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."
Comments
SDPI CONTESTING THAT PLACES, THEY HAVE ALREADY SDPI STRENGTH, SDPI WILL GOT MLA SEATS.
Sdpi knows where to contest election and not to...This kind of torture is faced by minorities in every elections. Enough is enough we are tired of INC's fake promises. If you don't work for the welfare of the community you don't deserve to be elected.
No more threats on " if no Congress then BJP will come to power "
AWAAM KI JEET SDPI KI JEET
JAI SDPI
What is contribition for Minority past years. can u mention here.
every on know whom to vote.
Who are you "congress miniority cell" to ask this question?
what you contribution for miniroity since last 70 years?
answer is: Sachar Report that u gave us & Babri Masjid that u taken from us ( 2 important role muslims still suffering)
BJP is just for agenda for u,
We will support SDPI wherever we want
Its our choice now dont spoil Muslims name for your personal benefit
*"We are minorities, we cannot have our own representative.. even other parties are right in not fielding a candidate from minorities as the possibility of winning is very weak. So, why to waste a vote. Better to go with so called secular parties as before"*
These words often we hear here & there, every now & then. Such kind of opinion among our friends, family really pushes our morale down. We celebrated like as if we won, when the person we voted won. But everyone of us should ask ourselves *have we really won ?* We voted a party for years & years & *has the position of our community changed ??*
Leave aside the development & welfare promises, most important question is *are we secure in our own land ??*. Some people do ask *Why only SDPI ?* *Why can't we support a Muslim candidate from other parties ?* Yes we can support if he really does fight for welfare of the community. But we all have seen, we voted many times & sent them to speak for us. But our problems fell on their deaf ears & they became dumb when they really had to speak.So we don't have any expectation from them.Its time to know that we need one among us to represent us.So, that *our voice reach assembly & make a noise there*. it should alarm & awaken others who have been sleeping for years .Truth is that even a member can make other 100 tight lipped secular members open their mouth.One question will open door for 100 answers..Until somebody is there to cry & fight for us, we are not going to get anything. Remember the saying *crying baby only gets the milk*.
If one carefully analyse through the last assembly elections Muslim candidate have lost Muslims in Muslim dominated constituency. In many cases winning margin is thin as many independent Muslim candidates cutting through the votes. This may be the strategy of the BJP in coming assembly elections as well. Other factors are small regional parties lise SDPI which directly responsible for Congress to lose in Mysore Lok Sabha elections. MIM has cost nearly two dozen seat in UP is the worrying fact.
Congress is shedding tears now after losing 15 seats in Gujarat with a small margin. Had they spared couple of seats for BSP and NCP they would have easily won 13 seats ...‘As you sow, so shall you reap’.
Wake up INC & start discussing & shares the seats with growing , popular & true secular,agitative & politcal party SDPI or else it will be too late...
One SDPI MLA enter in ASSEMBLY will open mouth of all minority MLA , this time must go one MLA FROM SDPI,
Never ever one and only SDPI
Congress itself is the reason for failure in Gujarat, they didn't join hands or not ready to talk with BSP or NCP. while checking recent statements of ING party, it also going favor to soft Hindutva, instead of this let them join hands with SDPI to fight against saffronization or else they will pay for it as they did in Gujarat.
my opinion SDPI will win 2 to 4 seats with any party support in Karnataka this time, more than 40+ places chances of coming in the second place ... congress should make their strategy now and move on.. best of luck Cong+SDPI.
This is congress strategy till date, minorities especially muslims are well aware of all these tactis. Never they work hard or do anything for minorites rather they just show BJP as a devil and gain votes. Vote for all these secular parties with a clever startegy where they can be made victories. We can see that bjp is out of power and also see that along with congress 4-6 MLA from these parties enter assembly and make the changes.
On one hand Rahul Gandhi is instructing Karnataka Congress govt to stop so called "Minority Appeasement" and on other hand the Minority wing of Karnataka Congress is begging Muslims to stay away from Sdpi and MIM. This shows us Congress is not yet decided its stand on Muslims in coming MLA Election. Whereas SDPI has its stand very clear about contesting the elections with positive Political views. We will support SDPi wherever they contest for election. Whereas we ask Congress to alliance with SDPI in order to save BJP from coming into throne. Sdpi and Congress should be together to defeat BJP. Hence Congress should offer SDPI some of its seat. That will be clever move from Congress.
There is nothing new in KPCC Minority Wing's view, this is what Congress has been telling for almost 7 Decades. Why only SDPI & MIIM, why not JDS and other secular smaller parties, they too cause division of Muslim and secular votes. JDS has got many infulential Muslim figures such as Farook Bhai, Rauf Puttige and many from Coastal belt, then countless Muslim leaders from other parts of Karnataka. Are they not dividing Muslim votes.
I agree with Minority wing - hold discussion not only with SDPI & MIIM but other small progressive parties, thinkers such as Dwaraknathji, Bhaskar and about 15 such people who are decided to contest election this time, Congress should support them, not to field candidates against them. Let some more JIGNESH's come out from Karnataka, let us here different voice of revolutionary thinkers in the Assembly.
An Historical opportunity awaiting for Congress in Karnataka to silence Fascist forces. Dont blame or terrify Muslims, rather work strategically. The ball is in Congress Court!!!
To kick out all communal ; anti INDIA forces from our beloved NATION INDIA. All should unite and vote for the best secular party with ballots. Decline ; reject EVM system then only you can make impossible thinks to possible. Stand togehter and deman for BALLOT voting system then only you will aware who is for the country and who is not. At present there are big deal programs are going on behind screen with communal groups which INDIAN never experienced in the past. Now this is the right time and we the peace loving KARNATAK people to start. For the best government and ruling select qualified young energetic with good back ground. Don't support criminal and communal mind candidate.
We need our GREAT NATION to unite always and shine as number ONE in UNIVERS.
Jai Hind! Jai KArnataka !
They might have good ideologies. But people should recognize as a winning party.
otherwise no use. We dont have objection, if these New parites can win.
We know it will take many years to be strong enough to win in the election New parties
Better be smart, wise support to Congress, atleast much safer than BJP. otherwise you are answerable to your God for not using your brain.
May God bless.
Expression or Minority Wing of All India Congress Committee is quite correct, otherwise same Gujarat situation will prevail in Karnataka too. All Muslims should vote to a single party.
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