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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Agencies
July 29,2020

If everything goes as Russia’s expectation, it will be world’s first country to approve a coronavirus vaccine for widespread in the second week of August despite safety and efficacy concerns, according to a report. The adenoviral vector-based vaccine developed by Russian military and government researchers is currently in phase 2 trials.

According to a report from CNN, Russian officials are hoping to get approval for the COVID-19 vaccine developed by the Moscow-based Gamaleya Institute on Agust 10 or even before that. The officials told the outlet that the vaccine will be approved for public use with frontline healthcare workers receiving it first.

“It’s a Sputnik moment,” said Kirill Dmitriev, head of Russia’s sovereign wealth fund, which is financing Russian vaccine research, referring to the successful 1957 launch of the world’s first satellite by the Soviet Union, according to CNN.

“Americans were surprised when they heard Sputnik’s beeping. It’s the same with this vaccine. Russia will have got there first,” he was quoted as saying.

However, Russia is yet to release the scientific data on its coronavirus vaccine trials, hence, questions remain about the safety and efficacy of the vaccine, said the report. The vaccine is in the second phase of testing with developers planning to launch the phase 3 trials sometime after August 3.

Earlier, Interfax reported, citing Health Minister Mikhail Murashko, that the vaccine will be widely used in parallel with phase 3 trials. He said the country plans to vaccinate medics who are at high-risk for COVID-19 next month before clinical trials are completed.

Murashko added that individuals at higher risk of getting infected with the coronavirus such as older people or those with health conditions will also be prioritised for the vaccine, although he did not estimate or reveal when that would happen. The minister added 800 people will be recruited for the phase 3 trials.

Meanwhile, health officials were more cautious considering the fact that human testing of the vaccine is incomplete, and the state registration is expected to begin after August 3, reported The Moscow Times.

On Monday, Moderna and Pfizer announced the commencement of the final phase 3 trials of their candidate vaccines against the SARS-CoV-2 virus, which has so far claimed at least 654,477 lives and infected 16,514,500 people worldwide. 

Researchers will recruit up to 30,000 volunteers in separate trials both backed by the US government. India's first indigenous coronavirus vaccine, COVAXIN, is undergoing phase 1 human clinical trials across the country. More than 150 COVID-19 vaccines are being developed all over the world with at least six candidates already in late-stage clinical trials.

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News Network
May 7,2020

Dubai, May 7: As India begins the world’s largest evacuation mission by repatriating its overseas citizens stranded due to COVID-19, as many as 354 of them from the UAE will fly into their home country in the first two flights to Kerala today.

An Air India Express flight, which is scheduled to take off from Abu Dhabi to Kochi at 4.15 pm is the first flight, which will be followed by a Dubai-Kozhikode flight of the same airline at 5.10pm. The Indian missions in the UAE finalised the list of passengers, who were chosen based on the compelling reasons they submitted while registering their names.

Selection criteria

These include pregnant women and their accompanying family members in some instances, people with medical emergencies, workers and housemaids in distress, families with cancelled visas, bereaved family members who couldn’t attend funerals back home, a few students and stranded visitors and tourists including two brothers who got stranded in Dubai International Airport for 50 days, the missions said.

Short-listing the first passengers from among a database of more than 200,000 applicants, who include around 6,500 pregnant women, has been a mammoth task which posed several challenges for the missions, Neeraj Agrawal, Consul Press, Information and Culture at the Indian Consulate in Dubai told Gulf News.

He said the consulate set up an operations room in a tie-up with community volunteers from Kerala Muslim Cultural Centre, Indian Association Ajman, AKCAF Task Force, the BAPS Mandir, Indian People’s Forum, and Tamil Ladies’ Sangam.

 “We are trying to accommodate as many deserving people as possible. We expect the understanding of the people. It has been very difficult to sort out everyone’s urgency.”

“We cannot do a lottery system in this and we had to make sub- categories to ensure there is a mix of people with different types of urgencies.”

“Though we want to give priority to pregnant women, it is practically not possible and not good for the health and safety of the applicants to allot a lot of them on the same flight.”

He said 11 pregnant women have been issued tickets on the Dubai-Kozhikode flight.

“That is the threshold we can allow on a flight.”

Volunteer support

The consul appreciated the support of the volunteers in finalising the flight manifest.

“But our response ratio was very less. Many people whose names came up on top of the list were not willing to go on the first flights.”

Due to various constraints like this and sometimes the details of accompanying persons not readily being available, he said the mission was not able to quickly reach out to who might be really in need.

“However, we have given due consideration to people who got in touch with us with their emergency needs. At the time of issuing tickets, we had about 20 such cases.”

He said the Consul General of India in Dubai Vipul led the entire operation and Pankaj Bodkhe, consul, education, was in charge of the Dubai flight.

A big challenge

“It has been a big challenge. Our only concern is that despite our best efforts, sometimes people with more compelling reasons might have got left out on the first flights because of the volume of people who have reached out to us.”

Since there is a chance that some passengers with tickets might not be allowed to fly if they fail the medical screening including blood tests to check antibodies for COVID-19, he said some applicants in the waiting list have been asked to be on standby at the airport.

People with emergencies wishing to fly to other destinations also could not be included, he pointed out.

“We had to ask them to wait. We are unable to send them to other destinations. We can see their desperation. We feel sorry and desperate.”

He said the government is trying to add more flights to un-chartered destinations and a new flight from Dubai to Kannur has been added on May 12.

Passengers of today’s flights have been urged to reach the airport four to five hours prior to departure to facilitate the medical screening.

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Agencies
June 7,2020

New Delhi, Jun 7: A day after India and China military commanders held "cordial and positive" talks at Chushul-Moldo point along the Line of Actual Control in Eastern Ladakh, Ministry of External Affairs said the two countries have agreed to "peacefully" resolve the situation in the border areas by continuing the military and diplomatic engagements.

The Indian delegation led by 14 Corps Commander Lt Gen Harinder Singh on Saturday met his Chinese equivalent Maj Gen Liu Lin, who is the commander of South Xinjiang Military Region of the Chinese People's Liberation Army, to address the ongoing tussle in Eastern Ladakh.

In a statement on Sunday, the MEA said that the meeting between the Corps Commander based in Leh and the Chinese Commander took place in a "cordial and positive atmosphere".

"Both sides agreed to peacefully resolve the situation in the border areas in accordance with various bilateral agreements and keeping in view the agreement between the leaders that peace and tranquillity in the India-China border regions is essential for the overall development of bilateral relations," the statement read.

They also noted that this year marked the 70th anniversary of the establishment of diplomatic relations between the two countries and agreed that an early resolution would contribute to the further development of the relationship.

"Accordingly, the two sides will continue the military and diplomatic engagements to resolve the situation and to ensure peace and tranquillity in the border areas," it further read.

China has moved its troops along the Line of Actual Control (LAC) in the Eastern Ladakh areas including the Finger area, Pangong Tso Lake, and Galwan Nala area.

The meeting between military commanders was to discuss and resolve the stand-off in Eastern Ladakh.

Following the meeting, the Army Headquarters' Directorate General of Military Operations also briefed the Ministry of External Affairs and other concerned government officials about the discussions.

On Friday, officials of India and China interacted through video-conferencing with the two sides agreeing that they should handle "their differences through peaceful discussion" while respecting each other's sensitivities and concerns and not allowing them to become disputes in accordance with the guidance provided by the leadership.

In the last few days, there has not been any major movement of the PLA troops at the multiple sites where it has stationed itself along the LAC opposite Indian forces.

The Chinese Army's intent to carry out deeper incursions was checked by the Indian security forces by quick deployment.

The Chinese have also brought in heavy vehicles with artillery guns and infantry combat vehicles in their rear positions close to the Indian territory.

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