I can understand Siddu's pain, I too have lost my son: Sadananda Gowda

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."

Vijayapura, June 16: Even as a video of a man wearing a burqa who is being thrashed by locals is going viral on social media, netizens targeted Bharatiya Janata Party for their activist resorting to heinous acts. 

The man who was caught in burqa has been identified as Siddu Paragond, an activist of Snagh Parivar hailing from Sindgi town in Karnataka’s Vijayapura district. 

The bizarre incident took place in Sindgi on June 11 outside a bank.

“While people including women were standing in a queue outside the bank, the person in burqa was acting in a suspicious manner. The person was trying to get too close to women which was making them feel awkward,” local residents said.

“Getting suspicious, some locals tried to interact and their suspicion rose with the strange behaviour of the person. Suddenly some men took the person away from the bank and checked only to find that it was a man in burqa. The men thrashed him and handed him over to police,” the sources said.

Confirming this, Superintendent of Police Anupam Agrawal said that the Siddu Paragond has been arrested and remanded to judicial custody. He, however, made it clear that no suspicious objects were found on Siddu. “We are trying to find out the motive for his act,” the SP said.

Kasaragod, Mar 31: The latest incidents of critically-ill patients dying due to lack of medical attention has been a cause of concern for the people here who had largely been depended on hospitals in Mangalore.

However the lock down has hindered follow-up treatment for these critically ill as the Karnataka authorities has been steadfast in restricting entry into their land.

The people of Kasaragod has been largely depended on the medical facilities in Mangalore for critical illness care. It was the gross inadequacies in critical healthcare in the district besides rather-easy proximity to nearby and bigger town that many residing on the north-east of the district have since long been making it to Mangalore for treatment of critical illness like cancer, dialysis and the alike.