Saudi bizman Bhaskar Shetty murdered by wife, son in Udupi with priest's help

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."

Gadag, May 9: It is the month of April, and the season of mangoes is very much here. However, the mango farmers of Gadag are suffering huge losses amid the coronavirus lockdown due to the absence of transportation facilities along with several other issues that have been impacting their business adversely.

Speaking to media persons, Vishwanath Odugowdar, a mango farmer said, "Due to transportation problems we are not being able to export mangoes to different countries. We are trying to sell them in nearby markets."

"We are not in a situation to pack, transport and export the mangoes to different countries as we did earlier especially 
when it comes to Alphonso mangoes which is one of the most loved varieties. So, we are packing mangoes at our place. Somehow this year we have got very good quality of mangoes," he added.

Farmers here are incurring huge losses as mandis and markets across the country are shut while the transport of Alphonso mangoes has also come to a halt owing to the lockdown.

The small and medium scale farmers in places like Gadag, Dharwad, Bagalkote in north Karnataka have started packing the mangoes themselves in their farms in a bid to sell the fruit themselves.

Nanded, May 24: In a sensational incident, a Lingayat seer from Karnataka was found murdered in his mutt in the Nanded district of Marathwada region of Maharashtra on Sunday.

The seer, who was strangled to death, has been identified as Shivacharya Nirvanarudra Pashupatinath Maharaj, the founder-spiritual head of Nirvanji Pashupatinath Mutt.

Addressing media persons, Nanded Superintendent of Police Vijaykumar Magar, the prime suspect, Sainath Langote first killed his accomplice Bhagwan Shinde and then went to the ashram late on Saturday.

He entered Shivaharya Maharaj's bedroom where he was resting and threw chilli powder in his eyes, blinding him.

Then he quickly grabbed cash of Rs 69,000, his laptop and other valuables in the bedroom worth approximately Rs.1.50 lakh, besides the seer's car keys.

As Shivacharya Maharaj attempted to grapple with him, Langote pinned him down and strangled him, then dragged his body to the sadhu's car parked outside and dumped it into the boot.

"He started the car and sped off towards the road outside, but the car crashed into the main gate of the ashram creating a noise, alerting the other sevaks sleeping inside the ashram," Magar said.

Around 8-10 other ashram sevaks rushed outside to check the ruckus and when they saw their seer's belongings and his body in the car trunck, they attempted to stop Langote, but he gave them the slip.

A short distance away, Langote managed to steal a motorbike and sped off into the darkness and hours later, the police found the body of his accomplice Shinde from a nearby school premises, Magar said.

In view of the sensitivity of the incident, Magar said around five crack teams were formed which fanned out into the district and managed to catch Langote this afternoon.

"The prima facie motive for the seer's murder was clearly robbery and the second killing could be due to rivalry or some differences among them. The absconder suspect has been caught by a police team. We will interrogate him and get further details of the crime," Magar said.

Nanded Congress strongman and PWD Minister Ashok Chavan appealed that the murder should not be politicized, since the police investigations are underway and the autopsy report is awaited.

He said the deceased sadhu belonged to the Lingayat caste, and both Shinde and Langote who belonged to the same community were his followers.

Shivacharya Maharaj had come to Nanded over a decade ago and set up the ashram which he ran along with a band of followers.