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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
July 27,2020

Bengaluru, Jul 27: Former Karnataka Chief Minister HD Kumaraswamy said that when COVID-19 has made life and livelihoods difficult, it is unfortunate that charges have been levelled of irregularities in the procurement of COVID-19 equipment.

"The Congress which has levelled charges against the ruling BJP has not so far filed a complaint with any investigating agency. Instead, the Congress has limited itself to getting publicity. On the other hand, the ruling BJP instead of coming clean by ordering a probe into the main charges is indirectly admitting the scam," Kumaraswamy said on Sunday.

"By washing dirty linen in public, both the Congress and the BJP are playing a cruel joke on people instead of protecting their lives," he said.

Hitting out at the BJP, he asked, "Why is it that the BJP is not ordering an investigation into the Rs 2,000 crore Covid 19 corruption charges levelled against the government by the Congress? Why is the government keeping quiet on the corruption charges?"

He said, "Is this the leadership provided by Chief Minister BS Yediyurappa? There could be political pressure on seeking resignation of his Ministers. But why has no action been initiated against any officers? Is there any effort to destroy the evidence by retaining officers in their existing postings?"

"Hunger for publicity is evident when we look at the press conference by five Ministers at a time," he said.

The government has countered the charges of the Congress but backtracked on ordering an investigation, he said.

"Would this not give rise to suspicion that the government is involved in the scam?" he asked.

He also asked why Congress leaders have not filed a complaint before any investigating agency despite "possessing documents to prove the charges".

"Are the Congress leaders trying to get publicity or are they concerned about the welfare of the people? The Congress Legislative Party leader is seeking an account (Lekka Kodi) while the BJP president is seeking answers (Uttara Kodi). Is it enough to give such questions and answers?"

Is there a concrete legal plan to deal with the irregularities? he asked.

"Looking at the way the Congress leaders have addressed media conferences and taken to social media campaigns, it appears that they are trying to get publicity," he said.

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coastaldigest.com web desk
June 8,2020

New Delhi, Jun 8: Two civil defence employees have been arrested by the Rajasthan Police today in Jaipur based on Military Intelligence (MI) inputs that they had been passing on sensitive information to Pakistan's spy agency ISI.

The arrested are: Vikas Kumar (29), a civil defence employee at an army ammunition depot near Shri Ganganagar (Rajasthan) and Chiman Lal (22), a civil contractual employee of the army's Mahajan Field Firing Range (MFFR), Bikaner. 

Both were working as espionage agents on behalf of Pakistan's intelligence agency and were giving out details of Ammunition and MFFR, vital military installations in India's Western front. 

The MI Lucknow's operation named Desert Chase assumes great importance as the Shri Ganganagar Ammunition Depot and Bikaner MMFR are strategically important military installations on the western front along the Pakistan border.

The work on the "operation" began in August 2019, when the MI Lucknow, through its sleuths, learnt about an espionage agent near Sri Ganganagar who was passing military information to his handlers in Pakistan. The individual was identified as Vikas Kumar - the civil defence employee at an army ammunition depot near Sri Ganganagar.

The MI Lucknow shared the case with UP ATS in the month of January 2020. Vikas's activities were monitored and analysed by a joint team of MI Lucknow and UP ATS. The operation was code-named 'Desert Chase'.

Based on these, it was learnt that Vikas is acquiring photos of a "water distribution register" at a water point/pump house in MFFR through a contractual civil employee named Chiman Lal. The development of the case was halted due to the start of the lockdown period all across the country.

Finally, the case shared with Rajasthan Police Intelligence in the first week of May 2020. A joint team was formed between Rajasthan Police-Intelligence and MI Lucknow.

Fresh leads were found as new payments were detected along with a trail of sensitive information being passed on to Pakistan by two accused.  

Vikas Kumar confessed to having passed the following information to Pakistan:

•    Details received from Chiman Lal about Army units and their strength coming to MFFR.
•    Details of ammunition coming to his ammunition depot including their type, quantity, mode of transportation, date of arrival on a routine basis (almost every time it came to his notice).
•    Details of ammunition (to include their type, quantity and mode/date of transportation) further distributed/transferred to local army establishments/units (including two local brigades) and elsewhere from his ammunition depot.
•    ORBAT (Order of battle; composition related details) of two local army brigades and all changes in them as they came to his notice.
•    Name, rank and personality traits of some Senior Military Officers in the two army brigades nearby, his ammunition depot and others who visited the military station.
•    Photos of arms, ammunition, tanks other military vehicles (with their tactical numbers) at MFFR whenever he could visit it after April 2019.

Vikas also confessed to having received at least Rs 75,000 in total from his Pakistani handler for the information he has shared during this entire period. He used to receive them mostly on bank accounts of his and his brother, Hemant Kumar. The latter was found to have no links to the espionage case otherwise. Out of this sum, he had paid approximately Rs 9,000 in total to Chiman Lal for his assistance in lots of Rs 1000- Rs 2000 since their first meet.

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News Network
February 4,2020

Mangalore, Feb 4: Following the directions of the University Grants Commission (UGC) to use khadi for convocations and other events in universities and colleges, Mangalore University has decided to use khadi-silk for ceremonial robes.

The amendments to the statute governing convocations for conferring degrees were approved in the Academic Council meeting.

Mangalore University Registrar Prof A M Khan said on Tuesday that the colour of the gown of the chancellor will be rich dark red or vermilion and the ‘angavasthram’ will be of gold with blue border.

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