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
February 14,2020

Feb 14: R K Pachauri, a former chief of The Energy and Resources Institute, passed away on Thursday after a prolonged cardiac ailment, TERI Director General Ajay Mathur said.

He was 79.

"It is with immense sadness that we announce the passing away of R K Pachauri, the founder Director of TERI. The entire TERI family stands with the family of Dr Pachauri in this hour of grief," Mathur said in a statement issued by the TERI.

"TERI is what it is because of Dr Pachauri's untiring perseverance. He played a pivotal role in growing this institution, and making it a premier global organisation in the sustainability space," said Mathur, who succeeded Pachauri at TERI in 2015. Pachauri was admitted to Escorts Heart Institute in the national capital where he underwent open heart surgery and was put on life support on Tuesday, sources said.

In the statement issued by TERI, its Chairman Nitin Desai hailed Pachauri's contribution to global sustainable development as "unparalleled".

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News Network
January 19,2020

Chennai, Jan 19: Amid ongoing nationwide protests against Citizenship (Amendment) Act, 2019, finance minister Nirmala Sitharaman on Sunday said that as many as 2838 people from Pakistan were given citizenship during the last six years.

"In the last six years, as many as 2838 Pakistani refugees, 914 Afghan refugees, 172 Bangladeshi refugees including Muslims have been given Indian citizenship. From 1964 to 2008, more than 4,00,000 Tamils (from Sri Lanka) have been given Indian citizenship," Sitharaman said at 'Programme on Citizenship (Amendment) Act, 2019' event here.

She added, "Till 2014, over 566 Muslims from Pakistan, Bangladesh and Afghanistan were given Indian citizenship. During 2016-18 under Modi government, around 1595 Pakistani migrants and 391 Afghanistani Muslims were given Indian citizenship."

The minister, further, said, "It was also during the same period in 2016, that Adnan Sami was given Indian citizenship, this is an example."    

Sitharaman added that people who came from East Pakistan have been settled at various camps in the country.

"They are still there and it's been 50-60 years now. If you visit these camps, your heart will cry. The situation is the same with Sri Lankan refugees who continue to live in camps. They're barred from getting basic facilities," she said.

Asserting that the government is not snatching away anyone's citizenship, the BJP leader said: "This Citizenship (Amendment) Act is an attempt to provide people with a better life. We are not snatching away anyone's citizenship, we are only providing them that."

"The National Population Register (NPR) will be updated every 10 years and is not involved with the National Register of Citizens (NRC). Some are involved in raising false allegations and triggering people unnecessarily without any base," she added.

Comments

indian
 - 
Monday, 20 Jan 2020

Hello Madam,

What Are you ?? Are you a Finance Minister or External Affairs Minister ??

when someone asked about the economy which well related to your ministry you won't even open your mouth, 

but now you are talking about a matter which is not at all your business...

WellWisher
 - 
Sunday, 19 Jan 2020

What a pefect  figure  given by our short time  finance minister. Hope  she wil feed them from her person income wthout ONION.

Fairman
 - 
Sunday, 19 Jan 2020

Stupid, dont know even what they talk.

 

 

It is not snatching anybody's nationality. You dont have right to do it.

 

 
The subject is not snatching,    the subject is disccimination while giving nationality.

 

 

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News Network
April 13,2020

Dubai, Apr 13: The UAE plans to impose "strict restrictions" on countries reluctant to take back their nationals working in the Gulf country in the wake of the coronavirus outbreak and restructure its cooperation and labour relations with them, a state-run media report said on Sunday.

Indian expatriate community of nearly 33 lakh is the largest ethnic community in UAE constituting roughly about 30 per cent of the country’s population. Among the Indian states, Kerala is the most represented followed by Tamil Nadu and Andhra Pradesh.

The options being considered by the Ministry of Human Resources and Emiratisation include "imposing strict future restrictions on the recruitment" of workers from these countries and activating the "quota" system in recruitment operations, state-run WAM news agency reported, citing an official.

It said the options also include suspending memoranda of understanding signed between the ministry and concerned authorities in these countries.

Citing the unnamed official, it said these options are being considered after many countries did not respond to requests by their nationals to return home following the coronavirus outbreak.

The official made it clear that all countries of foreign workers in the UAE should be responsible for their nationals wishing to return to their countries as part of the humanitarian initiative launched recently by the ministry.

Earlier this month, the ministry launched the initiative to enable residents who work in the UAE and wish to return to their countries to do so during the period of precautionary measures undertaken in the UAE to contain the spread of the coronavirus.

Employees will be asked to submit their annual leave dates or agree with their employers on unpaid leave.

UAE's Ambassador to India Ahmed Abdul Rahman Al Banna has said that the Ministry of Foreign Affairs and International Cooperation (MOFAIC) had sent out a “note verbale” to all the embassies in the UAE, including the Indian mission, during the past couple of weeks on the issue.

“We have sent the note verbale and all the embassies have been informed including the Indian embassy in the UAE and even the Ministry of External Affairs in India,” Al Banna told Gulf News over phone on Saturday.

He said the UAE has offered to test those who want to be evacuated.

“We are assuring everybody that we have the best of the facilities, the best of the testing centres and we have tested more than 500,000 people,” he said.

“We are assuring them also of our cooperation to fly those who got stranded in the UAE for some reasons. Some got stuck because of the lockdown and closure of airports in India. Some were visiting the UAE.”

“We are offering our system and making sure that they are good (to fly) by doing all the tests and transport them according to the request of their own government,” he said.

The envoy said those who test positive for COVID-19 will remain in the UAE. “They will be treated in our home facilities,” he added.

The Kerala High Court on Saturday sought the central government's response to a petition seeking a direction to bring back Indians stranded in the UAE in view of the coronavirus outbreak in the gulf nation.

Considering the plea by Kerala Muslim Cultural Centre (KMCC) in Dubai, the court directed the Centre to file an affidavit on the steps taken by it to ensure the safety of Indians living there and bring back those stuck in the Gulf countries.

In its plea, KMCC, the organisation for non-resident Indians from Kerala, sought directions to the Ministries of External Affairs and Civil Aviation to provide exemptions in the international air travel ban to bring back those Indians stranded in the UAE.

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