Over 100 taken ill after consuming temple prasada'

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."

Mangaluru, Apr 1: Dakshina Kannada District in-charge minister Kota Srinivas Poojary on Tuesday announced that essential shops including grocery stores, fruits and vegetable shops will be allowed to open from Wednesday between 0700 hrs to 1200 hrs across the district.

Speaking at a press conference, he said that Milk, Medical, Gas distribution, Petrol Bunks, Banks will be opened as usual, he informed adding that Central Market and the Suratkal Market will remain closed.

With the Dakshin Kannada district administration relaxing the lockdown from 0600 hrs to 1500 hrs to purchase essential commodities, panic-stricken citizens rushed to the shops early in the morning itself.

Bengaluru, Jul 1: Karnataka registered a record 1,272 Covid positive cases to breach the 16,000- mark to take the states tally to 16,514, while seven people succumbed to the dreaded virus, an official said on Wednesday.

"New cases reported from Tuesday 5 p.m. to Wednesday 5 p.m. 1,272," said a health official.

In the past 24 hours, seven people have succumbed to the virus, two each in Bengaluru Urban and Bidar and one each in Dakshina Kannada, Belagavi and Hassan, taking the state''s death toll to 253.

Of the record number of cases in the last 24 hours, Bengaluru Urban bore the brunt with 735 infections, taking the city''s tally rise to 5,290, out of which 4,649 are active cases.

Among the new cases, excluding Bengaluru, Ballari accounted for 85, followed by Dakshina Kannada (84), Dharwad (35), Bengaluru Rural (29), Vijayapura and Hassan (28 each), Uttara Kannada (23) and Udupi (22).

Chamarajanagar witnessed 21 cases, followed by Bagalkote (20), Tumkur (19), Davangere (16), Chikkaballapura (15), Kalaburagi and Ramanagara (14 each), Koppal (13), Raichur and Chitradurga (12 each), Yadgir, Bidar and Belagavi (8 each), Kodagu (7), Mandya and Kolar (5 each), Shivamogga (3), Gadag (2) and Chikkamagaluru (1).

Of the 1,272 new cases, 1,068 or 84 per cent are contacts of earlier cases while domestic returnees accounted for 42 cases or 3 per cent.

On Wednesday, 145 people got discharged from different hospitals, elevating the total number discharges to 8,063.

Of the 16,514 cases in Karnataka, 8,194 are active cases.