Baraguru Ramachandrappa to chair 82nd Kannada Sahitya Sammelan

Newsroom, Apr 30: Beleaguered billionaire B R Shetty, who went into hiding after after a multi-billion fraud at UAE-based NMC Health came to light, has now put the blame on his companies employees.

The former chairman of the Abu Dhabi headquartered hospital operator said, investigations he commissioned found following things:

1. The fraudulent creation and operating of bank accounts in my name including many fraudulent transfers that I neither authorised, consented to, or had any knowledge of.

2. The fraudulent creation of loans, personal guarantees, cheques and bank transfers in my name, and using my forged signature, that I neither authorised, consented to, or had any knowledge of.

3. The creation and set-up of companies in my name that I neither authorised, consented to, or had any knowledge of, and that were seemingly created with the express intention to commit or conceal fraud.

4. The fraudulent creation of powers of attorney, and the misuse of existing powers of attorney, again in my name, that I that I neither authorised, consented to, or had any knowledge of.

5. The creation and provision to me of false and misleading financial statements and information regarding the performance of some of my private companies and investments by members of my own management team.

6. The payments of expenses using my private companies and personal bank accounts, I believe to hide the true financials of the public companies."

This is the first time Dr. Shetty, who is reportedly hiding in India for the last couple of months, issued a statement based on investigations he commissioned privately. He had brought in a consultancy to conduct it after initial revelations came to light that NMC Health had not been fully transparent with its finances.

Dr. Shetty had stepped down as executive chairman after the then Board of Directors barred him from attending any meetings. “I intend to work tirelessly to clear my name and assist any authorities in getting to the truth and help them ensure that misappropriated or missing funds are returned by the perpetrators to their rightful owners,” said Dr. Shetty.

This month, ADCB, which has the highest exposure among UAE banks to NMC Health, brought charges against five former officials, including ex-board of directors, with Abu Dhabi prosecution. The former CEOs of NMC Health and Finablr are also currently not in the UAE.

Mysuru, Jan 27: Chief minister BS Yediyurappa on Sunday refused to field questions on the state’s finances, merely saying his budget on March 5 will do the talking. The question came in the wake of Siddaramaiah, leader of the opposition, claiming recently that the state’s coffers were dry and its finances were in the doldrums.

However, Yediyurappa insisted the state’s finances were sound and it will be better once promises made by the business community during his trip to Davos turn into concrete investment.

“I will present the budget for 2020-21 on March 5. People will then know about the state’s financial position,” Yediyurappa said during a visit to Suttur Mutt on Sunday. “I will answer Siddaramaiah’s comments during the forthcoming budget session of the state legislature. The Davos meet I attended will benefit the state immensely. It will bring huge investments that will promote industry and agriculture growth and various job-generation activities.”

Bengaluru, Mar 23: Karnataka government today decided to go for complete lockdown. This includes the closure of all non essential government offices, suspension of all public transport services and banning of mass prayers in places of worships across the state.

Chief Minister BS Yediyurappa had expressed the need for a complete lockdown like the Janta Curfew on Sunday. Going by this, there will be no government transport services at least till March 31 and as many as 19,000 government buses will be off the road.

The government also decided to cancel the famous Karaga festival. The CM said that all celebrations and functions will be called off along with mass prayers in mosques and churches.

The CM said that they have decided to procure 1,000 ventilators and 10 lakh face masks in addition to other health equipments.

Private hospitals have come forward to spare their doctors and nursing staff to attend to Covid-19 patients in government hospitals, the CM said.

Yediyurappa also said that he has directed the health department to paste notification on the houses of residents who are infected with coronavirus. This is being done after people with indelible seals and home quarantined are reported to be roaming freely. The notifications will help neighbours to keep an eye on them.

The CM said the government-run Indira Canteen will serve free food to the poor until the lockdown continues. He also said that action will be initiated against non essential shops that are open despite a directive to shut down.