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
July 6,2020

New Delhi, Jul 6: India's COVID-19 tally neared the 7 lakh mark with 6,97,413 cases after 24,248 new cases were reported in the last 24 hours, said the Union Ministry of Health and Family Welfare.

As per the Health Ministry, there are 2,53,287 active cases in the country while 4,24,432 patients have been cured or discharged. While one patient has migrated.

425 new deaths were reported in the last 24 hours in the country due to COVID-19, taking the number of patients succumbing to the deadly virus to 19,693.

As per the Health Ministry, Maharashtra continues to be the most impacted state from the infection with 2,06,619 cases and 8,822 fatalities due to the virus. Tamil Nadu in second place has a total of 1,11,151 cases and 1,510 fatalities.

The national capital's COVID-19 cases are also nearing the 1-lakh mark with 99,444 coronavirus cases and 3,067 deaths.

The total number of samples tested up to July 5 is 99,69,662 of which 1,80,596 samples were tested yesterday, informed the Indian Council of Medical Research on Monday. 

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Agencies
June 29,2020

Protests condemning the Israeli plan to annex parts of the occupied West Bank are set to take place in the United States and Europe on the same day prime minister Benjamin Netanyahu plans to begin the process.

The demonstrations will be held on Wednesday in Chicago, San Diego, Brooklyn, Los Angeles and San Francisco. Other Western cities will also witness similar protests, including Toronto, Madrid and Valencia.

Students for Justice in Palestine, Jewish Voice for Peace, and American Muslims for Palestine are among the pro-Palestinian groups organizing the protests.

The Samidoun Palestinian Prisoner Solidarity Network, one of the organizers, urged "direct actions and popular mobilizations in [Palestinian] refugee camps, cities and villages," and professed "loyalty to the martyrs" on its call for the events.

Another group, Al-Awda or the Palestinian Right to Return Coalition, decried "72 years of genocide, ethnic cleansing and dispossession" of Palestinians.

It also tied their demonstrations to the protests against anti-black racism in the US and beyond.

"We demand the defunding and dismantling of US police alongside the defunding and dismantling of Zionist colonialism and racist Israeli apartheid," Al-Awda said on its website.

Netanyahu has set July 1 as the date for the start of cabinet discussions on the annexation plan.

He has been driven ahead by US President Donald Trump, who unveiled a “peace” plan for the Middle East in January that effectively sidelines the Palestinians altogether.

The plan, which Trump himself has described as the “deal of the century,” envisions Jerusalem al-Quds as “Israel’s undivided capital” and allows the Tel Aviv regime to annex settlements in the occupied West Bank and the Jordan Valley. The plan also denies Palestinian refugees the right of return to their homeland, among other controversial terms.

The Palestinians want the West Bank as part of a future independent Palestinian state with East Jerusalem al-Quds as its capital.

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News Network
March 6,2020

Mumbai, Mar 6: Harried Yes Bank depositors rushed to ATMs to withdraw cash but faced multitude of problems including closed down machines and long queues, after the RBI placed the bank under a moratorium, capping maximum withdrawals at Rs 50,000 per account for a month.

Aggravating the problems of depositors were difficulties accessing the internet banking channel, which ensured that they can't transfer the funds online as well. At an ATM in south Mumbai's Horniman Circle, with the RBI headquarters overlooking it, the shutters were pulled down.

The guard on duty said the machine was non-operational before he reported to work late in the evening and he was ordered to shut it after 2200 hrs. In the residential area of suburban Chembur, one ATM was dispensing cash but had a long queue of anxious depositors.

One man said it was still possible to withdraw up to Rs 50,000 in multiple transactions from the machine.

However, another machine nearby had run dry within minutes of the RBI announcement, a woman said.

The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender.

For the next month, Yes Bank will be led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.

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