Mangaluru: Cong protests flyover delay; demands probe into NHAI’s substandard work

Kochi, May 8: Five people, who were among 181 individuals evacuated from Abu Dhabi, have been sent to the isolation ward of the district hospital after they displayed symptoms of coronavirus during thermal screening.

The first repatriation Air India Express flight with 181 individuals from Abu Dhabi landed at Cochin International Airport here on Thursday.

Among the returnees, 49 women were pregnant and four were children. They have been home-quarantine.

Meanwhile, the rest have been taken to quarantine centres in their respective districts.

The Air India Express flight IX452 to Kochi with 177 passengers and four infants took off from Abu Dhabi International Airport and touched down at Kochi post 10 pm.

The government has made it mandatory for foreign returnees to be quarantined for 14 days, either in a hospital or in an institutional quarantine on payment-basis, by the concerned state government.

A COVID-19 test would be done after 14 days and further action would be taken according to health protocols.

India on Monday began phased repatriation of its citizens stranded abroad due to coronavirus lockdown.

The government said that Air India will operate 64 flights from May 7 to May 13 to bring back around 15,000 Indian nationals stranded abroad amid the COVID-19-induced lockdown.

Starting from 7 May, 64 flights will take off for 12 countries including the UAE, Saudi Arabia, Kuwait, Qatar, Bahrain, Maldives, Singapore and the US.

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.