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Apr 12: The board and management of troubled NMC Healthcare should be held accountable for the financial irregularities, said Abdulaziz Al Ghurair, chairman of the UAE Banks Federation.

"Banks have dealt with the exposure professionally and they lent to a company which was listed on FTSE-100 index with world-class regulator and the world's largest audit firm doing their audit. Even if they present their balance sheet today, people will still lend to them. This is a world-class fraud and the management and board members should be held accountable. We should have a different track to handle this company. It is not a normal track that we can go," Al Ghurair said during a virtual press conference on Sunday.

It is estimated that the more than 80 local, regional and international banks have exposure to healthcare firm. The UAE bourses had asked all the listed companies in the UAE to announce their exposure. The UAE banks last week announced nearly Dh10 billion exposure to NMC Healthcare, which is owned by the billionaire BR Shetty.

Abu Dhabi Commercial Bank has the highest exposure to NMC at Dh3 billion. Dubai Islamic Bank and its subsidiary Noor Bank announced Dh2 billion exposure while Emirates NBD and its Shariah-compliant unit Emirates Islamic Bank revealed Dh747.34 million exposure. Ajman Bank has Dh151.8 million while Al Salam Bank pegged its exposure at Dh161.5 million. All these lenders revealed their exposure for the first time on Sunday.

Abu Dhabi Islamic Bank said it had extended Dh1.07 billion in financing to NMC Healthcare, and an additional Dh113.67 million exposure to Islamic bonds issued by NMC.National Bank of Fujairah pegged its exposure to NMC at Dh289.1 million, while Sharjah-based United Arab Bank said its exposure was Dh135.3 million.

NMC recently revised its debt position to $6.6 billion, well above earlier estimates.

London's High Court last week placed hospital operator NMC Health into administration, on the application of Abu Dhabi Commercial Bank.

"I know leading bank in UAE have already legal guardian of the company so now management cannot hide anything. The new team will manage and discover what happened," said Al Ghurair.

Mysuru, Jan 20: A 100-member team of National Security Guards (NSG) has arrived in the city for bolstering security measures in the tourist centre and to demonstrate the preparedness of the elite force to tackle any exigency in the region.

The annual maintenance of the Mysuru Palace will be taken up on Monday and the NSG commandos are expected to give suggestions and directions for improving the security at the place. It is also said that the commandos may visit Mysuru airport.

It is also said that the commandos may visit Mysuru airport. According to sources, from the Palace Board, the team of commandos reached Mysuru two days ago and interacted with the officials and engineers of the Palace Board.

Mangaluru, Jan 26: The Azizuddin Road of Mangaluru’s Bunder area, which had witnessed the brutal killing of two innocent passersby over a month ago, today witnessed the unfurling of Indian national flag by the kin of the police firing victim. 

49-year-old Abdul Jaleel Kandak, a father of two, and 23-year-old Nausheen Kudroli, were killed in an arbitrary and unwarranted police firing during a disturbance occurred due to police baton charge in the city on December 2019. 

A mixed feeling of patriotism and pain prevailed when a group of people gathered on the police firing spot to celebrate the 71st Republic Day of India. Family members of the victims were part of it.

It was Shifani, the daughter of Abdul Jaleel, who unfurled the flag and read out the preamble of the Indian constitution. 

“This is the spot where the constitution of the country was murdered,” said social activist Vidya Dinker, recalling the police firing. “The constitution is being murdered everyday in many states of India. We must regain the constitution and implement it everyday,” she added. 

Journalist Shahnaz M, DYFI leader Imtiyaz BK, SIO leader Talha, NWF leader Shahida Aslam and social activist Shabbir Ahmed were present among others.