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 22,2020

New Delhi, Jan 22: The BJP on Wednesday cited statements of several opposition leaders to accuse them of "abusing" Hindus for their appeasement politics and referred to the Congress as "Muslim League Congress".

Seeking apologies from Congress president Sonia Gandhi and NCP chief Sharad Pawar, BJP spokesperson Sambit Patra said leaders of these parties have used the ongoing protests against the amended citizenship law to "abuse" Hindus.

Chavan has said in a public meeting that the Congress decided to join hands with the Shiv Sena to form government in Maharashtra as Muslims wanted the party to stop the BJP, Patra stated, claiming that it shows the opposition party has nothing to do with people belonging to other religions, including Hindus.

Patra also referred to a statement from an NCP leader to attack the opposition.

Asked about Congress leader Mallikarjun Kharge's reported jibe at the RSS for its "non-participation" in the freedom movement, the BJP leader shot back, asking if parents of Sonia Gandhi, who is of Italian origin, had fought in India's independence struggle.

The Indian National Congress, he said referring to the opposition party's full name, should be called "Muslim League Congress".

Comments

Keshu
 - 
Thursday, 23 Jan 2020

LOL...this is a waste body

This guy cannot even debate with Kanaiah kumar.

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News Network
January 2,2020

United Nations, Jan 2: Nearly 400,000 babies were born around the world on New Year's Day with India recording the highest number of these births worldwide at 67,385, the UN children's agency said.

An estimated 392,078 babies were born around the world on New Year's Day, according to UNICEF. Of this, an estimated 67,385 babies were born in India, the most globally. China comes in second with 46,299 births.

The beginning of a new year and a new decade is an opportunity to reflect on our hopes and aspirations not only for our future, but the future of those who will come after us,” UNICEF Executive Director Henrietta Fore said.

As the calendar flips each January, we are reminded of all the possibility and potential of each child embarking on her or his life's journey—if they are just given that chance.”

Fiji in the Pacific most likely delivered 2020's first baby, while the US, the last of the New Year's Day. Globally, over half of these births were estimated to have taken place in eight countries - India (67,385), China (46,299), Nigeria (26,039), Pakistan (16,787), Indonesia (13,020), United States of America (10,452), Democratic Republic of Congo (10,247) and Ethiopia (8,493).

Each January, UNICEF celebrates babies born on New Year's Day, an auspicious day for child birth around the world, it said. However, for millions of newborns around the world, the day of their birth is far less auspicious.

In 2018, 2.5 million newborns died in just their first month of life; about a third of them on the first day of life. Among those children, most died from preventable causes such as premature birth, complications during delivery, and infections like sepsis. In addition, more than 2.5 million babies are born dead each year.

UNICEF said over the past three decades, the world has seen remarkable progress in child survival, cutting the number of children worldwide who die before their fifth birthday by more than half. But there has been slower progress for newborns. Babies dying in the first month accounted for 47 per cent of all deaths among children under five in 2018, up from 40 per cent in 1990.

UNICEF's Every Child Alive campaign calls for immediate investment in health workers with the right training, who are equipped with the right medicines to ensure every mother and newborn is cared for by a safe pair of hands to prevent and treat complications during pregnancy, delivery and birth.

Too many mothers and newborns are not being cared for by a trained and equipped midwife or nurse, and the results are devastating,” said Fore. “We can ensure that millions of babies survive their first day and live into this decade and beyond if every one of them is born into a safe pair of hands.”

India is projected to surpass China as the world's most populous country around 2027. According to UN estimates, India is expected to add nearly 273 million people between 2019 and 2050, while the population of Nigeria is projected to grow by 200 million. Together, these two countries could account for 23 per cent of the global population increase to 2050.

China, with 1.43 billion people in 2019, and India, with 1.37 billion, have long been the two most populous countries of the world, comprising 19 and 18 per cent, respectively, of the global total in 2019. Through the end of the century, India is estimated to remain the world's most populous country with nearly 1.5 billion inhabitants, followed by China with just under 1.1 billion, Nigeria with 733 million, the US with 434 million, and Pakistan with 403 million inhabitants.

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News Network
April 23,2020

Riyadh, Apr 22: In an extraordinary initiative, the government of the Kingdom of Saudi Arabia has decided to facilitate the travel of expatriates who have an exit and reentry visa or final exit visa to return to their countries.

This is in line with the order of Custodian of the Two Holy Mosques King Salman, according to the Saudi Press Agency.

According to the initiative, called “Auda” (return), expatriates can apply seeking permission for travel to their countries through the Absher portal of the ministry.

Announcing this, Saudi's Ministry of Interior said that the initiative will be implemented in cooperation with a number of relevant government agencies.

Requests for travel from expatriates will be received and approved in coordination with the relevant authorities to complete their travel procedures on board international flights.

As per the initiative, a text message will be sent to the beneficiary stating the travel date, ticket number and reservation details, and by which the beneficiary can obtain his travel ticket and complete the travel procedures.

Clarifying the procedures for the travel, the ministry said that the applicant shall select the icon (Auda) after visiting the Absher portal and fill the following fields: iqama (residency permit) number, date of birth, mobile number, departure city and airport of arrival.

It is not mandatory for the expatriate to have his own Absher account for availing of the service, the ministry said, adding that this facility is to enable expatriates to benefit from this initiative.

The departure will be through the following airports: King Khalid International Airport in Riyadh, King Abdulaziz International Airport in Jeddah, Prince Muhammad International Airport in Madinah, and King Fahd International Airport in Dammam.

Those expatriates who are outside these cities can benefit from the service through entering airport of departure after completion of their travel procedures in sufficient period of time.

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