Fisherman feared dead; search operation called off

Chikkamagaluru, Mar 8: A 20 member armed gang barged into a farmhouse at Gudde Thota near Jayapura in Koppa taluk and looted valuables and cash worth about Rs 12 lakh after assaulting the inmates, Police said on Sunday.

According to police, the culprits covered their face with masks and after assaulting watchman they broke open the main door and tied up Vijayaraghav and his wife Asha before robbing the valuables.

The culprits took away Rs 2.5 lakh in cash and valuables worth over Rs 10 lakh.

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.

Bengaluru, Apr 5: The COVID-19 related lockdown has substantially improved the air quality of Bengaluru, taking it from satisfactory level to good, a senior state pollution control board offcial said here on Sunday.

"During the course of the lockdown 19 problem, we reached good position from satisfactory.

It is between zero to 50 AQI (Air Quality Index) now. We have good quality air," the Karnataka State Pollution Control Board member secretary Basavaraj Patil told PTI.

He said the indicator for knowing the air quality in

"If the AQI is zero to 50 then it is good. If it is 50 to 100 then it is satisfactory. 101 to 150 is moderate and if it is 151 to 200, then it is poor, he explained.

Patil said as per available recrods, there has been a 60 to 65 per cent reduction in pollution during the lockdown.

The city railway station and Peenya industrial area, which used to be among the areas with highest AQI, has seen pollution levels come down significantly, he said.

Another major contributor of pollution was construction activities, which too had ground to a halt due to the lockdown, resulting in zero dust emission.

Patil opined that the improved air quality would boost the immune system of the people.

"It will improve the immune system of people, including those who have breathing problems like asthma," he said.

He asked the public to learn lessons from the lockdown and later switch to sustainable means of transport such as public transport, walking and cycling,.

"We can still reduce the pollution load even after the lockdown is over," Patil said.