Mangaluru: Exclusive - ‘People I trusted cheated me, will fight back’ - Dr B R Shetty

Daijiworld Media Network – Mangaluru (DV)

Mangaluru, Mar 4: Bavaguthu Raghuram Shetty fondly known as Dr B R Shetty, is an Indian pharmacist, entrepreneur and philanthropist, who strived hard to build healthcare facilities and improve the quality of life for people in the UAE and across the world. His companies span across healthcare, pharmaceutical, financial services, education, hospitality, agribusiness and environmental sectors.

Dr Shetty has won several national and international awards. He received the Padma Shri award in 2009 for his contribution in the field of trade and industry.

In a special interview with Daijiworld editor-in-chief, Walter Nandalike on Daijiworld TV 24*7, Dr Shetty opens up about his life and current issues.


DW: For the past 2.5 years, nearly 10,000 children and 2 lac patients received treatment free of cost from the government of Karnataka at Koosamma Shambhu Shetty Memorial Haji Abdullah Mother and Child Hospital, Udupi. Thanks to your noble initiative. Congratulations to you. When you took the initiative to start the hospital, there was opposition. Even in Udupi, several people opposed it. What do all of them say now?

Shetty: Frankly speaking, I wanted to start this hospital long time ago. When I was the vice-chairman of Udupi Municipal Council, the poor section of the society voted for me. V S Acharya was the president and I was the vice-chairman. In 1972, I did not have a single rupee. But I secured more votes than Acharya and hence he made me the chairman. Then, K K Pai supported me, so I went to Abu Dhabi. With due regards to my father Shambhu Shetty, Pai gave me a loan. He also stated that one day I will shine. Within a year, I repaid the loan which I borrowed from Pai. I never thought that I will clear the loan which I borrowed. Then I felt as if I was the richest man. I do not owe money to anyone. It is a unique feeling.

DW: Now, those who opposed and were against you in Udupi are silent?

Shetty: They are not my opposers.

DW: But they opposed your project?

Shetty: Yes, they had opposed my project. I do not know the reason. I have ten acres of land in Udupi. I would have constructed a hospital there. As a medical representative, I used to go there to market medicines. Once, when I returned from Abu Dhabi, I visited the hospital. The roof tiles were broken. There were pregnant women. Water was leaking from the roof in the operation theatre. After seeing such a situation, I decided to run the hospital and submitted the proposal. The then health minister Ramesh Kumar supported that. As a health minister, he gave permission to run the hospital. In this hospital, everything is free of cost.

DW: During the time of your distress, have you not approached Prime Minister Narendra Modi to help you. Because he is close to you.

Shetty: He is the Prime Minister of India and the leader of the whole world. Why should I approach him for my business? This is my affair. I have never made up my mind to visit him and it is not necessary. I am confident as I have never cheated anyone. I appointed those people and promoted them. I never thought they would do such things to me. Both were charted accountants. I cannot speak against them as the matter is before the court.

DW: To our viewers and to your fans in various countries, could you brief the reality.

Shetty: I am telling the truth. This is my personal affair. Why should I meet the PM? I will handle all the litigation.

DW: How did this problem arise or how did your empire witness such a crisis?

Shetty: Everyone should know the reality. I am opening up here for the first time as I have the proof. My chartered accountants have made fake accounts in my name. People whom I treated like my own children, have done so. They created a fake account in a nationalised bank. They have misused the power of attorney. When accepting papers, the bank manager should have asked me to sign on them right before him. They have deposited the siphoned cash to that account and deposited the cash to their family members and to my staff. The staff including accountants and treasurers were appointed by me. They were silent because cash was paid to them. They were with me for 20 years. Everyone knows that. They are the richest people now due to the stolen money. They may keep cash in any other banks, we have got the money trail. We have the complete records and they have been submitted to the court. When I approached the court in India, there was the problem with jurisdiction. Can you believe that I could not even register a case in India?

DW: When you returned from Abu Dhabi, there was a rumour that B R Shetty fled the country.

Shetty: I left Abu Dhabi on February 4 on a $250 million personal guarantee. I went straight to Varanasi to lay the foundation stone for Sant Kabir Hospital. I was supposed to return to Abu Dhabi on February 7. It is unbelievable how God helped me. My elder brother was at his residence. Fifteen minutes after my flight took off from Delhi to Abu Dhabi, I told my pilot to return. I wanted to go back to Bengaluru to see my brother. He was in Manipal Hospital. I went to the hospital and his condition was serious and deteriorating. He passed away on March 20. It was a time of Covid. We could not bring his mortal remains. His only wish was to take the body to our ancestral house in Kaup. Bengaluru commissioner issued permission orders at the last minute. If I had been to Abu Dhabi, I would not return as it was Covid time then. There were no flights.

DW: This is a tough time. Before this crisis, you were so active.

Shetty: Every day is a challenging one. I am involved in one issue or the other every day due to people who cheated me. They all used fake signatures. Let me tell you, one bank approached me stating that I have taken a loan. But, on the same day, I was in Cairo. There is a hospital in Cairo. My daughter proved it. The judge got annoyed and cancelled the case. Till date, the case has not been heard.

DW: UAE Exchange was your brainchild, but news on it circulated that it was purchased for USD 1, is there any truth in this?

Shetty: Media is known for exaggerating things.

DW: A businessman from Kerala, through a television channel declared that he was behind UAE Exchange in Abu Dhabi. What do you have to say about this?

Shetty: Good question. The businessman you are referring to is Daniel Varghese. A person named Ramchandran Menon who works in Indian Embassy asked me to make him and Moosly Ahmed, who is from Bangladesh, a partner in UAE Exchange. However, since they are government employees (inspectors of the central bank), they are not supposed to indulge in business. Following which they displayed their spouse as partners to siphon funds. Nineteen million was the amount. One of my partners, the former minister of Justice came to me and claimed that I introduced him to them. If partners collapse, the UAE exchange collapses, if the UAE Exchange collapse, NMC will collapse. Hence, paying four million Dirhams in addition. I purchased UAE exchange by giving 24 million Dirhams.

DW: There was news that all your assets have been frozen. How far is this true?

Shetty: Yes. That is true.

DW: You are prepared to return to Abu Dhabi. How did you get the confidence to return?

Shetty: I have confidence because I have not done anything wrong. Rulers in Abu Dhabi also know that I will never do such things. Let us see what the future holds. I am not alarmed at all. I am confident that I will come back stronger than before. In India, I do not have even a rupee loan.

DW: At present what is your role in NMC?

Shetty: I have a minor share in NMC. It is nothing much, it is almost negligible.

DW: What do you have to say about your family and friends who stood beside you during distress?

Shetty: My wife is important to me. She did not question me even once. Her support has boosted my courage and confidence. This situation has put my family in distress but still, they do not question me. They trust me enough and know that I have not done anything.

DW: People are thinking that B R Shetty has lost all the assets which he earned.

Shetty: I am not going to lie but my asset is 1:1.

DW: You had availed a loan to travel to Abu Dhabi, and built an empire. How do you feel when you look back on your growth from decades?

Shetty: The surplus money that I had was invested to start another company. I did it with the intention to generate employment opportunities. I have 50 companies. I keep society first and then my family. If I start a company, I can give employment to youths. I have employed 60,000 people. It is because of their prayers that I still stand strong.

DW: People are enthusiastic to know that though B R Shetty is facing dire situations, how is it that he is still confident? My question is, B R Shetty who was busy for decades, how is he going to spend time in his Bengaluru or Mangaluru residence?

Shetty: I cannot sit idle at home. I keep myself busy with one or the other work. My son would always tell me to stay vigil and I would always advise him to not interfere. He then stopped interfering and I regret not listening to him. In recent times, it is very difficult to trust anybody. I never imagined that I would be deceived. My trust was broken by people who would come to my home, take my blessings. These are those who stole money from me and fabricated stories. They accused me of bribing them with a Bentley car. I did not do any such thing, instead, they gave me the key.

DW: What is your message to budding entrepreneurs?

Shetty: I believe in corporate governance. Not that it is the best form of management. But an entrepreneur should solely focus on the business. Scrutinize the documents that come before you and make sure that other accountants double-check it too. I was approached at times for signature when I was neck-deep in work.

DW: Do you think the trust you vested in certain people proved to be a problem for you?

Shetty: Definitely. I did not trust anyone but the two boys. I had openly referred to them as my two eyes.

DW: People in coastal Karnataka have always seen you as someone who is exuberating with confidence. You have received numerous national and international awards. You are acquainted with famous personalities. What is the message you wish to give your fans?

Shetty: Even today in UAE, students consider me to be an example. I told a girl in New York University at Abu Dhabi that she should take the opportunity to find an opportunity. I came to UAE in search of a job and in the search of a job, I became successful. I was the first outdoor salesman in the country. As a pharmacist, I was the first person to do outdoor selling.

DW: Any message you would like to give to the people of Tulunadu?

Shetty: To my friends and family, have faith. Do not get disappointed with this chapter in my life. I will overcome this victoriously and will be back bigger than before. Life is like ECG, it should go up and down otherwise you cease to be alive. I am grateful to the royal family of Abu Dhabi for their benevolence and support they have given me in all aspects.


Watch Full Interview:






Top Stories

Comment on this article

  • Shankar kotian, Udupi kinnimulki

    Tue, Mar 30 2021

    A great inspiring true honest hardworking, down to earth person, a true dynamic leader will rise again & shall hold the throne with dignity & respect....anna we are with you & our prayers for success

    DisAgree [4] Agree [1] Reply Report Abuse

  • Kusuma Kumari Gunji, Nellore Koyadka

    Fri, Mar 05 2021

    I am sure he will come back / He has done many charity works in Udupi by helping the poor by constructing the Hospital for the poor May God bless him

    DisAgree [5] Agree [5] Reply Report Abuse

  • s shetty, tulunaad

    Fri, Mar 05 2021

    Tulu Language is not yet official in India, even your place Kapu is called Kaup... Va Tulu Pudarla official ejji, daala malpule sir, pls

    DisAgree [2] Agree [7] Reply Report Abuse

  • Vincie and Daphne Rodrigues, Thottam / Canada

    Fri, Mar 05 2021

    The interview of Dr. B. R. Shetty by Walter brought out the expected good news of the esteem entrepreneur and successful business man of great reputation. May Dr. Shetty’s personality bring back successful events of celebrated life. He is an excellent example of hardworking person who has shared his success truthfully and brought recognition to his personality. Wishing you God’s Blessings and continued good health for the future. Thank you Walter for bringing this interview with your usual skill and respectful information. Keep up the good work.

    DisAgree [6] Agree [2] Reply Report Abuse

  • Valson Mendonsa, Mangalore/USA

    Fri, Mar 05 2021

    GREAT Icon of South Kanara, One should be proud of his progressive achievements.. Reaching to this great creative heights in global level is not a joke in this most competitive world... “God Blessed You Abundantly Mr. Shetty !! and “ he will take care of you from this mess” Again!! this is same old story.. Mouse is Stealing -&- Elephant got caught middle because Elephant is wide visible even in dark light.. Itz that simple

    DisAgree [4] Agree [5] Reply Report Abuse

  • Lenson, Udupi/Nairobi

    Fri, Mar 05 2021

    All the best and come out clean of all issues

    DisAgree [5] Agree [4] Reply Report Abuse

  • s shetty, tulunaad

    Fri, Mar 05 2021

    wish you good luck sir, do something for Tulu and Tulunaad pls.

    DisAgree [12] Agree [7] Reply Report Abuse

  • Dorothy, Mangalore

    Fri, Mar 05 2021

    Salute you Sir for providing jobs and feeding so many families in the community. We are proud of you. You will get justice.

    DisAgree [12] Agree [8] Reply Report Abuse

  • Rion, Udupi

    Fri, Mar 05 2021

    Dear Mr. Shetty, we all trust you in Tulunad and you will come out clean with almighty blessings. Remember Truth never vanish or none can destroy

    DisAgree [14] Agree [11] Reply Report Abuse

  • Max and Jessie Rasquinha, Mangalore, Houston/Dallas, Texas, U.S.A.

    Thu, Mar 04 2021

    Dear Dr. B. R. Shetty Sir, what a lovely confession of your life's history that you have shared with us thru Daijiworld. We are satisfied, and we pray to God to give you and your family the strength and capacity to withstand all the trials and tribulations of your hitherto life. These kind of calamities can overshadow anyone's life, but we must have the the courage and determination to withstand the situations as they come upon us thru the destiny that surrounds us in each of our life. All that we would like to state is that we are happy that you and your family are safe, and that you are fully aware of your circumstances that you will overcome sooner or later in life. We remember all the glorious days that you have embraced in the past, and that you will overcome the situation in future years of your life. We wish you and your family best of luck, and hopefully everything will work out well with you and that you will return to normalcy of life. Take courage, Dr. Shetty, and we look forward to meeting with you some time, somehwere, "Inshallah".

    DisAgree [20] Agree [19] Reply Report Abuse

  • Rahul, Mangalore

    Thu, Mar 04 2021

    Salute to our tulunada sirI We trust you Sir. Because of you many of our undivided district people built their houses & fed their families.

    DisAgree [22] Agree [19] Reply Report Abuse

  • Alfred dsouza, Mumbai

    Thu, Mar 04 2021

    I had the pleasure of meeting and seeing Mr. Shetty back in 1976 in Dubai when he used to be a Medical Representative. He rose to the level that we all have witnessed. In between, Mr.Shetty appeared in various Tulu Coota and Karnatake Singha programs in Dubai. There is no doubt that he is a very very soft hearted man. He paid special attention to people who spoke Tulu. I have seen his empire from very close quarters in Dubai, Sharjah and Abu Dhabi. I knew many many of his medical staff, Doctors and his friends. If I may opine, he perhaps had trust in wrong people. We wish him all the best and May the Lord help him recover his glory and clear his name. The towers are not built in one day, it takes years. It goes well with Mr. Shetty's great rise and poor fall. God bless

    DisAgree [24] Agree [22] Reply Report Abuse

  • Valerian DSouza, Udupi/ Mumbai

    Thu, Mar 04 2021

    Sad story of a great industrialist / philanthropist of our region. He is a man for all. Hope all his wishes come true! I remember, so many people from our region were migrating to Mumbai those days to work and study. Many Hoteliers would support them in their mission. They treated them like their own. It use to be a relationship for life, though they work study and leave. Sadly, nowadays such humility is in the verge of extinction!

    DisAgree [24] Agree [24] Reply Report Abuse

  • Sophia Fernandes, Bombay, India (Mangalore)

    Thu, Mar 04 2021

    I Salute Mr. Shetty. I do not know him personally, but have always been reading his news on Daijiworld. He is a man of substance and I pray that God brings him back a million fold as he is always reaching out to the Needy as there are many who do that but with Social Media side by side. Not Mr. Shetty. Assuring Mr. Shetty my fervent prayers Sir and trusting in God's justice. Stay blessed always and continue being a blessing to all Sir. The world needs many more like you. My prayers and best wishes. Sophia Fernandes (Kuwait)

    DisAgree [40] Agree [27] Reply Report Abuse

  • CA Ranganatha Krishna Achar, Udupi

    Thu, Mar 04 2021

    I have been following Dr B R Shetty’s news these days and I am of the opinion that internal control within the organization was diluted over the years, their Accounts/ Finance Department had a battery of almost 20 CA’s and Dr Shetty had some excellent advisors at his disposal and still such a big fraudulent activity occurring is something which I cannot digest, I just went through the last available voluminous Balance sheet of NMC Health which is in the public domain and there are lots of intercompany lending and activities which a normal person cannot fathom but some of the figures are Truly fishy, he was able to get bank facilities because of NMC shares which was listed in London, I feel for him, since time is not on his side ( He is almost 80, he was my mother’s classmate) I doubt whether he will rise back from the ashes, he has helped lot of people from our area and I wish him all the best. CA Ranganatha Achar Krishna

    DisAgree [19] Agree [52] Reply Report Abuse

  • Joe GONSALVES, Mangalore

    Thu, Mar 04 2021

    I followed the discussions between Dr. B.R. Shetty and Mr.Walter Nandanaik. Indeed Dr. Shetty has all along been an exemplary Role Model. I knew Dr. Shetty's sister in America and she was my daughter's very good friend. At the invitation of Dr. Shetty I had the pleasure of spending two days at his guest house attached to The Hospital and if I remember correctly I had the pleasure of meeting his elderly father. Dr. Shetty was kind and hospitable to my family and to me. I recall with gratitude Dr. Shetty's kindness to me and my family. It is my intention to meet Dr. Shetty at his convenience. Of c course I am in my hundredth year and hope I will be able to fulfill my ambition

    DisAgree [26] Agree [40] Reply Report Abuse

  • Sachidanand Shetty, Mundkur/Dubai

    Thu, Mar 04 2021

    If you happened to visit NMC Hospital even today.... you can feel proud that..... there are so many native Udupi or Mangloreans' still working there... When hear Tulu or Kannada language.... I feel that I am on cloud 9 So, I hope that this legacy will continue forever... and BRS come clean again

    DisAgree [44] Agree [35] Reply Report Abuse

  • Evans C Sumitra, Udupi/New York, USA.

    Thu, Mar 04 2021

    Dr. B R Shetty, I am fully confident that you will come out clean of all these allegations which you are facing. You trusted many people and a few cheated. Very soon the truth will come out as to who is wrong and who is right.

    DisAgree [35] Agree [26] Reply Report Abuse

  • Alldon Darryll dsilva, bangalore

    Thu, Mar 04 2021

    Life is a struggle, ups and downs are common. As a person he is a Jem. we are all proud of him. He is a fighter, We wish him the very best and he regain his glory at the earliest

    DisAgree [30] Agree [20] Reply Report Abuse

  • Paul, Mangalore

    Thu, Mar 04 2021

    Mr. B R Shetty has helped lots of people. He has given lots of jobs to Mangalorean's . We should remember when you come up with difficulties & become rich ,Famous there are lots of people who are & let you down jealous. Anyway i wish B R shetty all the best ,God give him more strength & come out from these crisis soon & be a free man. If you have not done anything 100% sure God will help you

    DisAgree [29] Agree [43] Reply Report Abuse

  • Dr. Madhyastha H, Balkudru

    Thu, Mar 04 2021

    Great interview. Shall take all his advice to overcome the stress in life.

    DisAgree [27] Agree [36] Reply Report Abuse

Leave a Comment

Title: Mangaluru: Exclusive - ‘People I trusted cheated me, will fight back’ - Dr B R Shetty

You have 2000 characters left.


Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will be held responsible.