Mumbai, Feb. 24 -- Bavaguthu Raghuram Shetty, the embattled Indian entrepreneur who founded the UAE's largest private healthcare chain, said he was "shocked" after a Dubai court ordered him to pay nearly Rs.1,000 crore to ICICI Bank, and vowed to appeal the decision.

The Dubai International Financial Centre Court last Monday ordered Shetty to pay ICICI Bank $106 million (about Rs.920 crore) in lieu of his personal guarantees for loans taken by his now-bankrupt company.

"I am definitely filing an appeal against this judgement, and I'm very confident that this judgement will be overturned by the appeal court. Ultimately truth will prevail, and I will get justice," Shetty told Mint.

ICICI Bank did not respond to emails sent on Friday even...