Bajrang Dal convention in Mangaluru to discusslove jihad', cow trafficking

Bengaluru, June 12: The Karnataka government has withdrawn its notification that allowed factories to extend working hours up to 10 hours a day and 60 hours a week, with immediate effect.

The extension of work hours was from eight hours a day and 48 hours a week. On May 22, the government had exempted all the factories registered under the Factories Act, from the provisions of Section 51 (weekly hours) and Section 54 (daily hours), till August 21 subject to certain conditions.

"Whereas, having examined the provisions further, the Government of Karnataka now intends to withdraw the said notification," the state government in a fresh notification dated June 11 said.

It said, "Therefore, in exercise of the powers conferred under Section 5 of Factories Act, 1948 (Act No. 63 of 1948), the Government of Karnataka hereby withdraws the Notification dated 22-05-2020 with immediate effect."

According to the Karnataka Employers' Association, a petition was filed in the High Cour challenging the May 22 notification as "illegal, arbitrary and in violation" of Section 5 of the Factories Act which permits exemption from any of the provisions of the Factories Act only in case of Public Emergencies'.

During the course of hearing on June 11 an observation was made by the High Court, that it may have to quash the notification unless the government clarifies as to what is the 'Public Emergency' involved to enhance the working hours by exempting some provisions of the Factories Act, it said.

The court further observed that the government should make a submission on June 12 in this behalf. However, the government withdrew the notification on June 11 itself. Recently states like Rajasthan and Uttar Pradesh too had retracted after permitting extending work hours.

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.

Bengaluru, Jun 5: Karnataka Chief Minister B S Yediyurappa on Thursday said government employees and owners of tractors and other vehicles must return the BPL ration cards immediately, failing which stringent legal action would be initiated against them.

The CM issued directions in this regard to officials as he conducted a review meeting of the Food and Civil Supplies and Consumer Affairs department today. Proper supply of ration must be ensured to eligible beneficiaries and action has to be taken to prevent misuse of the facility by those not eligible, Yediyurappa was quoted as saying by his office in a release.

Nearly 63,000 ration cards were cancelled before the COVID-19 outbreak, he noted and directed officials to initiate a campaign to cancel all illegal ration cards. "this campaign would help in curtailing the financial burden on the State's reserves," he added.

In the backdrop of coronavirus pandemic, both the Central and State governments have distributed sufficient quantities of ration, and about 95 percent ration cardholders have availed the benefit, the release said. Under the Chief Ministers Anila Bhagya Scheme, 98,079 beneficiaries have been given 3 gas cylinders free of cost, it said.