Body of Dadri MURDER ACCUSED kept under tricolour; Rs 1-cr demanded

Bengaluru, Jun 23: In an attempt to avoid exploitation of patients affected with coronavirus, the Karnataka government on Tuesday announced fixing charges that could be collected from patients by the private hospitals for treatment in the State.

There are now two sets of rates for patients--those who are referred by public health facilities and those who approach private hospitals directly.

According to the notification issued by State Chief Secretary TM Vijay Bhaskar on Tuesday, 50 per cent of the total beds in private hospitals having facilities to treat Covid-19 patients shall be reserved for the treatment of patients referred by public health authorities.

This will include the high-dependency unit and ICU (intensive care unit) beds both with and without ventilators. The hospitals may utilise the remaining Covid beds for admitting Covid-19 patients privately.

Dubai, Jul 25: The founder of NMC Health, BR Shetty, has had a worldwide freezing order placed on his assets at the request of a lender that claims he has defaulted on a loan of more than $8 million (Dh29.4m).

The order was granted to Credit Europe Bank (Dubai) last month ahead of a claim filed at the DIFC Courts against Mr Shetty, New Medical Centre Trading and NMC Healthcare.

The lender said in its claim they “are jointly and severally liable” for the repayment of money initially secured through a credit agreement in December 2013 and renegotiated in December last year. Credit Europe Bank is an Amsterdam-headquartered institution specialising in trade and commodities finance with operations in nine countries.

The credit agreement was guaranteed by two security cheques which the bank said in its claim were signed by Mr Shetty – one drawn on his personal account and another on the account of New Medical Centre Trading – that have been "dishonoured upon presentation due to insufficient funds".

The bank claimed Mr Shetty “has now fled the jurisdiction of the UAE to India” and that there was a risk of his “substantial” assets in the Emirates being dissipated.

The assets frozen include properties in Abu Dhabi and Dubai, as well as shares in NMC Health, Finablr, BRS Investment Holdings and other companies. It allows for up to $7,000 per week to be spent on “ordinary living expenses and reasonable sum[s] on legal advice and representation”, a DIFC Courts document granting the freezing order shows.

Credit Europe Bank declined to comment when contacted by The National, stating it does not comment on ongoing litigation proceedings. Representatives for Mr Shetty and for NMC Healthcare, which is now being run by administrators Alvarez & Marsal, also declined to comment.

NMC Healthcare was founded by Mr Shetty in 1975 and grew from a single hospital into the UAE’s biggest privately-owned healthcare operator, which employed 2,000 doctors and 20,000 other staff. The company was listed on the London stock exchange and at its peak was valued at £8.58 billion (Dh40bn). However, its shares slumped after short seller Muddy Waters Research issued a report in December 2019 alleging the company had inflated its cash balances, overpaid for assets and understated its debts. This led to a string of damaging revelations by the company, including the fact that its debt was materially higher – at $6.6bn – than the $2.1bn on its balance sheet. NMC Healthcare was placed into administration in April by its biggest creditor, Abu Dhabi Commercial Bank, but its UAE businesses continue to trade as a going concern.

Mr Shetty said in a statement issued in April that he has been a victim of fraud committed by "a small group of current and former executives” at companies owned by him. He said bank accounts were created in his name and transactions were made without his knowledge, and that loans, cheques and bank transfers were also fraudulently guaranteed in his name using his forged signature.

In response to the claim filed by Credit Europe Bank (Dubai) at the DIFC Courts, Mr Shetty says he did not personally guarantee loans made to NMC Trading or NMC Healthcare and that the signatures used on cheques guaranteeing the loans are forgeries. His defence cites the opinion of “Dr Al Bah, an independent, experienced and qualified forensic document examiner”, that someone other than Mr Shetty signed the lending agreements and cheques.

An application by NMC Trading and NMC Healthcare to the DIFC Courts to have the claim against it heard in private for fear of triggering claims by other lenders – the group owes money to around 80 local, regional and international lenders – was dismissed, given that the appointment of administrators at the group and allegations of fraud at the company are already in the public domain.

Both companies have indicated to DIFC Courts that they intend to contest the claim against them.

Bengaluru, Jul 21: The total number of Covid-19 cases in Karnataka breached the 70,000 mark on Tuesday as the state reported 3,649 fresh infections, while 61 fatalities took the death toll to 1,464, the health department said.

The day also saw 1,664 patients getting discharged after recovery. Out of 3,649 fresh cases reported on Tuesday, a whopping 1,714 were from Bengaluru urban alone. As of July 21 evening, cumulatively 71,069 Covid-19 cases have been confirmed in Karnataka, which includes 1,464 deaths and 25,459 discharges, the health department said in its bulletin.

It said that out of the 44,140 active cases, 43,557 patients are in isolation at designated hospitals and are stable, while 583 are in Intensive Care Units.

Twenty-two out of 61 deaths reported on Tuesday are from Bengaluru urban, followed by five each from Dakshina Kannada, Mysuru and Dharwad, four each from Kolar and Belagavi, three each from Hassan, Tumakuru and Haveri, Bidar 2, and one each from Chikkaballapura, Chikkamagaluru, Chamarajanagara, Gadag and Vijayapura.

Most of the deceased either had a history of Severe Acute Respiratory Infection (SARI) or Influenza-like illness (ILI). Out of 3,649 cases tested positive on Tuesday, contacts of the large number of the cases are still under tracing.

Among the districts where new cases were reported, Bengaluru urban accounted for 1,714, Ballari 193, Dakshina Kannada 149, Mysuru 135, Yadgir 117, Uttara Kannada 109, Hassan 107, Kolar 103, followed by others.

Bengaluru urban district topped the list of positive cases, with 34,943 infections, followed by Dakshina Kannada 3,829 and Kalaburagi 2,966. Among discharges Bengaluru urban was on top with 7,476 discharges, followed by Kalabuagi 1,834 and Udupi 1,731.

A total of 10,64,734 samples were tested so far, out of which 43,904 were tested on Tuesday alone, the bulletin said. It said that 19,328 of the 43,904 samples tested today were rapid antigen tests.