Abu Dhabi-based NMC Healthcare has reportedly received bids to sell its distribution unit and will soon be selling it to different parties.
The development comes over three months after NMC Healthcare’s founder and then-chairman B R Shetty stepped down amid allegations of massive fraud.
The company, which recently laid off hundreds of workers, is offloading stake in the subsidiary as it is considered non-core and requires substantially high working capital to run the operations. In addition, this stake sale will help the company pay off some of its debt
"There are parties who have strong interest in the distribution business. NMC will be offloading the unit soon and that also to different parties," a source said.
"The company is in the process of exploring options for NMC Trading, the group's distribution business, which it has determined to be non-core and requiring substantial levels of working capital. The process should not materially adversely impact distributors' activities, nor NMC Trading's customers," an NMC Healthcare spokeswoman said.
The UK-court has appointed Alvarez & Marsal as administrator to oversee the operations of the debt-ridden hospital operator. The healthcare firm has been caught in a whirlpool of $6.6 billion debt while its senior former high management team is under investigation for financial irregularities.
The UAE Central Bank has direct local banks to freeze all bank accounts of NMC founder BR Shetty and his family members as well as accounts of those companies where he has a stake. The Central Bank move is subsequent to a criminal complaint filed by Abu Dhabi Commercial Bank, which has the largest exposure to NMC Healthcare, amounting Dh3 billion.
As the company faces financial difficulties, Reuters reported that NMC Health delayed May staff salaries and now expects to complete making payments by the first week of June.
The spokeswoman said: "The company has been in regular dialogue with its creditor constituencies through various creditor committees, including the direct bank lenders to its NMC Trading businesses."
Comments
All these because of lacking of knowledge of fundamentals of Islam.
Islam is perfectly taught with boundaries for what to be done and what not to be done.
What to be done are : Farz, or obligatory deeds
What may be done : N compulsion, but doing can lead for extra reward
Not to be done Prohibitions : These should not be done. Like Associating someone with the True God who created us who only deserves to be worshipped. This is a biggest crime in Islamic point of view. Other prohibitions are eating pork, liquors, adultery, gambling,
Now the things what happening mostly in Dargah are worshipping the graves, which is the biggest crime. This is forbidden to both men and women. People can visit the dargah and pray for the dead people in that grave. But begging the dead there is prohibited.
Really those dead bodies can not help us, in contrary those bodies need prayers, wishes of living people.
We can visit the dargah in the intention to pray for the dead in the grave and to say Salam. Doing like this properly is not sin.
Wrongly Visiting Dargah can mislead to sin,
And not visiting Dargah does not amount to sin.
Therefore people lack basic teaching of Islam.
A MUSLIMAH ( True Muslim Women) will never ask with any other creation EXCEPT ALLAH... Those who depend on other than ALLAH will get what they want but in the end they will fall for the trap of deceivers who are attracting the people who are WEAK in IMAN to their way of worshiping the graves or asking with the graves.
THOSE who have faith in ALLAH will never ask or depend on, other than ALLAH. They are Satisfied with what ALLAH gave and Say ALHAMDULLILLAH in whatever situation comes their way... Congrats to such MUSLIMS and MUSlIMAH who trust ALLAH and follow the teaching of Prophet Muhammad pbuh... who never showed us Such CULTURE of DARGAH ViSIT..
Prophet MUHAMMED pbuh said... Visit GRAVES to Pray for the one who is in the GRAVE & REMEMBER that one day our fate will be same. So dont live in this life in ARROGANT or do injustice to Others.
Dear Sahil, if they knows the meaning of Namaz or Salah they never visit Dargah. Here may be RSS behind such kind of demands.
These so called muslim women don't know Islam. so they are asking entry to Dargah/Grave yard. Who stop them to go there go and enjoy.CD Editor please remove Muslim woman tag because muslim women never ask such kind of demands.Better tag Ahle biddah women ask entry to darga.
They dont bother about namaz..but worried about entry to do shirq
Haha..funny..they dont bother about performing namaz..
But worried about entry to dargah to do shirq..
Dear CD team. Please be careful when you posting one sided opinion about practice of Islam. You have reader from all sections.
REALLY SURPRISED TO SEEE THESE MUSLIM LADIES IN ROAD PROTESTING FOR ENTERING THE DARGAH ,
FIRST THEY HAVE TO OFFER NAMAZ PERFECTLY I DONT KNOW WHAT THEY WILL GET IN DARGAH ....
THEY JUST VISIT TO ASK TO THEM.. THATS NOT GOOD WE HAVE TO ASK WITH ALLAH HE IS OUR ALL MIGHTY ..
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