DK Muslim Association' launched to help bereaved Muslim families

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, Apr 15: The Opposition Congress in Karnataka on Wednesday accused the BJP government, headed by Chief Minister B S Yediyurappa, of showing discrimination in distribution of relief material to those affected by the lockdown, clamped to check the spread of Novel Coronavirus, by favouring constituencies represented by the ruling BJP Legislators.

Despite that, the party intends to extend full cooperation to the government during this hour of crisis without indulging in politics, it urged the administration to be “transparent”.

''We have had our (Congress) Task Force meeting today, during which we discussed several matters. There is a lot of difference between the government's talk and its deeds,'' KPCC President D K Shivakumar said.

Udupi, Jan 26: The late seer of Pejawar Mutt Vishwesha Tirtha Swami has been posthumously honoured with Padma Vibhushan for his contribution to spiritualism.

The seer, who passed away in December last, was known as a Hindu reformist spiritual leader.

He was also among the religious heads to be in the forefront of the Ram Janmabhoomi movement and was a vocal proponent for the construction of a Ram temple at Ayodhya.