetty/| title=#47 B.R. Shetty| work=Forbes| access-date=14 April 2017| archive-url=https://web.archive.org/web/20161228013207/http://www.forbes.com/profile/br-shetty/| archive-date=28 December 2016|url-status = live}}</ref><ref>{{cite web| url=https://www.forbes.com/profile/br-shetty/#6862cc8b6cc7| title=#42 B.R. Shetty| work=Forbes| access-date=20 February 2020| archive-url=https://web.archive.org/web/20190514112322/https://www.forbes.com/profile/br-shetty/#6862cc8b6cc7| archive-date=14 May 2019| url-status=live}}</ref>

In 2020, Shetty resigned from his board position while investigations were underway.<ref>{{cite web |url=https://www.ndtv.com/india-news/how-indian-billionaire-bavaguthu-raghuram-shetty-who-owned-2-floors-of-burj-khalifa-went-bust-2182896 |title=How Indian billionaire Bavaguthu Raghuram Shetty went bust |access-date=9 April 2020 |archive-url=https://web.archive.org/web/20200222042050/https://www.ndtv.com/india-news/how-indian-billionaire-bavaguthu-raghuram-shetty-who-owned-2-floors-of-burj-khalifa-went-bust-2182896 |archive-date=22 February 2020 |url-status=live }}</ref><ref>{{cite web |url=https://www.arabianbusiness.com/healthcare/440371-billionaire-br-shetty-resigns-from-abu-dhabis-nmc-health |title=Billionaire BR Shetty resigns from Abu Dhabi's NMC Health |access-date=9 April 2020 |archive-url=https://web.archive.org/web/20200218191350/https://www.arabianbusiness.com/healthcare/440371-billionaire-br-shetty-resigns-from-abu-dhabis-nmc-health |archive-date=18 February 2020 |url-status=live }}</ref> On April 8, 2020, NMC Health went into Administration in UK due corporate governance concerns and a falling share price.<ref>{{cite web |url=https://finance.yahoo.com/news/nmc-insolvency-proceedings-inevitable-hospital-143125949.html |title=NMC into Administration |access-date=9 April 2020 |archive-url=https://web.archive.org/web/20200411094227/https://finance.yahoo.com/news/nmc-insolvency-proceedings-inevitable-hospital-143125949.html |archive-date=11 April 2020 |url-status=live }}</ref> Due to sharp drops in share prices and shares pledged by Shetty to pay for debts incurred, it is believed that his net worth has fallen to a fraction of the earlier estimate of $3.5 billion.<ref>{{cite web| url=https://gulfbusiness.com/uae-based-br-shettys-fortune-drops-1-5bn-since-muddy-waters-attack/| title=BR Shetty's fortune drops by $1.5 Billion| date=26 January 2020| access-date=9 April 2020| archive-url=https://web.archive.org/web/20200406135913/https://gulfbusiness.com/uae-based-br-shettys-fortune-drops-1-5bn-since-muddy-waters-attack/| archive-date=6 April 2020| url-status=live}}</ref> Consequently, Forbes dropped Shetty from its 2020 annual list of billionaires.<ref>{{Cite web|title=Former Indian Billionaire's Gulf Dream Turns Sour|url=https://www.forbes.com/sites/meghabahree/2020/05/12/former-indian-billionaires-gulf-dream-turns-sour/|last=Bahree|first=Megha|website=Forbes|language=en|access-date=2020-05-17}}</ref>

On 15 April 2020, Abu Dhabi Commercial Bank filed a criminal complaint against NMC Health with the Attorney General's Office of UAE.<ref>{{Cite news|url=https://www.reuters.com/article/us-nmc-health-adcb-crime-idUSKCN21X1BY|title=ADCB files criminal complaint against individuals over NMC Health|date=2020-04-15|work=Reuters|access-date=2020-04-16|language=en|archive-url=https://web.archive.org/web/20200415222053/https://www.reuters.com/article/us-nmc-health-adcb-crime-idUSKCN21X1BY|archive-date=15 April 2020|url-status=live}}</ref><ref>{{Cite web|url=https://www.khaleejtimes.com/business/corporate/nmcs-br-shetty-5-others-face-fraud-forgery-charges|title=NMC's BR Shetty, 5 others face fraud, forgery charges|last=John|first=Issac|website=Khaleej Times|language=en|access-date=2020-04-16|archive-url=https://web.archive.org/web/20200416183458/https://www.khaleejtimes.com/business/corporate/nmcs-br-shetty-5-others-face-fraud-forgery-charges|archive-date=16 April 2020|url-status=live}}</ref> Now, Indian agencies have initiated probe to identify potential risks to Indian banks, if any.<ref>{{Cite web|url=https://newsd.in/after-cases-in-uae-b-r-shetty-on-radar-of-indian-probe-agencies/|title=After cases in UAE, BR Shetty on radar of Indian probe agencies|date=2020-04-16|website=News and Analysis from India. A Refreshing approach to news.|language=en-US|access-date=2020-04-19|archive-url=https://web.archive.org/web/20200424114137/https://newsd.in/after-cases-in-uae-b-r-shetty-on-radar-of-indian-probe-agencies/|archive-date=24 April 2020|url-status=live}}</ref> On 27 April 2020, the Central Bank of UAE ordered the freezing of his accounts and the blacklisting of his firms. Although, Shetty has been portrayed as guilty in the media, it is still unknown and theories suggest that upper management made decisions and deals without his knowledge. Shetty has not been proven guilty as of now.

==Early life==
Shetty was born in [[bunt, Karnataka|bunt]], [[Udupi]] to [[Tulu language|Tulu]]-speaking parents Shambhu Shetty and Koosamma Shetty on 1 August 1942 to an ethnic [[Tuluva]] family.<ref name = "Mangalorean Tuluva">{{cite web |url=http://www.mangaloretoday.com/gulfnews/Mangalorean-Tuluva-B-R-Shetty-buys-Travelex-for-1-billion.html |title=Mangalorean Tuluva B R Shetty Buy's Travelex for 1 billion |date=14 June 2015 |access-date=12 October 2016 |archive-url=https://web.archive.org/web/20170802204342/http://www.mangaloretoday.com/gulfnews/Mangalorean-Tuluva-B-R-Shetty-buys-Travelex-for-1-billion.html |archive-date=2 August 2017 |url-status = live}}</ref> Shetty completed his pharmaceutical education from Manipal in [[India]] and also served as the Vice-Chairman of the Municipal Council in Udupi. He married Chandrakumari Shetty and has four children.<ref name="Journey - Dr. B. R. Shetty">{{cite web | url=http://www.brshetty.com/journey/ | title=Journey – Dr. B. R. Shetty | access-date=28 June 2016 | archive-url=https://web.archive.org/web/20160614205457/http://www.brshetty.com/journey/ | archive-date=14 June 2016 |url-status = live}}</ref>

==Career==

Shetty immigrated to the UAE in the year 1973. After working as the country's first medical representative,<ref name=national/> he founded [[NMC Health|New Medical Centre Health]] (NMC) in 1975 to fill the need for personalized, cost-effective healthcare accessible to all.<ref name=national/><ref name=namma>{{cite web| url=http://namma.tv/dr-b-r-shetty-to-build-abu-dhabis-first-medical-university-in-honour-of-sheikh-zayed/| title=Dr B.R.Shetty to build Abu Dhabi's first medical university in honour of Sheikh Zayed| date=24 June 2016| publisher=NamMa TV| access-date=2 May 2017| archive-url=https://web.archive.org/web/20170802174516/http://namma.tv/dr-b-r-shetty-to-build-abu-dhabis-first-medical-university-in-honour-of-sheikh-zayed/| archive-date=2 August 2017|url-status = live}}</ref> At that time, his wife was the only doctor in the clinic.<ref name=emi/> NMC is now the largest private healthcare provider in the UAE with over four million patients annually across 45 facilities spread over 12 cities and 8 countries, including [[UAE]], [[KSA]], [[Oman]], [[Spain]], [[Italy]], [[Denmark]], [[Colombia]], and [[Brazil]]. It is the first healthcare company from the Gulf Cooperation Countries (GCC) and the first company from Abu Dhabi to be listed on the premium segment of the [[London Stock Exchange]] and was part of the coveted [[FTSE 100 Index]].<ref>{{cite news|url=https://www.telegraph.co.uk/business/2017/09/02/gulf-private-hospitals-group-nmc-eyes-uk-launch-leap-ftse-100/|title=Gulf private hospitals group NMC eyes UK launch after leap into FTSE 100|newspaper=The Telegraph|date=2 September 2017|access-date=24 September 2017|first=Iain|last=Withers|archive-url=https://web.archive.org/web/20170913030605/http://www.telegraph.co.uk/business/2017/09/02/gulf-private-hospitals-group-nmc-eyes-uk-launch-leap-ftse-100/|archive-date=13 September 2017|url-status = live}}</ref> Consequent to the request from the NMC board of directors and an on-going investigation of potential financial irregularities, the company was de-listed from London Stock Exchange and was removed from FTSE 100 index.

Shetty managed to take over the ownership of [[UAE Exchange]] from its founder Daniel Varghese in 1980 with the help of an Emirati and a former UAE Minister of Justice, Abdulla Humaid Al Mazroei. UAE Exchange was founded by Daniel Varghese in an attempt to ease the process of sending money by the expats to their families in their respective home countries. By 2016, it had expanded into over 31 countries and had approximately 800 direct offices. In 2014, it did over US$50 billion collectively in money remittance and exchange volumes.<ref name=emi>{{cite web| url=http://www.emirates247.com/news/emirates/dubai-dreams-from-jobless-medical-rep-to-billions-br-shetty-2016-08-10-1.638590| title=Dubai Dreams: From jobless medical rep to billions - BR Shetty| author=VM Sathish| date=10 August 2016| publisher=Emirates 24/7| access-date=2 May 2017| archive-url=https://web.archive.org/web/20170606205018/http://www.emirates247.com/news/emirates/dubai-dreams-from-jobless-medical-rep-to-billions-br-shetty-2016-08-10-1.638590| archive-date=6 June 2017|url-status = live}}</ref> Shetty acquired [[Travelex]], a major foreign exchange company, in 2014.<ref name=national>{{cite web| url=http://www.thenational.ae/business/industry-insights/economics/br-shetty-the-astute-businessman-who-turned-8-into-1bn#full| title=BR Shetty, the astute businessman who turned $8 into $1bn| author=Frank Kane| date=1 July 2014| publisher=The National| access-date=2 May 2017| archive-url=https://web.archive.org/web/20170428185222/http://www.thenational.ae/business/industry-insights/economics/br-shetty-the-astute-businessman-who-turned-8-into-1bn#full| archive-date=28 April 2017|url-status = live}}</ref><ref name=khal/> Travelex has a global footprint including 1500 stores and 1300 ATMs across 27 countries. In December 2020 it was announced that Shetty had agreed to sell his majority stake in [[Finablr]], the parent group for [[UAE Exchange]] and [[Travelex]], to Prism Group AG and Royal Strategic Partners, a UAE linked investment fund.<ref>[https://www.ft.com/content/7831e992-7eb4-4b67-ae55-f8fd86279dd5 UAE-Israeli partnership agrees deal to buy Finablr] Financial Times, Simeon Kerr, Mehul Srivastava and Cynthia O’Murchu, 17 December 2020</ref>

In 2003, Shetty founded NMC Neopharma, a UAE-based pharmaceutical manufacturer.<ref name=emi/> Inaugurated by the then President of India, [[A. P. J. Abdul Kalam]] in Abu Dhabi, Neopharma is centered on using the concept of modular manufacturing following global benchmarks in manufacturing technology and putting in place efficient control mechanisms. Neopharma has a research and development wing and works to provide quality medicines at affordable prices. The company also contracts manufacturing for international pharmaceutical companies as well as generic brands for companies including, but not limited to, [[Merck Group|Merck]], [[Pfizer]], [[AstraZeneca]], and [[Boots UK]].<ref name=emi/>

In 2012, Shetty led NMC through an [[initial public offering|IPO]] on the [[London Stock Exchange]], which raised $330 million. The funds went towards building a specialty hospital in [[Khalifa City]], Abu Dhabi.<ref name=gulfnews>{{cite web| url=http://gulfnews.com/business/sectors/general/dr-b-r-shetty-to-expand-his-nmc-group-in-uae-and-gcc-1.1400467| title=Dr B.R. Shetty to expand his NMC group in UAE and GCC| author=Fareed Rahman| date=18 October 2014| publisher=Gulf News| access-date=2 May 2017| archive-url=https://web.archive.org/web/20161006162305/http://gulfnews.com/business/sectors/general/dr-b-r-shetty-to-expand-his-nmc-group-in-uae-and-gcc-1.1400467| archive-date=6 October 2016|url-status = live}}</ref>

In June 2016, Shetty announced that he was building the first medical university in Abu Dhabi in honor of [[Zayed bin Sultan Al Nahyan|Sheikh Zayed]].<ref name=namma/> That same month, he was elected to be chairman of the Indian Business/Professional Group.<ref>{{cite web| url=http://www.bfirst.in/news/diaspora/8815/br-shetty-wants-promote-india-uae-ties-through-ibpg| title=BR Shetty wants to promote India-UAE ties through IBPG| date=7 June 2016| publisher=Bfirst| access-date=2 May 2017| archive-url=https://web.archive.org/web/20170925083522/http://www.bfirst.in/news/diaspora/8815/br-shetty-wants-promote-india-uae-ties-through-ibpg| archive-date=25 September 2017| url-status=dead}}</ref> In August 2016, Shetty announced that he was building a 400-bed super-specialty hospital in Udupi in Karnataka through B R S Ventures.<ref>{{cite web| url=https://www.mangalorean.com/dr-br-shetty-build-400-bed-super-speciality-hospital-udupi/| title=Dr BR Shetty to Build 400-bed Super-specialty hospital in Udupi| date=25 August 2016| publisher=Mangalorean| access-date=2 May 2017| archive-url=https://web.archive.org/web/20170925132051/https://www.mangalorean.com/dr-br-shetty-build-400-bed-super-speciality-hospital-udupi/| archive-date=25 September 2017|url-status = live}}</ref> Shetty also owned a hospital in [[Alexandria]], two hospitals in Nepal, and acquired a hospital in Cairo as part of his personal portfolio under the same company.<ref name=gulfnews/>

In August 2019, BRS Ventures announced plans to invest $5 billion in developing healthcare facilities across India.<ref>{{cite web | url=https://www.businesstoday.in/current/corporate/jang-sangh-hand-billionaire-b-r-shetty-5-billion-dollar-investments-in-indian-healthcare/story/373353.html | title=Old Jan Sangh hand, billionaire B R Shetty plans $5 billion investment in Indian healthcare | publisher=Business Today | access-date=25 August 2019 | archive-url=https://web.archive.org/web/20190825084836/https://www.businesstoday.in/current/corporate/jang-sangh-hand-billionaire-b-r-shetty-5-billion-dollar-investments-in-indian-healthcare/story/373353.html | archive-date=25 August 2019 |url-status = live}}</ref>

In February 2020, [[Bloomberg News]] report cast doubts on his real holding amidst the short-selling of NMC Health by [[Muddy Waters Research]]<ref>{{cite web | url=https://economictimes.indiatimes.com/news/international/business/a-jet-setting-billionaire-had-it-all-then-carson-block-came-along/articleshow/74204580.cms|title=Jet-setting billionaire Bavaguthu Raghuram Shetty had it all. Then Carson Block came along| publisher=Bloomberg| access-date= 20 February 2020}}</ref> Also in February 2020, Shetty was ousted from the NMC Health board following a corporate governance scandal over his holdings in the company.<ref>{{Cite news|last=Correspondent|first=Ben Martin, Senior City|url=https://www.thetimes.co.uk/article/nmcs-founder-forced-out-over-shares-scandal-cr59jz2s6|title=NMC's founder forced out over shares scandal|newspaper=[[The Times]]|access-date=2020-02-25|language=en|issn=0140-0460|archive-url=https://web.archive.org/web/20200225043004/https://www.thetimes.co.uk/article/nmcs-founder-forced-out-over-shares-scandal-cr59jz2s6|archive-date=25 February 2020|url-status=live}}</ref>

On April 8, 2020, NMC went into Administration in UK due to insolvency of the company.<ref>{{Cite web|url=https://finance.yahoo.com/news/nmc-insolvency-proceedings-inevitable-hospital-143125949.html|title=NMC Heads to Administration After Giving In to Creditor Demands|website=finance.yahoo.com|access-date=9 April 2020|archive-url=https://web.archive.org/web/20200411094227/https://finance.yahoo.com/news/nmc-insolvency-proceedings-inevitable-hospital-143125949.html|archive-date=11 April 2020|url-status=live}}</ref>

== Philanthropy ==
In May 2018, Shetty along with three other Abu Dhabi-based business tycoons signed [https://givingpledge.org/About.aspx The Giving Pledge] [https://www.forbesmiddleeast.com/industry/business/uae-billionaire-b-r-shetty-joins-the-gates-buffet-giving-pledge-donates-half-his-wealth Forbes Article]

==Other activities==
B.R. Shetty was an activist of the erstwhile Jan Sangh, the predecessor to the BJP before he went to the UAE. Shetty had played a key role in organizing a visit of Modi to Abu Dhabi.<ref>{{Cite web|url=https://www.theweek.in/news/biz-tech/2020/04/27/more-trouble-for-b-r-shetty-uae-to-freeze-assets-of-richest-kannadiga.html|title=More trouble for B.R. Shetty; UAE to freeze assets of 'richest Kannadiga'|website=The Week|language=en|access-date=2020-04-27}}</ref> Shetty has invested in a medical institution in the north Indian state of Uttarakhand. He is the founder and patron of the Indian Pharmaceutical Association in the Emirates and is a member of the Advisory Board (Financial Sector), Economic Department, Government of Dubai, UAE, and the Pharmaceutical Committee, Dubai. He was the chairman of [[Abu Dhabi Indian School]], Abu Dhabi Indian School-Branch 1, Al Wathba, and Bright Riders School till 2019. His position in Abu Dhabi Indian School and Abu Dhabi Indian School-Branch 1, Al Wathba was taken up by the UAE-based Indian [[billionaire]] [[M. A. Yusuff Ali|Yusuff Ali M.A.]]<ref name="Indian tycoons storm Arabian Business Expat Power List 2011 - ArabianBusiness.com">{{cite web | url=http://www.arabianbusiness.com/indian-tycoons-storm-arabian-business-expat-power-list-2011-383132.html#.V3JKfbh9600 | title=Indian tycoons storm Arabian Business Expat Power List 2011 - ArabianBusiness.com | publisher=ArabianBusiness | access-date=28 June 2016 | archive-url=https://web.archive.org/web/20160815070908/http://www.arabianbusiness.com/indian-tycoons-storm-arabian-business-expat-power-list-2011-383132.html#.V3JKfbh9600 | archive-date=15 August 2016 |url-status = live}}</ref>

In August 2015, Shetty was elected as the chairman to the board of directors of UAE Exchange.<ref name=khal>{{cite web|url=http://www.khaleejtimes.com/business/local/dr-br-shetty-takes-over-as-chairman-of-uae-exchange|title=Dr B.R. Shetty takes over as chairman of UAE Exchange|work=Khaleej Times|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424085905/http://www.khaleejtimes.com/business/local/dr-br-shetty-takes-over-as-chairman-of-uae-exchange|archive-date=24 April 2017|url-status = live}}</ref><ref>{{cite news|url=http://economictimes.indiatimes.com/markets/stocks/news/uae-exchange-appoints-b-r-shetty-as-chairman-promoth-manghat-as-ceo/articleshow/48652739.cms|title=UAE Exchange appoints B R Shetty as Chairman, Promoth Manghat as CEO|newspaper=The Economic Times|date=24 August 2015|publisher=Economic Times India|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424090633/http://economictimes.indiatimes.com/markets/stocks/news/uae-exchange-appoints-b-r-shetty-as-chairman-promoth-manghat-as-ceo/articleshow/48652739.cms|archive-date=24 April 2017|url-status = live}}</ref> He was named chairman of The Indian Business/Professional Group in June 2016.<ref>{{cite web|url=http://www.newskarnataka.com/nri/dr-b-r-shetty-to-head-the-indian-businessprofessional-group|title=Dr B R Shetty to head The Indian Business/Professional Group|publisher=News Karnataka|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424085646/http://www.newskarnataka.com/nri/dr-b-r-shetty-to-head-the-indian-businessprofessional-group|archive-date=24 April 2017|url-status = live}}</ref> Sheikh Mohammed bin Rashid al Maktoum nominated Shetty as a member of the UAE medical council in September 2016.<ref>{{cite web|url=http://m.bfirst.in/news/2016_09_09/12860|title=Businessman BR Shetty nominated to medical council by PM of Dubai|publisher=Bfirst}}{{Dead link|date=October 2019 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

In April 2017, Shetty announced that he would invest Rs 1000 crore ($157.3 million) to produce a film with director [[V. A. Shrikumar Menon]]. The film, starring [[Mohanlal]], was to be based on the novel [[Randamoozham]], a retelling of [[Mahabharata]].<ref>{{cite news|title=Billionaire B. R. Shetty aims for $1 billion in revenue from Indian film epic|url=https://in.reuters.com/article/nmc-health-shetty-film/billionaire-b-r-shetty-aims-for-1-billion-in-revenue-from-indian-film-epic-idINKBN18V0SR|access-date=28 January 2018|archive-url=https://web.archive.org/web/20171027181423/https://in.reuters.com/article/nmc-health-shetty-film/billionaire-b-r-shetty-aims-for-1-billion-in-revenue-from-indian-film-epic-idINKBN18V0SR|archive-date=27 October 2017|url-status = live}}</ref>
In May 2019, however, the film was shelved due to creative issues.<ref>{{cite news|title=Mohanlal's Rs 1000 crore film project 'Randamoozham' shelved|url=https://www.newindianexpress.com/entertainment/malayalam/2019/apr/03/mohanlals-rs-1000-crore-film-project-randamoozham-shelved-1959795.html|access-date=20 February 2020|archive-url=https://web.archive.org/web/20190805223955/http://www.newindianexpress.com/entertainment/malayalam/2019/apr/03/mohanlals-rs-1000-crore-film-project-randamoozham-shelved-1959795.html|archive-date=5 August 2019|url-status=live}}</ref>

== Awards and recognition ==
{{Overly detailed|Section|date=February 2020}}
In 2005, Shetty was awarded the highest civilian distinction in the Emirate, the [[Abu Dhabi Awards]].<ref>{{cite news | url = https://www.thenational.ae/uae/abu-dhabi-awards-b-r-shetty-1.119120 | title = Abu Dhabi Awards: B R Shetty | date = 23 May 2015 | work = The National | access-date = 23 September 2019 | archive-url = https://web.archive.org/web/20190923071607/https://www.thenational.ae/uae/abu-dhabi-awards-b-r-shetty-1.119120 | archive-date = 23 September 2019 | url-status = live }}</ref> Given by Sheikh [[Mohammed bin Zayed Al Nahyan]], the Crown Prince of Abu Dhabi, the first year the distinction was awarded.<ref>{{cite web|url=http://www.thenational.ae/uae/abu-dhabi-awards-b-r-shetty|title=Abu Dhabi Awards: B R Shetty|publisher=The National|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170422235344/http://www.thenational.ae/uae/abu-dhabi-awards-b-r-shetty|archive-date=22 April 2017|url-status = live}}</ref> Also in 2005, U.S. India Friendship Society presented Shetty the Distinguished Entrepreneur Award.<ref>{{cite web|url=http://www.neopharmauae.com/en/news.asp?News_Id=173-Dr.-B.R.-Shetty-received-The-Distinguished-Entrepreneur-Award-from-the-US-India-Friendship-Society-|title=Dr. B.R. Shetty received The Distinguished Entrepreneur Award from the US India Friendship Society|publisher=Neopharma|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424173745/http://www.neopharmauae.com/en/news.asp?News_Id=173-Dr.-B.R.-Shetty-received-The-Distinguished-Entrepreneur-Award-from-the-US-India-Friendship-Society-|archive-date=24 April 2017|url-status = dead}}</ref>

The Indian government gave Shetty the [[Pravasi Bharatiya Samman]] awwrd in 2007.<ref name="The recipients of Pravasi Bharatiya Samman - Times of India">{{cite web | url=http://timesofindia.indiatimes.com/india/The-recipients-of-Pravasi-Bharatiya-Samman/articleshow/1113368.cms | title=The recipients of Pravasi Bharatiya Samman – Times of India | work=Times of India| access-date=28 June 2016}}</ref><ref name="New Delhi B R Shetty Among Padma Shree Awardees">{{cite web | url=http://www.daijiworld.com/news/news_disp.asp?n_id=56080 | title=New Delhi B R Shetty Among Padma Shree Awardees | publisher=Daijiworld Media Pvt Ltd Mangalore | access-date=28 June 2016 | archive-url=https://web.archive.org/web/20160303170744/http://www.daijiworld.com/news/news_disp.asp?n_id=56080 | archive-date=3 March 2016 |url-status = live}}</ref> Shetty received the [[Padma Shri]] awarded by the [[President of India]] in 2009.<ref name="IBPC Felicitates Padma Shri Award Winners - Khaleej Times">{{cite web | url=http://www.khaleejtimes.com/business/local/ibpc-felicitates-padma-shri-award-winners | title=IBPC Felicitates Padma Shri Award Winners – Khaleej Times | work=Khaleej Times| access-date=28 June 2016 | archive-url=https://web.archive.org/web/20160808123305/http://www.khaleejtimes.com/business/local/ibpc-felicitates-padma-shri-award-winners | archive-date=8 August 2016 |url-status = live}}</ref>

In July 2011, he received the Asian Achievers Award from the Human Achievers Foundation.<ref>{{cite web|url=http://www.khaleejtimes.com/article/20110713/ARTICLE/307139999/1002|title=Asian Achievers Awards for Dhahi Khalfan, others|work=Khaleej Times|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424174100/http://www.khaleejtimes.com/article/20110713/ARTICLE/307139999/1002|archive-date=24 April 2017|url-status = live}}</ref>

In September 2012, Pharma Leaders founded by Satya Brahma declared Shetty as Global Indian of the Year along with [[Kiran Mazumdar-Shaw|Kiran Mazumdar Shaw]] at 5th Annual Pharmaceutical Leadership Summit & Pharma Leaders Business Leadership Awards 2012 in Mumbai.<ref>{{Cite web|url=http://pharmaleaders.tv/biocon-chief-dr-kiran-majumdar-shaw-nmc-chief-dr-b-r-shetty-declared-global-indian-of-the-year-2/|title=Biocon Chief Dr. Kiran Majumdar Shaw & NMC Chief Dr B.R.Shetty Declared Global Indian of the Year {{!}} Pharmaleaders TV|website=pharmaleaders.tv|language=en-US|access-date=2017-10-24|archive-url=https://web.archive.org/web/20171024205347/http://pharmaleaders.tv/biocon-chief-dr-kiran-majumdar-shaw-nmc-chief-dr-b-r-shetty-declared-global-indian-of-the-year-2/|archive-date=24 October 2017|url-status = live}}</ref>

In 2013, Shetty was recognized as one of Asia's most promising leaders at the Asian Brand & Leadership Summit.<ref>{{cite web|url=http://www.daijiworld.com/news/newsDisplay.aspx?newsID=189157|title=UAE Exchange named leader, most promising brand in Asia|publisher=Daiji World|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424085721/http://www.daijiworld.com/news/newsDisplay.aspx?newsID=189157|archive-date=24 April 2017|url-status = live}}</ref> In March 2013, he was awarded the International Achievers Summit's Lifetime Achievement Award.<ref>{{cite web|url=http://www.nmctrading.com/dr-b-r-shetty-receives-lifetime-achievement-award/|title=Dr. B.R. Shetty receives Lifetime Achievement Award|publisher=NMC Trading|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424174516/http://www.nmctrading.com/dr-b-r-shetty-receives-lifetime-achievement-award/|archive-date=24 April 2017|url-status = live}}</ref> That same year, Shetty received the Asian Business Leadership Forum India-UAE Business Icons Award.<ref>{{cite web|url=http://www.ablfawards.com/2013-winners/|title=ABLF Awards 2013 Winners|publisher=ABLF|access-date=23 April 2017|archive-url=https://web.archive.org/web/20161211033716/http://www.ablfawards.com/2013-winners/|archive-date=11 December 2016|url-status = dead}}</ref> He also received the 2013 Frost & Sullivan Lifetime Achievement Award.<ref>{{cite web|url=http://www.frost.com/prod/servlet/press-release.pag?docid=291322634|title=Dr. B R Shetty honoured with Frost & Sullivan - Lifetime Achievement Award for the Year 2013|publisher=Frost & Sullivan|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170425031103/https://www.frost.com/prod/servlet/press-release.pag?docid=291322634|archive-date=25 April 2017|url-status = live}}</ref>

In 2014, Forbes Middle East recognized Shetty with the Top Indian Leaders in the UAE Award.<ref>{{cite web|url=https://www.forbesmiddleeast.com/forbes-middle-east-unveils-top-indian-leaders-in-the-arab-region|title=Forbes Middle East Reveals Top Indian Leaders in the Arab World|website=Forbes Middle East}}</ref> He also received the Lakshya Business Visionary Award in 2014.<ref>{{cite web|url=http://www.rediff.com/getahead/report/achievers-from-salesman-to-biz-tycoon-a-serial-entrepreneurs-success-mantras/20141105.htm|title=From salesman to biz tycoon: A serial entrepreneur's success mantras|publisher=Rediff|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424173734/http://www.rediff.com/getahead/report/achievers-from-salesman-to-biz-tycoon-a-serial-entrepreneurs-success-mantras/20141105.htm|archive-date=24 April 2017|url-status = live}}</ref> That same year, Shetty was recognized with the International Achievement Award at the Indian Innovator Awards.<ref>{{cite web|url=https://issuu.com/entmagazineme/docs/entrepreneur_middle_east_january_20|title=Indian Innovator Awards 2014|publisher=Entrepreneur Middle East|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424173725/https://issuu.com/entmagazineme/docs/entrepreneur_middle_east_january_20|archive-date=24 April 2017|url-status = live}}</ref>

In February 2015, the Indian Club - Bahrain recognized Shetty with a Centenary Award.<ref>{{cite web|url=http://www.daijiworld.com/news/newsDisplay.aspx?newsID=295424|title=Bahrain : Dr Kalam presents Indian Club Centenary awards to Colaco, B R Shetty|publisher=Daiji World|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424085429/http://www.daijiworld.com/news/newsDisplay.aspx?newsID=295424|archive-date=24 April 2017|url-status = live}}</ref> He received the Deal of the Year Award at the 2015 Indian CEO Awards.<ref>{{cite web|url=http://www.arabianbusiness.com/sunil-vaswani-takes-top-honours-at-indian-ceo-awards-582410.html|title=Sunil Vaswani takes top honours at Indian CEO Awards|publisher=Arabian Business|access-date=23 April 2017|archive-url=https://web.archive.org/web/20171008135040/http://www.arabianbusiness.com/sunil-vaswani-takes-top-honours-at-indian-ceo-awards-582410.html|archive-date=8 October 2017|url-status = live}}</ref> In June 2015, Shetty received the Business Personality of the Year award from Crowe Horwath International.<ref>{{cite web|url=http://www.nmchealth.com/dr-b-r-shetty-has-received-the-prestigious-business-personality-of-the-year-award/|title=Dr. B.R. Shetty has received the prestigious Business Personality of the Year award|publisher=NMV Health|access-date=23 April 2017|archive-url=https://web.archive.org/web/20150805020024/http://www.nmchealth.com/dr-b-r-shetty-has-received-the-prestigious-business-personality-of-the-year-award/|archive-date=5 August 2015|url-status = dead}}</ref> That same month, Shetty received the Arabian Indian Czars award.<ref>{{cite web|url=http://articles.economictimes.indiatimes.com/2015-06-18/news/63567767_1_fadnavis-sunil-vaswani-rizwan-sajan|title=Arabian Indian Czars Award: Times Now felicitates successful Indians in Middle East|work=The Economic Times|access-date=23 April 2017|archive-url=https://web.archive.org/web/20151018060431/http://articles.economictimes.indiatimes.com/2015-06-18/news/63567767_1_fadnavis-sunil-vaswani-rizwan-sajan|archive-date=18 October 2015|url-status = live}}</ref>

Shetty received the Global Indian Achiever Award in 2015 from Sheikh Nahyan Bin Mubarak al Nahyan.<ref>{{cite web|url=http://www.nmchealth.com/dr-b-r-shetty-honoured-global-indian-achiever-award/|title=Dr. B R Shetty honoured with Global Indian Achiever Award|publisher=NMC Health|access-date=23 April 2017|archive-url=https://web.archive.org/web/20171031042109/http://www.nmchealth.com/dr-b-r-shetty-honoured-global-indian-achiever-award/|archive-date=31 October 2017|url-status = dead}}</ref> Also in 2015, Prince Faisal Bin Saud Bin Musaed Bin Abdulaziz presented Shetty with the National Cultural Award.<ref>{{cite web|url=http://www.sauress.com/en/saudigazette/240107|title=Indian tycoon Shetty is honored with National Cultural Award|work=The Saudi Gazette|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424173839/http://www.sauress.com/en/saudigazette/240107|archive-date=24 April 2017|url-status = live}}</ref> Shetty's company, NMC Healthcare, received the Frost & Sullivan Middle East Integrated Healthcare Company of the Year Award in 2015.<ref>{{cite web|url=http://www.worldfinance.com/infrastructure-investment/nmc-guides-the-way-for-the-uaes-healthcare-sector|title=NMC guides the way for the UAE's healthcare sector|publisher=World Finance|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170430214825/http://www.worldfinance.com/infrastructure-investment/nmc-guides-the-way-for-the-uaes-healthcare-sector|archive-date=30 April 2017|url-status = live}}</ref> That same year, MILAAP honored Shetty with a Lifetime Achievement Award.<ref>{{cite web|url=http://www.nmctrading.com/dr-b-r-shetty-receives-lifetime-achievement-award-3/|title=Dr. B.R. Shetty receives Lifetime Achievement Award|publisher=NMC Trading|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424174031/http://www.nmctrading.com/dr-b-r-shetty-receives-lifetime-achievement-award-3/|archive-date=24 April 2017|url-status = live}}</ref>

At the 2015 Gulf Business Industry Awards, Shetty was recognized as the Healthcare Business Leader of the Year.<ref>{{cite web|url=http://gulfbusiness.com/gulf-business-industry-awards-2015-business-leaders-year/|title=Gulf Business Industry Awards 2015: Business Leaders of the Year|date=9 September 2015|publisher=Gulf Business|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424173736/http://gulfbusiness.com/gulf-business-industry-awards-2015-business-leaders-year/|archive-date=24 April 2017|url-status = live}}</ref> In November 2015, he was felicitated by More Ignatius Jacobite Syrian Orthodox Cathedral in Dubai.<ref>{{cite web|url=http://www.brshetty.com/awards/dr-b-r-shetty-felicitated-by-mor-ignatius-jacobite-syrian-orthodox-cathedral/|title=Dr. B.R.Setty Felicitated By Mor Ignatius Jacobite Syrian Orthodox Cathedral, Dubai|publisher=Dr. B. R. Shetty|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424175818/http://www.brshetty.com/awards/dr-b-r-shetty-felicitated-by-mor-ignatius-jacobite-syrian-orthodox-cathedral/|archive-date=24 April 2017|url-status = dead}}</ref> Shetty's NMC Healthcare was recognized at the 6th Middle East Business Leaders Awards in 2015, where Shetty was given the Industry Excellence in Healthcare Award.<ref>{{cite web|url=http://www.khaleejtimes.com/business/local/mebla-honours-industry-leaders|title=Mebla honours industry leaders|work=khaleej Times|access-date=23 April 2017|archive-url=https://web.archive.org/web/20170424085800/http://www.khaleejtimes.com/business/local/mebla-honours-industry-leaders|archive-date=24 April 2017|url-status = live}}</ref>

In 2016, Shetty received the Golden Peacock Lifetime Achievement Award for Business Leadership.<ref>{{cite web|url=http://www.goldenpeacockaward.com/past-winners/individual-leadership-awards.html|title=Roll of Honour|publisher=Golden Peacock Awards|access-date=24 April 2017|archive-url=https://web.archive.org/web/20170424173821/http://www.goldenpeacockaward.com/past-winners/individual-leadership-awards.html|archive-date=24 April 2017|url-status = live}}</ref> Also in 2016, Shetty won the Business Excellence Award from the Indian Business & Professional Council.<ref>{{cite web|url=http://www.nmchealth.com/news/dr-b-r-shetty-honoured-with-business-excellence-award/|title=Dr. B.R. Shetty honoured with Business Excellence Award|publisher=NMC Health|access-date=24 April 2017|archive-url=https://web.archive.org/web/20170424085934/http://www.nmchealth.com/news/dr-b-r-shetty-honoured-with-business-excellence-award/|archive-date=24 April 2017|url-status = dead}}</ref> Middlesex University in Dubai awarded Shetty an Honorary Doctorate in 2016.<ref>{{cite web|url=http://www.mdx.ac.ae/about-us/honorary-doctorates|title=Middlesex Dubai Honorary Graduates|publisher=Middlesex University Dubai|access-date=24 April 2017|archive-url=https://web.archive.org/web/20170424174731/http://www.mdx.ac.ae/about-us/honorary-doctorates|archive-date=24 April 2017|url-status = live}}</ref>

In January 2017, Shetty was honored at the Annual Health Awards with a special award for his contribution to the region's healthcare industry.<ref>{{cite web|url=https://article.wn.com/view/2017/01/23/Dr_B_R_Shetty_honoured_at_the_Annual_Health_Awards_2017_NMC_/|title=Dr. B. R. Shetty honoured at the Annual Health Awards 2017 (NMC Health plc)|publisher=World News|access-date=24 April 2017|archive-url=https://web.archive.org/web/20170424085508/https://article.wn.com/view/2017/01/23/Dr_B_R_Shetty_honoured_at_the_Annual_Health_Awards_2017_NMC_/|archive-date=24 April 2017|url-status = live}}</ref> The following month, Shetty received the Nadaprabhu Kempegowda International Award at the Kempegowda International Festival.<ref>{{cite web|url=http://www.newskarnataka.com/nri/kempegowda-international-festival-lays-emphasis-on-uniting-okkaligas-under-roof|title=Kempegowda International Festival lays emphasis on uniting Okkaligas under roof|publisher=News Karnataka|access-date=24 April 2017|archive-url=https://web.archive.org/web/20170424174146/http://www.newskarnataka.com/nri/kempegowda-international-festival-lays-emphasis-on-uniting-okkaligas-under-roof|archive-date=24 April 2017|url-status = live}}</ref>

In May 2018 Shetty was recognized by Forbes Middle East among the top Indian leaders in the Arab world.<ref>{{cite web|url=https://gulfnews.com/business/revealed-top-indian-business-leaders-in-arab-world-1.2218991|title=Revealed: Top Indian business leaders in Arab world|publisher=Gulf News Business|access-date=25 August 2019|archive-url=https://web.archive.org/web/20190527090500/https://gulfnews.com/business/revealed-top-indian-business-leaders-in-arab-world-1.2218991|archive-date=27 May 2019|url-status = live}}</ref> In September 2018 Shetty received the C3 Lifetime Achievement Award.<ref>{{cite web|url=https://www.prnewswire.com/news-releases/c3-us-arab-healthcare--business-summit-and-title-sponsor-alitheia-holdings-honors-keynote-speaker-dr-br-shetty-with-lifetime-achievement-award-300714982.html|publisher=PR Newswire|access-date=25 August 2019|title=C3 US-Arab Healthcare & Business Summit and Title Sponsor Alitheia Holdings Honors Keynote Speaker Dr. B.R. Shetty with Lifetime Achievement Award|archive-url=https://web.archive.org/web/20190825020538/https://www.prnewswire.com/news-releases/c3-us-arab-healthcare--business-summit-and-title-sponsor-alitheia-holdings-honors-keynote-speaker-dr-br-shetty-with-lifetime-achievement-award-300714982.html|archive-date=25 August 2019|url-status = live}}</ref>

==References==
{{reflist}}

==External links==
* [http://www.brshetty.com/ Official website]

{{Padma Shri Award Recipients in Trade & Industry}}

{{DEFAULTSORT:Shetty, B. R.}}
[[Category:Indian philanthropists]]
[[Category:Mangaloreans]]
[[Category:Tulu people]]
[[Category:Recipients of the Padma Shri in trade and industry]]
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[[Category:People from Udupi district]]
[[Category:Indian emigrants to the United Arab Emirates]]
[[Category:1942 births]]
[[Category:Businesspeople from Karnataka]]
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[[Category:People from Udupi]]
[[Category:Recipients of Pravasi Bharatiya Samman]]

IndianPedia - User contributions [en]

B. R. Shetty