Banks asked to search and seize B R Shetty’s accounts in UAE

News Network
April 26, 2020

Dubai, Apr 26: The Central Bank of the UAE (CBUAE) has instructed financial institutions in the country to search and freeze all bank accounts of Indian billionaire BR Shetty and his family along with those of companies where he has a stake.

The apex bank has also blacklisted several firms associated with Shetty along with their entire senior management.

In an advisory issued last week, CBUAE cited decisions of the Federal Attorney General and asked financial institutions to search and freeze any bank accounts, deposits or investments in the name of Shetty or his family members.

Financial institutions have been directed to stop transfers from these accounts and deny access to deposit boxes.

Currently in India and facing a string of charges, Shetty is the founder of NMC Health.

The heathcare provider was placed into administration by a UK court recently following an application by the Abu Dhabi Commercial Bank (ADCB) which alone has an exposure of $981 million (Dh3.6 billion).

Overall, UAE banks have a combined exposure of more than Dh8bn to NMC which owes money to Oman-based banks and financial institutions as well.

Probing credit facilities
The Central Bank has sought information about credit facilites extended to the Shettys along with details of their safe deposit boxes and the financial transfers they have made till date.

A similar advisory has been issued for NMC Healthcare and NMC Holding, based on the decision of the Head of Plenary Fund Prosecution.

The Central Bank has also blacklisted several companies associated with Shetty. Key staff members of these firms have been similarly blacklisted.

Comments

Angry Indian
 - 
Monday, 27 Apr 2020

when you make money with good country you should not make doka to that country, first of all we indian have bad name in GCC now this will make more dought on indian hindus..

 

after BJP come to power in india,our country is acting like maron, this will only end with final WAR.

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News Network
January 6,2020

Riyadh, Jan 6: Saudi Arabia was not consulted by its ally Washington over a US drone strike that killed a top Iranian general, an official said Sunday, as the kingdom sought to defuse soaring regional tensions.

Saudi Arabia is vulnerable to possible Iranian reprisals after Tehran vowed "revenge" following the strike on Friday that killed powerful commander Qasem Soleimani in Baghdad.

"The kingdom of Saudi Arabia was not consulted regarding the US strike," a Saudi official told AFP, requesting anonymity.

"In light of the rapid developments, the kingdom stresses the importance of exercising restraint to guard against all acts that may lead to escalation, with severe consequences," the official added.

Saudi Arabia's foreign ministry made a similar call for restraint at the weekend and King Salman emphasised the need for measures to defuse tensions in a phone call on Saturday with Iraqi President Barham Saleh.

In a separate phone call with Iraq's Prime Minister Adel Abdel Mahdi, Saudi Crown Prince Mohammed bin Salman stressed "the need to make efforts to calm the situation and de-escalate tensions", the official Saudi Press Agency reported.

The crown prince has instructed Prince Khalid bin Salman, his younger brother and deputy defence minister, to travel to Washington and London in the next few days to urge restraint, the pan-Arab Asharq al-Awsat newspaper reported.

Prince Khalid will meet White House and US defence officials, the paper said, citing unnamed sources.

The killing of Soleimani, seen as the second most powerful man in Iran, is the most dramatic escalation yet in spiralling tensions between Washington and Tehran and has prompted fears of a major conflagration in the Middle East.

US President Donald Trump, who ordered the drone strike, has warned that Washington will hit Iran "very fast and very hard" if the Islamic republic attacks American personnel or assets.

The American embassy in Riyadh on Sunday warned its citizens living close to military bases and oil and gas installations in the kingdom of a "heightened risk of missile and drone attacks".

A string of attacks blamed on Iran has caused anxiety in recent months, as Riyadh and Washington deliberated over how to react.

In particular, devastating strikes against Saudi oil installations last September led Riyadh and Abu Dhabi to adopt a more conciliatory approach aimed at avoiding confrontation with Tehran.

Analysts warn that pro-Iran groups have the capacity to carry out attacks on US bases in Gulf states as well as against shipping in the Strait of Hormuz -- the strategic waterway that Tehran could close at will.

"Expect Iranian reprisals (directly or through partner groups in Iraq, Lebanon or elsewhere) to target US partners in the region including Saudi Arabia," said Thomas Juneau, an assistant professor at the University of Ottawa.

"Given the climate in the US, where support for Saudi in the media and Congress is at an all time low, it will be difficult for Trump to commit significant resources to come to its aid."

Yemen's pro-Iran Huthi rebels, locked in a five-year conflict with a Saudi-led military coalition, have also called for swift reprisals for Soleimani's killing.

"The aggression... will not go without a response," said Huthi political council member Mohammed Al-Bukhaiti.

"How the response is going to be, when and where will be determined by Iraq and Iran, and we will stand with them as a hub for the resistance."

It was unclear if the Huthi warning was directed in part at Saudi Arabia, which has stepped up efforts to end Yemen's conflict amid a lull in Huthi attacks on the kingdom.

Saudi Arabian military commanders recently met with counterparts from "friendly countries" to formulate a new strategy to tackle the Yemeni rebels, particularly those "opposing" a political solution, according to Asharq al-Awsat.

Riyadh has said it will host a separate meeting of foreign ministers of Arab and African coastal states on Monday.

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News Network
March 9,2020

Riyadh, Mar 9: Schools and universities will be closed in Saudi Arabia from Monday to control the spread of coronavirus.

The Saudi Ministry of Education said the “preventive and precautionary” measures were recommended by the health authorities and are designed to protect students and staff.

The decision covers all educational institutions, including public and private schools, and technical and vocational training institutions.

“The Minister of Education directed that virtual schools and distance education be activated while the schools are closed to ensure that the educational process continues in an effective and quality manner,” the ministry said.

The Kingdom's Education Minister, Hamad bin Mohammed Al-Asheikh, confirmed that the decision was a precautionary step and said that they are conducting daily and weekly evaluations before returning to school.

Meanwhile, the Minister of Health, Tawfiq Al-Rabiah, confirmed that there have been no coronavirus cases in any educational facility in the Kingdom.

“Thank God, the situation is reassuring, and there has been no case in any educational facility. However, the increasing cases in countries have made us keen to enhance the safety of our sons and daughters. So we coordinated with the Ministry of Education to close the schools temporarily,” he said in a tweet on Sunday.

The education ministry has set up supervision offices to help coordinate the distance learning, and respond to parents’ inquiries.

A new committee set up by the ministry will also ensure the virtual schools are functioning through the distance learning methods provided by the ministry.

These include the virtual school platform (Vschool.sa) and mwterials available from the Apple and Android stores.

It will also provide lessons through the “Ain” TV channeland as well as on YouTube via this link: www.youtube.com/dorosien.

The General Presidency for the Affairs of the Grand Mosque and the Prophet’s Mosque also said on Sunday that it will suspend the visitation programs in its external facilities as part of recommended precautions to prevent the spread of the coronavirus and ensure the safety of visitors.

The facilities include the King Abdulaziz Complex for the Covering of the Holy Kaaba, the Gallery of the Two Holy Mosques, and the Library of the Holy Mosque of Makkah.

“The presidency has taken a series of precautionary measures to prevent the spread of the virus, by intensifying sterilization work that is taking place around the clock, and has been keen on coordination and joint cooperation with all relevant government sectors,” it said in a statement issued on SPA.

It added that these preventive efforts come within the procedures that are being implemented by the Saudi government seeking to combat the spread of the new virus, to protect the people of the Two Holy Mosques in particular, and citizens and residents in the Kingdom in general.

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News Network
July 9,2020

Ujjain, Jul 9: Kanpur encounter main accused Vikas Dubey has been arrested at a police station here on Thursday, as per sources in the Uttar Pradesh government.

"Vikas Dubey, the main accused in Kanpur encounter case, has been arrested at a police station in Ujjain," said UP government sources.

Dubey is the main accused in the encounter that took place in Kanpur last week, in which a group of assailants allegedly opened fire on a police team, which had gone to arrest him.

Eight police personnel were killed in the encounter.

Earlier today, Bahua Dubey and Prabhat Mishra, close aides of the main accused, were killed in separate encounters in Etawah and Kanpur respectively.

Whereas, Shyamu Bajpai, also an aide to Dubey, has been arrested by Chaubeypur police following an encounter. He carried a reward of Rs 25,000. Uttar Pradesh's Special Task Force (STF) had gunned down Vikas Dubey's close aide Amar Dubey in Hamirpur district, earlier on Wednesday.

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