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
March 16,2020

New Delhi, Mar 16: A total of 110 cases of coronavirus, including 17 foreign nationals have been confirmed across India, Union Ministry of Health and Family Welfare said on Sunday.

The maximum positive cases have been reported from Maharashtra (32), followed by Kerala (22).

The total number of passengers screened at airports is 12,76,046, the ministry said.

The World Health Organisation (WHO) has declared that Europe has become the new 'epicentre' of the coronavirus pandemic that has infected more than 15 lakh people with over 6,000 deaths globally.

The virus had first emerged in China's Wuhan city in December last year.

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News Network
March 21,2020

Beijing, Mar 21: China reported no domestically transmitted coronavirus cases for the third consecutive day even as seven more fatalities have been confirmed, taking the death toll in the country to 3255.

No new domestically transmitted cases of COVID-19 were reported on the Chinese mainland for the third day in a row on Friday, China's National Health Commission (NHC) said on Saturday.

The overall confirmed cases on the mainland had reached 81,008 by the end of Friday, which included 3,255 who died, 6,013 patients still undergoing treatment, 71,740 patients who had been discharged after recovery, the NHC said.

The NHC said 41 new confirmed COVID-19 cases were reported on the Chinese mainland on Friday from the people arriving from abroad, taking the total number of imported cases to 269.

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News Network
January 31,2020

New Delhi, Jan 31: Slamming the BJP over the Jamia firing incident, Congress leader Priyanka Gandhi Vadra on Friday said such incidents were possible with the ruling party's leaders inciting people to shoot, and asked Prime minister Narendra Modi to answer whether he stands with violence or non-violence.   

Her attack on the government comes a day after tensions in the Jamia area spiralled on Thursday after a man fired a pistol at a group of anti-CAA protesters, injuring a student, before walking away while waving the firearm above his head and shouting "Yeh lo aazadi" amid heavy police presence in the area.

"When the BJP government ministers and party leaders incite people to shoot, give provocative speeches, then all this becomes possible. The Prime Minister should answer what kind of a Delhi he wants to build?" Priyanka Gandhi said in a tweet in Hindi.

Does the PM stand with violence or non-violence, she asked.

"Does he stand with development or with anarchy?" the Congress general secretary said.

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