Need a law to shoot at sight those raising anti-India slogans: B C Patil

Apr 12: The board and management of troubled NMC Healthcare should be held accountable for the financial irregularities, said Abdulaziz Al Ghurair, chairman of the UAE Banks Federation.

"Banks have dealt with the exposure professionally and they lent to a company which was listed on FTSE-100 index with world-class regulator and the world's largest audit firm doing their audit. Even if they present their balance sheet today, people will still lend to them. This is a world-class fraud and the management and board members should be held accountable. We should have a different track to handle this company. It is not a normal track that we can go," Al Ghurair said during a virtual press conference on Sunday.

It is estimated that the more than 80 local, regional and international banks have exposure to healthcare firm. The UAE bourses had asked all the listed companies in the UAE to announce their exposure. The UAE banks last week announced nearly Dh10 billion exposure to NMC Healthcare, which is owned by the billionaire BR Shetty.

Abu Dhabi Commercial Bank has the highest exposure to NMC at Dh3 billion. Dubai Islamic Bank and its subsidiary Noor Bank announced Dh2 billion exposure while Emirates NBD and its Shariah-compliant unit Emirates Islamic Bank revealed Dh747.34 million exposure. Ajman Bank has Dh151.8 million while Al Salam Bank pegged its exposure at Dh161.5 million. All these lenders revealed their exposure for the first time on Sunday.

Abu Dhabi Islamic Bank said it had extended Dh1.07 billion in financing to NMC Healthcare, and an additional Dh113.67 million exposure to Islamic bonds issued by NMC.National Bank of Fujairah pegged its exposure to NMC at Dh289.1 million, while Sharjah-based United Arab Bank said its exposure was Dh135.3 million.

NMC recently revised its debt position to $6.6 billion, well above earlier estimates.

London's High Court last week placed hospital operator NMC Health into administration, on the application of Abu Dhabi Commercial Bank.

"I know leading bank in UAE have already legal guardian of the company so now management cannot hide anything. The new team will manage and discover what happened," said Al Ghurair.

Mangaluru / Dammam, July 14: As many as 180 NRIs from Karnataka who were stranded in Saudi Arabia amid Covid 19 crisis today reached their home country by a flight charted by a Jubail based company KMT.

The Indigo flight carrying 174 adult passengers and 6 infants took off from King Fahad Airport, Dammam at 6:30 a.m. and landed at Mangaluru International Airport at 1:30 p.m.

Pregnant women, people with serious ailments and those who lost jobs are among the passengers. KMT has provided free ticket for some of the passengers who were in dire need of support.

KMT is a company which is head quartered in Jubail, Saudi Arabia was formed by natives of Addoor, Dakshin Kannada -  Shoukath, Abdul Razaq, Siddique and Abdul Rahman.

The CEO of KMT, Mr. Abdul Razaq has thanked Dr. Arathi Krishna, former president of KNRI Forum for her support to KMT in chartering flight.

He has also has expressed his gratitude to D.K district administration, director of SACO  company Mr. Althaf Ullal and KMT operation Manager Mr. Sadiq Ahmed and his team for their cooperation.

Bengaluru, Jan 13: A criminal case was registered against two persons for allegedly defaming Chamarajpet MLA BZ Zameer Ahmed Khan by posting defamatory comments against him on Facebook.

Police registered a case based on a complaint filed by the MLA's staffer, Mohammed Ayub Pasha, on Friday. The suspects were identified as Sharath ITI and Sri Rushikumar Swamiji, based on the profile names in the Facebook posts.

Case under IT Act

Pasha said he found the defamatory posts against Zameer and the community when he was checking his Facebook account. Chamarajpet police registered a case under the provisions of IPC and IT Act and are tracing the suspects.