Embattled tycoon B R Shetty now holds employees responsible for NMC fraud 

coastaldigest.com news network
April 30, 2020

Newsroom, Apr 30: Beleaguered billionaire B R Shetty, who went into hiding after after a multi-billion fraud at UAE-based NMC Health came to light, has now put the blame on his companies employees.

The former chairman of the Abu Dhabi headquartered hospital operator said, investigations he commissioned found following things:

1. The fraudulent creation and operating of bank accounts in my name including many fraudulent transfers that I neither authorised, consented to, or had any knowledge of.

2. The fraudulent creation of loans, personal guarantees, cheques and bank transfers in my name, and using my forged signature, that I neither authorised, consented to, or had any knowledge of.

3. The creation and set-up of companies in my name that I neither authorised, consented to, or had any knowledge of, and that were seemingly created with the express intention to commit or conceal fraud.

4. The fraudulent creation of powers of attorney, and the misuse of existing powers of attorney, again in my name, that I that I neither authorised, consented to, or had any knowledge of.

5. The creation and provision to me of false and misleading financial statements and information regarding the performance of some of my private companies and investments by members of my own management team.

6. The payments of expenses using my private companies and personal bank accounts, I believe to hide the true financials of the public companies."

This is the first time Dr. Shetty, who is reportedly hiding in India for the last couple of months, issued a statement based on investigations he commissioned privately. He had brought in a consultancy to conduct it after initial revelations came to light that NMC Health had not been fully transparent with its finances.

Dr. Shetty had stepped down as executive chairman after the then Board of Directors barred him from attending any meetings. “I intend to work tirelessly to clear my name and assist any authorities in getting to the truth and help them ensure that misappropriated or missing funds are returned by the perpetrators to their rightful owners,” said Dr. Shetty.

This month, ADCB, which has the highest exposure among UAE banks to NMC Health, brought charges against five former officials, including ex-board of directors, with Abu Dhabi prosecution. The former CEOs of NMC Health and Finablr are also currently not in the UAE.

Comments

Kannadiga
 - 
Thursday, 30 Apr 2020

Can he explain give few wordd about Daniel Varghese  the founder of UAE exchange.

Who is the person shattered his fate .

 

 

 

 

 

 

 

 

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News Network
May 26,2020

Bengaluru, May 26: Unknown miscreants have set ablaze 30-40 migrant labourers hutments in Bengaluru east, prompting police to take suo motu cognizance, an official said on Tuesday.

"As many as 30-40 migrant labourers' hutments have been set ablaze by unknown miscreants at Kacharakanahallin in KG Halli, we have taken suo motu cognizance of the crime," said a police official to media.

Police are investigating the arson invoking IPC Sections 143, 147, 188, 436, 123, 504, 506 and others.

"There was no loss of life in the arson as the migrant labourers were away at their hometowns because of COVID lockdown," said the official.

The labourers came from different parts of Karnataka to eke out a living and were living in those huts near the Rama Temple in KG Halli.

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Media Release
January 23,2020

Mangaluru, Jan 23: With the results of Joint Entrance Examination (JEE-Main) out, it is celebration time at CFAL (Centre for Advanced Learning), Mangalore’s top training institute as 12 of its students have secured above 99 percentile, out of 120 students who appeared at the prestigious national examination held in January this year. The students are: Kaustubh Rao (99.79), Ujwal Kumar (99.77), Dheeraj Kamath (99.74), Pramod Rao (99.68), Santhosh M (99.59), Mohan Nayak (99.49), Rihan D’silva (99.43), Rishan D’silva (99.41), Pranav Rao (99.41), Aamod BK (99.29), Anmol J Shetty (99.22) and Madhura Sabhahit (99.083).

Apart from the above students, 8 students have scored above 98 percentile, the details of the students are: D.K. Goutham (98.67), Tejah S.S. (98.49), Akash Shetty (98.4), Tejas Bhat K (98.34), Ninaad PS (98.31), Shreepoorna Rao (98.3), K. Annapoorna Prabhu (98.3) and Rakshith Sajjan (98.2). The results of many more students are awaited.

A total of 8,69,010 students had appeared in the said exam from across India. The students who have attempted the JEE Main exam in January can attempt the exams again in April to better their percentile. Students who clear JEE Main qualify for JEE Advanced and are eligible for seats at the NIT’s and other top institutions of the country.

JEE – The most challenging undergraduate admission test

Joint Entrance Examination (JEE) conducted this year by National Testing Agency (NTA) is a national level examination for students to qualify and pursue engineering degree at under graduate level. Paper 1 is held for BE/B.Tech admissions and Paper 2 for B. Arch/B. Planning. JEE Main is a critical criterion for admission in India’s most prestigious and elite universities like IITs and NIT’s.

Those students who clear JEE Main can take the JEE advanced – which is a pre-requisite requirement for admission in the Indian Institute of Technology and Indian School of Mines (Dhanbad)

CFAL – The first name in training

The training at CFAL consists of defined hours of classes, tests and mock exams, unique course material, experienced professors and hence is the first choice for students appearing for STEM examinations including JEE, NTSE, KYPY, OLYMPIADS etc.  The centre was established with the intention of giving students of Mangalore information, guidance and tools required to qualify the competitive exams. However, the main aim of CFAL is to inculcate passion for Math and Science learning among students and to encourage research and innovation in the subjects.

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coastaldigest.com news network
May 4,2020

Mangaluru, May 4: As the coronavirus lockdown norms have been relaxed in the coastal district of Dakshina Kannada, people will be able venture out for essential activities from 7 a.m to 7 p.m.

The lockdown was imposed in the coastal district on March 22 midnight to prevent the spread of Covid-19. Initially it did not apply to essential services such as sale of food, groceries, milk, vegetables, fruits, and meat and fish. Gradually the administration had to intensify the lockdown and allow those shops to remain open between 7 a.m. and 12 noon. However, today (May 4) onwards there will be relaxation of lockdown between 7 am to 7 pm. 

Precautionary measures like maintaining social distancing has been urged and use of face masks has been made mandatory.

Permitted activities

• Permission for plying of auto-rickshaws, cabs, private vehicles and bikes has been given. However only three occupants, including the driver will be allowed and no pillion rule is applicable for two-wheelers.

• OPDs, medical clinics are permitted to operate.

• Standalone shops, shops located in neighbourhood colony, residential complex will be allowed to operate.

• Private organisations can function with 33% staff capacity while allowing work from home for rest of staff.

• E-commerce activities only for essential goods permitted.

• In site construction activities in urban areas, rural areas including MNREGA works.

• Permission is only available to open the shop in the market and in the market complex.

Prohibited activities:

• Movement of individuals is not permitted for all non-essential activities.

• Travel by air, rail and inter-State movement by road.

• Functioning of schools, colleges, and other educational and training/ coaching institutions.

• Hospitality services, including hotels and restaurants.

• Cinema halls, malls, gymnasiums, sports complexes, bars, clubs, swimming pool, entertainment parks, assembly halls, etc; barber shops, spas and salons, textile and apparel(clothes) shops.

• Social, political, cultural, academic, entertainment, religious and other kinds of gatherings; and, religious places/ places of worship for public. 

• Shops in urban and rural areas, for non-essential goods not allowed in malls, markets and Market Complexes.

• All types of traffic movements will be prohibited after evening (7 pm to 7 am)

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