Mangaluru: Kanachur Islamic Education Trust launches paramedical courses

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, Feb 9: The Karnataka Health and Family Welfare Services Department has kept 138 persons across the state under observation in the wake of novel coronavirus (nCov) scare, a health official said on Saturday.

"We are observing 138 people across the state, including in Bengaluru," the department's Communicable Diseases Wing Joint Director Prakash Kumar told news agency.

Though no coronavirus-positive case has been reported from Karnataka so far, four persons have been admitted in a state hospital under medical observation, Kumar confirmed.

Of the 104 samples sent for testing from the state, 85 have, so far, been declared negative. As many as 130 persons in the state were kept under home-isolation observation.

Four Karnataka districts bordering Kerala — Kodagu, Mangluru, Chamarajanagar and Mysuru — continue to be under surveillance after three positive coronavirus cases were reported in Kerala.

On Saturday, it was reported that three persons from Udupi were isolated at the Ajjarkad Government Hospital. Two of them had travelled to China while the other had returned to Udupi from Japan.

From January 20 till Saturday, 14,153 passengers underwent thermal screening at the Kempegowda International Airport, including three who had a history of visiting China’s Wuhan, the epicenter of the nCoV outbreak.

The '104 Arogya Sahayavani' call centre, which people can call for guidance on coronavirus, has clocked 1,792 calls so far.

"In case people with recent travel history to China and other affected countries develop any symptoms, they are requested to call 104 or health authorities and provide all necessary details in order to take necessary measures and are requested to be quarantined at home," reiterated the department.

Three confirmed cases of coronavirus were earlier reported in Kerala and over 722 deaths were confirmed around the world, mostly in mainland China.

Bengaluru, Apr 26: Three new cases of COVID-19 have been reported in Karnataka in the last 24 hours, taking the total number of cases in the state to 503 as per Karnataka government.

There are 302 active COVID-19 cases in Karnataka presently, while 182 patients have been discharged, 19 deaths have been reported, state government informed.

The total number of positive coronavirus cases across the country are 26,917, including 20,177 active cases of the virus. So far, 5,913 patients have either been cured or discharged while 826 deaths have been recorded in the country, as per data provided by the Union Ministry of Health and Family Welfare.