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.

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
May 22,2020

Riyadh, May 22: The family of murdered Saudi journalist Jamal Khashoggi on Friday said that they forgave his killers. Washington Post journalist Jamal Khashoggi, who had written columns critical of Saudi Arabia, was brutally killed in October 2018, allegedly at the behest of Crown Prince Mohammad bin Salman.

“In this blessed night of the blessed month [of Ramadan] we remember God’s saying: If a person forgives and makes reconciliation, his reward is due from Allah,” Jamal Khashoggi’s son Salah Khashoggi said in a tweet. “Therefore, we the sons of the Martyr Jamal Khashoggi announce that we pardon those who killed our father, seeking reward [from] God almighty.”

The legal outcome of this announcement is not yet clear. Earlier, Salah Khashoggi said he had “full confidence” in the judicial system, and that the accused were trying to exploit the case.

Jamal Khashoggi’s body was said to have been dismembered inside the Saudi consulate in Istanbul and disposed of elsewhere, but his remains were never found.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
March 23,2020

Riyadh, Mar 23: King Salman on Sunday issued an order imposing a curfew across Saudi Arabia from Monday evening to control the spread of the COVID-19 disease.

A royal court statement carried by the Saudi Press Agency (SPA) said the curfew will start at 7 p.m. until 6 a.m. every day for 21 days from the evening of 28 Rajab 1441 in the Hijri calendar, equivalent to March 23, 2020 in the Gregorian calendar.

King Salman's order followed an announcement by the Health Ministry of 119 new coronavirus cases on Sunday, raising the total number in the Kingdom to 511.

The order enjoins citizens and residents alike to stay in their homes during the curfew hours for their own safety.

The statement said the Ministry of Interior will undertake the necessary measures to implement the curfew, and all civil and military authorities are ordered to cooperate fully.

Exclusions

A subsequent statement issued by the Ministry of Interior and carried by SPA said those excluded from the curfew are workers from the following vital industries and government services:

• Food sector (points of sale) such as catering and supermarkets And poultry and vegetable shops, meat, bakeries, food factories and laboratories;

• Health sector, such as pharmacies and the like, medical clinics (dispensaries), hospitals, laboratories, factories, factories and materials and medical devices;

• Media sector in its various means;

• Transportation sector, such as those transporting goods, parcels, customs clearance, warehouses, warehouses, logistics services, supply chains for the health sector, the food sector, and port operations;

• E-commerce activities such as those working in the electronic procurement applications for the excluded activities and those working in the delivery applications of the excluded activities;

• Accommodation services activities such as hotels and furnished apartments;

• Energy sector such as gas stations and emergency services for the electric company;

• Financial services and insurance sector, such as direct accidents (Najm), urgent health insurance services (approvals), and other insurance services;

• Telecom sector as Internet and communication network operators;

• Water sector, such as the water company emergency services and home drinking water delivery service (graying).

Additional exclusions

The Interior Ministry statement also said movement during the curfew time will be allowed for security, military and health cars, government regulatory services vehicles, and activity vehicles excluded in the vital industries and services mentioned above. 

Delivery services through smart device applications (express delivery services) during the curfew will be allowed for food and drug needs and other essential goods and services that are excluded and delivered to homes. Excluded activities can be known by calling the toll-free number in all regions of the Kingdom 999, except for the Makkah Al-Mukarramah region, which is called at 911.

Muezzins will be allowed to access mosques to lift the call to prayer at the time of the curfew.

Workers in diplomatic missions and international organizations and the like residing in the Diplomatic Quarter will be allowed to move during the curfew period to and from their business headquarters in the neighborhood.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 14,2020

Jaipur, Jul 14: Sachin Pilot has been removed as Deputy Chief Minister and Rajasthan PCC Chief, announced Congress leader Randeep Singh Surjewala on Tuesday.

"Sachin Pilot, Vishvendra Singh and Ramesh Meena have been removed from the posts of Deputy Chief Minister and Ministerial posts respectively. Sachin Pilot has also been removed as the Rajasthan PCC Chief," said Surjewala.

Govind Singh Dotasra has been appointed as the new PCC chief, he added.

"Sachin Pilot, few Congress Ministers and MLAs got involved in the conspiracy to topple the Congress government by getting entangled within the trap of BJP," he added.

The decision was taken after a Congress Legislature Party (CLP) meeting at the Fairmont Hotel in Jaipur, Rajasthan earlier today.

The Rajasthan Congress is in turmoil over the past few days. While Chief Minister Ashok Gehlot has blamed the BJP for attempting to destabilise the State government by poaching MLAs, Deputy Chief Minister Sachin Pilot has been camping in Delhi.

A controversy broke out in Rajasthan after Special Operation Group (SOG) sent a notice to Pilot to record his statement in the case registered by SOG in the alleged poaching of Congress MLAs in the State.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.