Banks asked to search and seize B R Shetty’s accounts in UAE

News Network
April 26, 2020

Dubai, Apr 26: The Central Bank of the UAE (CBUAE) has instructed financial institutions in the country to search and freeze all bank accounts of Indian billionaire BR Shetty and his family along with those of companies where he has a stake.

The apex bank has also blacklisted several firms associated with Shetty along with their entire senior management.

In an advisory issued last week, CBUAE cited decisions of the Federal Attorney General and asked financial institutions to search and freeze any bank accounts, deposits or investments in the name of Shetty or his family members.

Financial institutions have been directed to stop transfers from these accounts and deny access to deposit boxes.

Currently in India and facing a string of charges, Shetty is the founder of NMC Health.

The heathcare provider was placed into administration by a UK court recently following an application by the Abu Dhabi Commercial Bank (ADCB) which alone has an exposure of $981 million (Dh3.6 billion).

Overall, UAE banks have a combined exposure of more than Dh8bn to NMC which owes money to Oman-based banks and financial institutions as well.

Probing credit facilities
The Central Bank has sought information about credit facilites extended to the Shettys along with details of their safe deposit boxes and the financial transfers they have made till date.

A similar advisory has been issued for NMC Healthcare and NMC Holding, based on the decision of the Head of Plenary Fund Prosecution.

The Central Bank has also blacklisted several companies associated with Shetty. Key staff members of these firms have been similarly blacklisted.

Comments

Angry Indian
 - 
Monday, 27 Apr 2020

when you make money with good country you should not make doka to that country, first of all we indian have bad name in GCC now this will make more dought on indian hindus..

 

after BJP come to power in india,our country is acting like maron, this will only end with final WAR.

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News Network
January 31,2020

New Delhi, Jan 31: Slamming the BJP over the Jamia firing incident, Congress leader Priyanka Gandhi Vadra on Friday said such incidents were possible with the ruling party's leaders inciting people to shoot, and asked Prime minister Narendra Modi to answer whether he stands with violence or non-violence.   

Her attack on the government comes a day after tensions in the Jamia area spiralled on Thursday after a man fired a pistol at a group of anti-CAA protesters, injuring a student, before walking away while waving the firearm above his head and shouting "Yeh lo aazadi" amid heavy police presence in the area.

"When the BJP government ministers and party leaders incite people to shoot, give provocative speeches, then all this becomes possible. The Prime Minister should answer what kind of a Delhi he wants to build?" Priyanka Gandhi said in a tweet in Hindi.

Does the PM stand with violence or non-violence, she asked.

"Does he stand with development or with anarchy?" the Congress general secretary said.

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News Network
March 6,2020

Beijing, Mar 6: World health officials have warned that countries are not taking the coronavirus crisis seriously enough, as outbreaks surged across Europe and in the United States where medical workers sounded warnings over a "disturbing" lack of hospital preparedness.

The World Health Organization warned Thursday that a "long list" of countries were not showing "the level of political commitment" needed to "match the level of the threat we all face".

"This is not a drill," WHO chief Tedros Adhanom Ghebreyesus told reporters.

"This epidemic is a threat for every country, rich and poor."

Tedros called on the heads of government in every country to take charge of the response and "coordinate all sectors", rather than leaving it to health ministries.

What is needed, he said, is "aggressive preparedness."

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Agencies
May 22,2020

New Delhi, May 22: The number of COVID-19 cases averted due to the lockdown is in the range of 14-29 lakh, while the number of lives saved is between 37,000 and 78,000, the government said on Friday citing various studies, and asserted that the unprecedented shutdown has paid “rich dividends” in the fight against the pandemic.

The lockdown in India has been a timely, graded, proactive and pre-emptive public health measure to fight the COVID-19 pandemic and has been part and parcel of the government’s overall strategy, Dr V K Paul, Member (Health), NITI Aayog, and Chairman, Empowered Group 1, said at a media briefing on the COVID-19 situation.

The government imposed the nationwide lockdown from March 25 to prevent the spread of the novel coronavirus and it is currently in its fourth phase.

Like the number of cases, the growth rate of number of COVID-19 deaths too has fallen significantly due to the lockdown, marking a notable difference between pre-lockdown and post-lockdown situations, he said.

At the briefing, Pravin Srivastava, Secretary, Ministry of Statistics and Programme Implementation gave model-based estimates on COVID-19 cases and deaths which have been prevented due to the lockdown.

As per Boston Consulting Group's model, the lockdown saved between 1.2 lakh and 2.1 lakh lives, while the number of COVID-19 cases averted is between 36 lakh and 70 lakh, he said.

According to Public Health Foundation of India, nearly 78,000 lives have been saved due to the lockdown, Srivastava said.

Citing a model by two independent economists, he said that around 23 lakh COVID-19 cases and 68,000 deaths have been averted due to the lockdown.

Some independent experts, including retired scientists, have calculated that around 15.9 lakh cases and 51,000 deaths have been averted due to the lockdown, Srivastava said.

A joint study by the Ministry of Statistics and Programme Implementation and the Indian Statistical Institute found that around 20 lakh COVID-19 cases and 54,000 deaths were averted due to lockdown, he said.

The number of COVID-19 cases averted due to the lockdown is in the range of 14-29 lakh, while the number of lives saved is between 37,000 and 78,000, the official said.

“We are fully confident that the lockdown, with full public cooperation, has reaped rich dividends,” Srivastava said.

The strong defence of the lockdown, comes a day after the health ministry said the period of lockdown has been gainfully utilized to ramp up the health infrastructure, with around 3,027 dedicated COVID-19 hospitals and 7,013 care centres being readied across the country to fight the disease.

The announcement on Thursday came after some media reports questioned the country's preparedness to deal with the highly infectious disease.

"There are reports in a section of the media about some decisions of the government regarding the lockdown implementation and response to COVID-19 management. The period of the lockdown has been gainfully utilised to ramp up the health infrastructure in the country," the ministry had said.

Addressing the press briefing on Friday, joint secretary in the health ministry Lav Agarwal said 48,534 COVID-19 patients, which is about 41 per cent of the total cases, have recovered so far. As many as 3,234 patients have recovered in the last 24 hours, he said’

The COVID-19 mortality rate has dropped from 3.13 per cent on May 19 to 3.02 per cent as focus was on containment measures andclinical management of cases, Agarwal said.

An ICMR official said 27,55,714 tests for COVID-19 have been conducted till 1 pm Friday with 1,03,829 tests done in one day. Over 1 lakh tests for COVID-19 have been done each day for the last four days, the official said.

The growth rate of novel coronavirus cases witnessed a steep decline from Apr 4 when lockdown put a brake on the speed of increase of cases, V K Paul said.

The number of COVID-19 cases would have risen exponentially had the lockdown not been implemented, he said, adding that the doubling rate of cases was 3.4 days when the lockdown started and it is 13.3 days at present.

The COVID-19 outbreak in India has remained confined to limited areas with 80 per cent of active cases in just five states, Paul said

He said around 80 pc of COVID-19 deaths have been in Maharashtra, Gujarat, Madhya Pradesh, West Bengal and Delhi. 

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