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London Court Rules In Favour Of Barclays, Allows It To Claw Back $131 Million From Shetty, The Founder Of NMC

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Bhuvana Iyer, Mumbai Uncensored, 13th January 2022 :

Indian Entrepreneur Bavaguthu Raghuram Shetty, founder of NMC Health Plc, has been directed to pay $131 million to Barclays Plc in an award passed by a London court. 

The penalty has been imposed due to his failure to meet a transaction with Barclays, which his foreign exchange business- UAE Exchange Centre, had entered into with the Bank in 2015.

NMC Health Plc is one of the biggest privately-owned healthcare groups in the UAE, and had over 200 healthcare units in 17 countries before it was placed into administration in April, 2020.

He signed a guarantee to pay off his debts to Barclays incurred by the UAE Exchange Centre.

The UK-based international bank had sought to claw back its losses after the businessman’s Abu Dhabi-based UAE Exchange Centre (UAEEC) reneged on a currency-swap agreement in March 2020 with his empire on the brink of collapse.

Barclays gave UAEEC more than $129 million in less than a week, but never received the expected currencies in exchange as share trading in the parent company, Fibablr, was suspended on the London Stock Exchange on account of a massive accounting scandal, the report said.

A court in Dubai ruled in favour of the bank in April last year, prompting Barclays to go to the High Court in London to enforce the ruling and tap Shetty’s frozen assets around the world. Barclays has obtained worldwide freezing orders against Shetty, including in India, where he is currently stranded.

His only known English asset is a £4 million penthouse flat in north-west London, close to Lord’s Cricket Ground. According to land registry documents, this flat is owned by Shetty through a British Virgin Islands company, Multi Skies Ltd.

The Judge in Dubai had dismissed his forgery claims as being “entirely without substance”, noting that there was “no evidence whatsoever” to suggest that Barclays had engaged in any kind of dishonesty or fraud.

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Shiprocket Launches RevProtect: India’s First Predictable Revenue Solution for MSMEs

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SHIPROCKET 5 12 2023

Mumbai, Aug 18, 2025 — Shiprocket, India’s leading eCommerce enablement platform, today announced the launch of RevProtect, India’s first revenue assurance solution that guarantees predictable income for sellers facing the uncertainties of shipping delays and return-to-origin (RTO) orders. With RevProtect, sellers can access automatic protection to recover up to 50% of their order value. With this, Shiprocket aims to empower MSMEs through robust, hassle-free coverage that minimises risks and secures their business growth.

As India’s e-commerce sector continues to grow, complexities around logistics, fulfilment, and last-mile delivery are also intensifying. One of the most pressing challenges is Return to Origin (RTO), which significantly impacts the profitability, operational efficiency, and, in some cases, the long-term sustainability of MSMEs. The average RTO in India over the past six months has hovered around 16 % (source: Shiprocket trends), and is increasing in Tier 2 and 3 cities. 

RevProtect directly addresses this business-critical pain point by offering a revenue guarantee, ensuring that sellers are shielded from unpredictable losses and can count on stable, forecastable earnings, even when orders are returned due to shipment delays.

Small and mid-sized sellers, which form the backbone of India’s digital retail economy, often operate on razor-thin margins. Even a minor spike in RTOs or shipping delays can severely impact profitability. With the launch of RevProtect, Shiprocket strengthens its commitment to supporting MSMEs by minimising business risks, stabilising revenues, and enabling them to deliver exceptional customer experiences with greater confidence.

Key Benefits of RevProtect:

●        Revenue Guarantee of up to 50% of the order value for delayed shipments, resulting in an RTO

●        No shipping charges for shipment that misses the Estimated Delivery Date (DD)

●        Affordable Pricing

●        Easy Activation through the dashboard

●        Delivery Boost and Notify, are included at no extra cost to improve delivery performance

“After carefully analysing the needs of online sellers, we have built RevProtect to give them utmost peace of mind and confidence to navigate the uncertainties of logistics,” said Atul Mehta, CEO, Domestic Shipping, Shiprocket.

“Every MSME we work with is building their dream, one shipment at a time, and when things go wrong, it hits their revenue hard. With RevProtect, we’re making a bold commitment where we cover up to 50% of the GMV. That’s often more than what we earn. And we’re backing that with complimentary services like Delivery Boost and Notify to actively improve outcomes. We’re not just protecting revenue,  we’re raising the bar on delivery reliability.” He added.

RevProtect is available to all sellers on the Shiprocket platform. Future updates will include bulk shipment support and deeper analytics to optimise seller protection.

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Zigly brings-in wholesome experiences for furry friends at Pet Fed Delhi

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Zigly, a leading omnichannel pet care brand, celebrated the bond between pets and their parents at Pet Fed Delhi 2024. This much-anticipated event marked 10 years of successfully conducting Pet Fed in the National Capital. Taking place at NSIC Ground, Okhla, Delhi, the event witnessed one of the largest turnouts ever, with pet parents and their furry friends braving the cold winter weather to attend.

Zigly brings in wholesome experiences for furry friends at Pet Fed Delhi

Zigly, as the power sponsor, showcased its premium brands at one of the event’s largest stalls, featuring Zigly Lifestyle, FurPro grooming range, and the Applod treats and biscuits range, along with stylish accessories from the latest winter collection. A significant portion of the stall was dedicated as a play area for furry friends. The brand advocated the promotion of pet health and hygiene while creating memorable experiences through veterinary and grooming services offered at their stall.

Enhancing the experience for pets and their parents, Zigly provided free health check-ups and opportunities to participate in lucky draws. The brand delighted pet parents with event-exclusive discounts and promotions on its range of products and grooming services, offering an excellent opportunity to stock up on high-quality products at unbeatable prices.

Celebrating Zigly’s participation in Pet Fed, Mr. Pankaj Poddar, Group CEO of Cosmo First, stated, “We are delighted to be part of Pet Fed Delhi as it allows us to come closer to the Zigly community, helping us learn and adapt to the needs of both pets and pet parents. Delhi experiences the harshest winters in the country, which is why we are proud to showcase our winter collection 2024 at this event. Just like previous iteration of Pet Fed at Bengaluru, we are happy to witness such a great turnout of our furry friends at the event in Delhi as well. It keeps us motivated to continue to strive towards our goal of a better pet care ecosystem.”

This year’s event was bigger and better than ever before, featuring a plethora of activities and attractions. Attendees enjoyed fancy dress competitions, lucky draws, and adoption zones, catering to both cats and dogs. The festival also featured numerous pet care brands, offering a wide range of products and services for pets.

The event was a true celebration of the pet community, bringing together pet parents, industry experts, and animal lovers for non-stop fun and learning. As Pet Fed Delhi 2024 wraps up, the excitement and joy shared by all attendees promises to linger, setting the stage for even more spectacular events in the future.

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Celebrating 25 Years of Innovation and Success: Priyank Sukhija’s Journey in the Food and Beverage Industry

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Priyank Sukhija, the CEO & MD of First Fiddle F&B Pvt. Ltd., has completed 25 years in the food and beverage industry, marking a significant milestone in his remarkable career. From a 19-year-old dropout setting up his first venture to becoming a leading restaurateur, Priyank’s journey is a testament to passion, creativity, and relentless ambition.

Starting in 1999 with the fine dining restaurant Lazeez Affaire at Malcha Marg, Priyank quickly made a name for himself in the hospitality industry. He followed this with the renowned club RPM at Priya Complex, and from there, his ventures only expanded. Despite coming from a family of lawyers, Priyank was the first to venture into business, altering Delhi’s hospitality landscape forever. Over the past 25 years, he has opened more than 30 different outlets, each unique and innovative.

Priyank’s success can be attributed to his love for food, music, and innovation. His brands, including Miso Sexy, Bougie, Diablo, Lord of the Drinks, Plum by Bent Chair, and Lazeez Affaire, have become some of the most talked-about names in the industry. “I realized that nothing makes me happier than eating and serving a delicious meal. Food, music, and innovation were what always inspired me and hence I ventured into an area that could fulfill this passion,” Priyank explains.

One of Priyank’s major accomplishments has been revolutionizing the F&B industry and introducing the concept of casual experiential dining to India. His establishment, Plum by Bent Chair, revived the Aerocity Worldmark area, while Diablo kickstarted the bar culture in Mehrauli, turning it into a vibrant hub. At Epicuria, Nehru Place, Priyank was a pioneer with Flying Saucer and is now reinventing the space with his new launch, Thanks & Beyond.

“My restaurants are known for providing an experience, and this makes them stand apart from the crowd. I believe in the ‘vibe’ of the restaurant, and that is what sets them apart. All my restaurants have an extensive menu with dishes and drinks that can be enjoyed by people of all ages,” says Priyank. His eateries have become one-stop solutions for complete entertainment, featuring performances by the most sought-after bands and artists.

With his numerous successes, Priyank’s ambition continues to grow. His current brands, including Diablo, Miso Sexy, and Bougie, have become the go-to destinations in Delhi for top artists and bands. His latest ventures, Diablo Cyberhub, Sitch, and Bizou-Bizou, have created a buzz in Delhi and NCR with their unique cocktail-focused concepts. Additionally, he is expanding to tier 2 cities with the introduction of Miso Sexy in Noida and Diablo in Goa.

In celebration of his 25 years of success, Priyank has opened a new restaurant, Thanks and Beyond, in Nehru Place. This venture is a gesture of gratitude to everyone who has supported him, a homage to Delhi for the love shown to him, and a promise of many more exciting ventures to come. This summer, Priyank has several more launches lined up, promising to bring even more innovation and excitement to Delhi’s F&B scene.

Priyank Sukhija’s journey in the F&B industry is a story of vision, hard work, and a relentless pursuit of excellence. His passion for creating unique dining experiences has not only set him apart but has also significantly shaped the hospitality industry in India. As he continues to innovate and expand, the future looks incredibly promising for Priyank and First Fiddle F&B Pvt. Ltd.

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