PM must intervene, resolve Mahadayi deadlock, iterates Siddaramaiah

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."

Udupi, July 14: Due to rising COVID-19 cases in this district, Deputy Commissioner G Jagadeesh on Tuesday, announced that the border will be sealed down from July 15.

Speaking to newsmen here on Tuesday, he said “Inter-district travelers will not be allowed to enter Udupi for 14 days from 8 pm on Wednesday, however, we won’t be imposing complete lockdown in the district.”

The decision was taken in the meeting held in his chamber in which Legislators Haladi Srinivas Shetty (Kundapur), Sunil Kumar (Karkala), Rghupathi Bhat (Udupi), Sukumar Shetty (Byndoor), among others were present.

Thiruvananthapuram, May 22: Kerala reported its highest rise of COVID-19 cases in a single day with 42 new cases on Friday of which 23 returned from other states and 17 from abroad.

Addressing media persons, Kerala Chief Minister Pinarayi Vijayan said that of the new cases, 23 have come back from other States (Maharashtra-21, Tamil Nadu-1 and Andhra Pradesh-1) and 17 have returned from abroad (Kuwait-7, UAE-5, Saudi Arabia-2 and Qatar-2). Two are cases of local transmission including one health worker in Kasargod.

"A total of 12 persons from Kannur district, seven in Kasargod district, five each from Kozhikode and Palakkad districts, four each in Thrissur and Malappuram districts, two from Kottayam district, and one each in Kollam, Pathanamthitta and Wayanad districts are those who have tested positive, " he said.

Meanwhile, two patients under treatment for Coronavirus in Malappuram district have tested negative today. The total number of confirmed Covid-19 cases in Kerala is 732 and 216 patients are now under treatment in different hospitals. Kannur and Malappuram districts have 36 patients each, followed by 26 in Palakkad district, 21 in Kasargod district, 19 in Kozhikode district and 16 in Thrissur district.

The Chief Minister said that a 73-year-old woman had died in Thrissur district. She had recently returned from Mumbai.

There are 84,258 persons under observation across the state, 83,649 are quarantined at their homes or institutional quarantine centres and 609 are isolated in hospitals.

A total of 162 persons were admitted to hospitals today.

Till now, 51,310 samples have been sent for testing and 49,535 samples have been confirmed without any infection. Apart from this, as part of sentinel surveillance of high-risk groups, 7,072 samples were tested separately and out of these, 6,630 samples have been confirmed with no infection.
No new place was declared as hotspot today and there are 28 hotspots in the state.

So far, 91,344 people have come to the state from foreign countries and other states by road, sea and air.

Expressing concern over the rising numbers, the Chief Minister said, "The increase in numbers is a serious warning. Our COVID-19 preventive measures need to be enhanced. More people are expected to come back and we will ensure proper testing, treatment and care to all. Serious patients are among those who are coming back."
"We will ensure additional facilities including ventilators in hospitals to accommodate more in-patients. Huge rush is being seen at some places. People should observe more self-restraint or else all efforts will become ineffective," he added.