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 13,2020

New Delhi, Jan 13: The Delhi High Court on Monday sought response of the city police, Delhi government, WhatsApp Inc, Google Inc and Apple Inc on a plea of three JNU professors to preserve data, CCTV footage and other evidence relating to the January 5 violence on the varsity campus.

The Delhi Police informed the court that it has asked the JNU administration to preserve and hand over CCTV footage of the violence.

Justice Brijesh Sethi listed the matter for further hearing on Tuesday.

The court was told by Delhi government Standing Counsel (criminal) Rahul Mehra that the police has not yet received any response from the university administration.

The counsel said police has also written to WhatsApp to preserve data of two groups "Unity Against Left" and "Friends of RSS" including messages, pictures and videos and phone numbers of members, related to JNU violence incident.

The petition was filed by JNU professors Ameet Parameswaran, Atul Sood and Shukla Vinayak Sawant seeking necessary directions to the Delhi Police Commissioner and Delhi government.

The petition also sought direction to the Delhi Police to retrieve all CCTV footage of JNU campus.

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Agencies
May 28,2020

Sharjah, May 28: The Ministry of Interior has warned the public against visiting wadis during bad weather conditions, including rainy seasons, to avoid the risk of getting caught in flash floods that could endanger their lives.

A video posted on its official Instagram account depicted several such incidents involving cars being swept away by floods.

The warning comes after four people were found dead this week in Sharjah's Wadi Al Helo, an area hit by floods during heavy rains that lashed the emirate, authorities said.

The National Search and Rescue Centre (NSRC) found the bodies as it conducted an operation to look for seven people who were reported missing amid the unstable weather conditions.

In a separate incident yesterday, 20 passengers of a bus that got stuck in Wadi Hatta's Umm Al Nosor area in Dubai were also rescued by police after their vehicle was swept away by floods.

The ministry urged the public to follow the directives issued for their own safety.

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News Network
January 9,2020

Srinagar, Jan 9: Envoys from 15 countries including the United States were shown around Srinagar on Thursday, the first visit by New Delhi-based diplomats since the government stripped Kashmir of its semi-autonomous status and began a harsh crackdown five months ago.

The diplomats were driven by Indian authorities in a motorcade amid tight security from the airport to the military headquarters in Srinagar, where they were briefed on the security situation, an army officer said. He spoke on condition of anonymity as he was not authorized to speak to reporters.

They also held discussions with civil society members and some Kashmiri politicians, said Raveesh Kumar, spokesman for the Ministry of External Affairs (MEA).

The objective of the visit, organized by the Union government, was for the envoys to see first-hand “how things have progressed and how normalcy has been restored to a large extent'' in Kashmir since August, Kumar told reporters in New Delhi.

In October, a group of European Parliament members had visited the region, which is claimed by both India and Pakistan.

The delegation that visited Kashmir on Thursday included US ambassador to India Kenneth Juster and diplomats from Bangladesh, Vietnam, Norway, the Maldives, South Korea, Morocco, Niger, Nigeria, Argentina, the Philippines, Fiji, Uzbekistan, Peru and Togo.

Offices, shops and businesses were open in Srinagar on the cold winter day, but the diplomats did not stop to talk to people as they moved to different venues of their meetings.

They were to fly to Jammu, the winter capital of Kashmir, later Thursday and return to New Delhi on Friday.

Congress leader Jairam Ramesh pointed out the oddity of taking foreign diplomats to the troubled state but not allowing allowing Indian political leaders to freely visit it.

The National Conference said it was "disappointed" with the way the government brought envoys from various countries to "endorse" its "claims of normalcy" in the union territory. The party alleged that it was no more than a "guided tour" with access limited to "handpicked individuals who toe the government line".

“The NC wishes to ask these envoys that if the situation in Jammu & Kashmir is "normal", then why are scores of people, including three former chief ministers, under detention for almost 160 days and why have the people been denied access to the internet for over 5 months?" a statement issued by the party said.

Kumar dismissed as unfounded criticism of the visit, and said more such visits to Kashmir by New Delhi-based diplomats are likely in the near future.

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