Kasaragod, Feb 15: A Class 10 student committed suicide here on Tuesday, a day ahead of the model examination scheduled for Wednesday.
He took the extreme step after leaving his house informing his family that he had to attend a function on Shivaratri day.
He was found dead hanging from a tree on his residential premises late in the evening.
Abu Dhabi, Feb 17: NMC Health Plc, a hospital operator targeted by short-seller Muddy Waters, said founder Bavaguthu Raghuram Shetty resigned amid investor concern he faced a margin call and misrepresented his stake.
The board asked for Co-Chairman Shetty’s resignation and it takes effect immediately, according to a person with knowledge of the situation. NMC has lost four board members since Friday, including Vice Chairman Khaleefa Butti, whose holdings are also being probed. The stock, the worst performer on the FTSE-100 Index this year, fell as much as 9.2 percent Monday morning and then rebounded.
“The resignation of senior board members should be viewed positively,” said Abdulla Nahlawi, an analyst at Rasmala Investment Bank in Dubai. “The credibility of the current board has been jeopardized with the unfolding of the recent events.”
NMC shares lost almost half their value the first week of February on speculation the company’s main investors faced a margin call, in which banks seize shares pledged as collateral. NMC said Friday that First Abu Dhabi Bank and Al Salam Bank Bahrain obtained 20 million shares in the company from BRS International Holding, an investment vehicle of NMC’s top shareholders. The banks sold more than 8 million of those shares as “enforcement of security,” NMC said.
NMC operates the largest medical network in the United Arab Emirates and in 2012 became the first Abu Dhabi company to list in London. The shares started teetering in mid-December when Muddy Waters alleged that NMC manipulated its balance sheet and inflated the prices of companies it acquired.
Shetty, 77, was born in India and founded NMC in the 1970s after moving to Abu Dhabi. His spokesman said a legal review of the situation is ongoing and declined further comment.
Chief Investment Officer Hani Buttikhi and board member Abdulrahman Basaddiq also stepped down because they were appointees of Shetty and Butti, NMC said, adding that they had no knowledge of the share transfers.
Questions remain over the role of Shetty’s family at the company. His wife and son-in-law both hold roles in senior management.
Almost 10 per cent of NMC’s freely traded shares are shorted, according to Markit Securities data. In mid-December about a third of them were.
Last week GKSD Investment, an investment company backed by hospital investors, said it’s studying a possible offer for NMC. Under U.K. takeover rules, it has until March 9 to make a bid.
NMC has said Muddy Waters’s claims are false and the company hired former FBI Director Louis Freeh to conduct an independent review. The review is due to be completed before the company issues its financial results in March, the person said.
NMC said Mark Tompkins will continue as the company’s sole chairman.
BRS could not fool all the people all the time!
Illegal way of earning will not last for long.
Mangaluru, Jun 16: Dakshina Kannada today reported 79 fresh covid-19 cases, taking the total infections in the coastal district to 370.
Out of the 79 positive cases, 75 persons had returned from Saudi Arabia. All of them have been shifted to the designated COVID hospital in Mangaluru for treatment.
As many as 11 persons today discharged from the hospital taking the total number of discharges to 145. There are 217 active cases in the district.
Udupi district today reported 7 new covid cases taking the total to 1035. Among them 817 have discharged from the hospitals including today’s 81. The number of active cases is 217.
Bengaluru, May 26: The Karnataka government has decided cancel summer vacation for undergraduate and post-graduate students and universities during the 2020-21 academic year in the wake of severe academic loss due to COVID-19 lockdown.
Keeping in mind the loss of academic days due to the lockdown to contain the pandemic, the Higher Education Department has decided to go in for ‘Zero Vacation’.
The state government decided to cancel all holidays particularly the summer holidays after holding a series of meetings with the Vice Chancellors and other academicians from various parts of the state.
The decision was also communicated during the review meeting of the Higher Education Department held by CM Yediyurappa on Tuesday in Bengaluru.
Comments
Our religion not supporting suicide. Come and join in our religion. free from unwanted extreme steps
Shocking.. Rest in peace
Too young. How he got courage to do this extreme action. Strange
If he spoke to his parents, they might prevent suicide and console him. Primary evidences shows he hadnt proper talking term with his parents or he scared to tell everthing to his parents.
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