Mishap inside Mangaluru Airport claims life of CISF personnel Aslam Khan

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.

Bengaluru, Jun 29: The results of second pre-university and the Secondary School Leaving Certificate examination results will be out by July last week and August first week, Karnataka Primary and Secondary Education Minister S Suresh Kumar said on Monday.

Instead of giving general promotion to the 10th and 12th standard students as the Central Board of Secondary Education and other states have done, the Karnataka government decided to hold the examination defying the coronavirus scare.

"We are trying to get the SSLC results out by the first week of August.The PUC results will be out in the last week of July," the minister told reporters in Bengaluru.

Amid reports of schools increasing the school fees ignoring the government's direction, the minister said he has got reports that 1,150 schools have increased their fees of which action has been taken against 450 schools.

"We have directed all the schools not to increase the fees in view of the coronavirus scare.

It is a peculiar year.Humanity says no one should increase fees.

We have set up a helpline. If we come across such practices, we will initiate action," Kumar said.

He said an officer has been entrusted to look into the complaints against schools.

Speaking about online classes for kindergarten students, the minister said such classes are not allowed.

The schools can hold talks with parents twice a week about grooming their children.

Kumar said a decision on opening kindergarten schools will be taken after July 5.

He, however, conceded that most parents are unwilling to send their children to school.

The government is gathering the opinion of parents based on which a decision would be taken, he added.

Regarding education to students from Class one to Class 10, Kumar said the Centre has given guidelines, which will be followed.

The state has formed an expert committee to recommend guidelines on education to children from Class I to Class six.

"Once the committee report comes, we will formulate regulations," Kumar added.