Embarrassed B R Shetty helplessly resigns from Abu Dhabi’s ailing NMC Health

News Network
February 17, 2020

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.

Comments

sunita kejriwal
 - 
Monday, 17 Feb 2020

BRS could not fool all the people all the time!

 

Bhakth
 - 
Monday, 17 Feb 2020

Illegal way of earning will not last for long. 

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News Network
April 7,2020

Bengaluru, Apr 7: Former Minister and Leader of the Opposition Siddaramiah on Tuesday termed the shutting by private clinics in the state by doctors as an 'inhuman act'.

Taking to micro-blogging site Twitter, the Congress leader said due to the fear of Novel Coronavirus, the doctors have closed their private clinics, which was against their profession.

This has affected the people, especially those, who are suffering from other deceases. He urged Chief Minister B S Yediyurappa to intervene and resolve the issue immediately.

Despite the government instructions not to close down their clinics, the doctors have not been responding positively, Mr Siddaramaiah noted.

In this connection, the government should act seriously and give necessary warning to the doctors, to either open their clinics to serve the people, or face action, he added.

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coastaldigest.com news network
August 4,2020

Mangaluru, Aug 4: The Karnataka Beary Sahitya Academy has announced the names of the winners of its annual honorary awards (Gaurava Prashasti and Gaurava Puraskara) for the years 2019 and 2020.

Rahim Uchil, the president of the Academy announced the names at a press conference in the city today. Beary Academy registrar Poornima and member Shamsheer Budoli were also present in the press meet. 

Gaurava Prasasthi-2020 winners are: Basheer Ahmed Kinya (Beary literature), Veena Mangaluru (Beary cinema, drama and art) and Siddique Manjeshwara (Beary organisation and social service) 

Gaurava Puraskara-2020 winners are: Dr Mohammed Ismail (medicine), T A Mohammed Asif (education), Iliyas Mangaluru (social service), Abdul Rasheed aka Rash Beary (Beary organisation) and Safwan Shah Bahrain (young talent). 

Gaurava Prashasti-2019 winners are: Abdul Rehman Kutthethur (Beary literature), Ismail Tannirbhavi (Beary art) and M Ahmed Bava Moidin (Beary organisation and social service).

Gaurava Puraskara-2019 winners are: Abdul Razzak Ananthady (Beary education), T S Hussain (Beary literature), Abdul Majeed Suralpady (General), Asif Karnad (social service) and Ali Kunhi Paare (Beary organisation). 

The Academy’s "Gaurava Prashasti consists of Rs 50,000 cash prize, shawl, garland and citation, while "Gaurava Puraskara" consists of Rs 10,000 cash prize, shawl, garland and citation.

Mr Uchil said that the awards will be conferred in a formal function after discussing the dates with chief minister once the covid-19 situation comes under control. Even though the winners for the year 2018 were announced, they weren’t conferred on the achievers. Hence those awards also will be conferred in the same ceremony, he said.

About the winners:

Basheer Ahmed Kinya: He has been involved with the Beary music sector since the last 21 years in the form of singer, and poet. He has provided lyrics for over 150 Beary audio cassettes and also sang them. His first audio cassette, Maskattoru Kallas' had created a record by getting sold out within four to five days. He has also created several non-stop cassettes and Duf songs. 
 
Veena Mangaluru: She has acted in the first Beary cinema. She has acted in over a thousand plays in different languages. 'Mami Marmolu', Kurfat Katte/Amadakaro Chiri, and Shamimarabal are some of the plays she has acted in. 
 
Siddique Manjeshwar: A social worker and activist. Through social media, he led a blood donation campaign and thereby helped thousands of people.  There are over 10,000 members in his 54 WhatsApp groups who are ready for blood donation. His ‘Blood Donate Mangaluru’ drive has been able to collect over 26,000 units of blood and conducting over 250 blood donation camps so far. He was honoured with a special award of the chief minister of Kerala. 

Dr Muhammed Ismail: Dr Muhammed Ismail completed his medical education in 1989 and has been serving different hospitals since the last 30 years being a highly respected doctor. He also is an honorary medical officer of the Wenlock Hospital Mangaluru. He has served as an office-bearer of Indian Medical Association, Karnataka Medico-legal Society etc.
 
T A Mohammed Asif: He has been providing education to over 360 students from LKG to the eighth standard through Adarsh Group of educational institutions. He is also active in the social sector and has distributed school bags and books to poor students. During the lockdown, he distributed free food items worth about Rs 10 lac.
 
Ilyas Mangaluru: He had fought against the menace of dowry. He has got over 500 girls married through an organization, 'Dowry Free Nikah'. He has also created an app, Free Nikah, which helps boys and girls to find suitable matches. 
 
Rash Beary: Abdul Rasheed aka Rash Beary is known for using social media to help the people. By establishing 'Beary Nikah Helpline' he has helped several poor Beary women to get married. He also provides free counselling services to couples from all religions. With the help of donors, he keeps distributing clothes and food among needy.

Safwan Shah Bahrain: A well-known Beary singer, he has sung several songs in past one decade. He has been organizing various Beary programmes in Bahrain for past eight years. He had undertaken the adventure of jumping from the air from a height of 13,000 feet with the Indian flag in hand. 

Abdul Razack Ananantady: A PU college lecturer by profession, he has conducted over 500 pre-exam training camps and functioned as a resource person in leadership and personality development training. He has been conducting training and lectures for students and their parents on learning nutrition, and life values. His addresses on education and cultural aspects have been aired by Akashvani.

Abdul Rahiman Kuthethur: He was the co-editor or Beary Kannada - English dictionary and editor of the first-ever Beary grammar book released in 2019. He also is a member of the experts' committee on the Beary language textbook. He has translated Panchatantra stories, Sarvajna Vachanas etc into Beary language and published collection of poems.

Ismail Tannirbavi: He is known as a Beary theatre personality, who started acting at the age of 17. He has acted in over 300 plays including Beary, Tulu and Kannada. He has been in the theatre since the last 55 year and his plays have been presented in countries like Muscat and Kuwait. 
 
Ahmed Bawa Moidin: A social worker and member of the Beary Study chair. He also is the life member of Beary Sahitya Parishad and member of Human Ethical Committee of Mangalore University. He was the founder vice president of Mangalore Merchant Associate and member of divisional railway users consultative/committee. He has donated blood 53 times. 

 T S Hussain: Hussain is a veteran Beary writer who has defied blindness. He faced many difficulties and challenges in life and also met with an accident in 2008. Because of this accident, his eyesight had become very weak. He continued with the creation of works with determination in spite of failing eyesight with help from friends. He has authored two works and was appreciated for their content. Thereafter, he authored two more works. In 2018, he wrote another work.
 
Abdul Majeed Suralpady: A social worker and activist, he has served in various organizations. He served as the president of Suralpady government higher primary school for 21 years. He also served as the president of the educational committee of South Karnataka Sunni Centre's Al Ihsan English Medium School and got government recognition for the school. He set up PU college for girls and laid two-way road at Kaikamba besides bus shelter, toilet, drinking water system and building for police check post.
 
Apatbandhava Asif Karnad: He has been serving as an ambulance driver for the last ten years. He readily carries dead bodies and performs funeral. and done so for over a thousand bodies so far. Whenever he comes across mentally unsound people on the road, he gives them a wash and admits them to Ashrams. He has also been maintaining Maimoon Foundation Apatbhandhava Sycho Rehabilitation Centre.
 
Alikunhi Pare: He is the founder president of 'Melthene', a forum of Beary writers and artists. He has also served social, literary, organizational and religious sectors. He has been identified with several organizations including Mangaluru taluk Yuvajana Okkota and Dakshina Kannada and Udupi Muslim Central Committee.

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coastaldigest.com web desk
June 7,2020

The Himachal Pradesh police have confirmed the arrested a man for injuring a pregnant cow by feeding her wheat flour ball laced with firecrackers. 

The cow’s jaw was blown off-- reprising the tragic story of a pregnant elephant that lost its life after eating a pineapple stuffed with a firecracker in Kerala.

While the incident took place on May 26 in Jhandutta area of Himachal Pradesh’s Bilaspur district, it came to light only on Saturday, May 6, when the cow’s owner, Gurdayal Singh, uploaded a video of the injured animal on social media.

In the video, Gurdiyal Singh describes how the cow’s mouth had been injured after one Nandlal fed her explosives.

He confirmed that Nandlal works as a mechanic in Singh’s neighbourhood. Singh said that Nandlal has no remorse for his action. Nandlal has said that he is not scared of the repercussions and that he will continue to do whatever he deems fit. “Even the village sarpanch cannot harm me”, challenged Nandlal when confronted by Singh. 

The cow has given birth to a healthy calf since but Singh said the animal is still not able to eat because of an injured jaw and is being administered Glucose.

The video went viral with people demanding strict action against the person who fed firecrackers to the animal.

The practice of studding dough balls with firecrackers isn’t uncommon in Himachal, and farmers resort to this to keep wild animals, especially boards, off their fields. In the Kerala incident too, the explosive-filled-fruit was meant for wild boars. In many parts of the country, including Himachal, the method is also used to hunt for bush meat -- an illegal practice.

Bilaspur superintendent of oolice (SP) Devakar Sharma confirmed the incident and said the cow was fed a highly explosive firecracker popularly called “aalu bomb”. 

Aalu is Hindi for potato. He said a case under Section 286 of the Prevention of Cruelty to Animals Act has been registered and the role of the neighbours named by Singh is being investigated.

Comments

Colleen Rock
 - 
Tuesday, 9 Jun 2020

Someone needs to educate these disgusting Indian pigs. Religious? After what they do to women and animals? They are less than animals. A disgrace to their God and the human race. Sadly, officials are corrupt and those that aren't are powerless.

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