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
March 6,2020

Bengaluru, Mar 6: PVR Cinemas on Friday launched its five-screen multiplex in here, augmenting its presence in Karnataka across 15 properties to 103 screens and to 46 properties and 286 screens in southern India.

With this opening, PVR consolidates its growth momentum in the current financial year 2019-20, so far opening 83 screens in the year and bringing its portfolio to 841 screens at 176 properties in 71 cities.

"We feel proud to cross the 100 screens milestone in the state of Karnataka at the very beginning of the year," said Joint Managing Director Sanjeev Kumar Bijli.

"Southern India has a strong market with significant growth potential. In Bengaluru, we have introduced some of our best formats and offerings owing to the nature of preferences by our customers," he said in a statement.

Pramod Arora, Chief Growth and Strategy Officer at PVR Ltd, said the company will continue to enhance the consumer experience through innovation and set new benchmarks in the Indian multiplex industry.

PVR is the largest and the most premium film exhibition company in India, serving over 100 million patrons annually. 

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News Network
March 31,2020

Thiruvananthapuram, Mar 31: The Kerala government

on Tuesday rejected concerns of community spread of novel coronavirus in the state in the wake of the second death of a patient here who had no travel history or reported contact with any infected person.

Setting aside the concern, Health Minister K K Shylaja said the deceased man, a native of nearby Pothancode, was already suffering from several other health issues including high blood pressure.

The 68-yearold man died at the government medical college here, taking the total number of COVID-19 deaths in Kerala to two, the government said.

"We have got information that the deceased man had come in contact with some persons arrived from the Gulf. As he was very sick and was not in a position to speak, we could not collect details from him directly," she told reporters here.

"So we had to collect such details from his relatives now. As per preliminary assessment, it was a case of contact spread. So, as of now, there is no need to get panic about the community spread," she said

The possibility of death was high among patients, aged above 60 years and suffering from other diseases like heart ailments or diabetics, she said.

"That's why we are giving strict directions to the elderly people to remain in homes and avoid contact with infected persons, " the minister said.

However, the minister directed those came in contact with the deceased person to remain in self-quarantine and inform the authorities if they developed any infection symptoms.

In both the coronavirus deaths in the state, the deceased persons were aged and were suffering from other diseases, she added.

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News Network
August 9,2020

Bengaluru, Aug 9: karnataka's Health Minister B Sriramulu has tested positive for the novel coronavirus. He has been hospitalised and is being treated for Covid-19. The minister has also asked all of those who came in contact with him recently to take necessary precautions.

Sriramulu made the announcement in a series of tweets on Sunday. He said, “After symptoms of flu, I have tested positive for coronavirus today.”

“Under the leadership of Honorable Chief Minister (BS Yediyurappa), all the departments of the government, including my department, have been working hard against Covid-19. From the time of corona's appearance, I have had the opportunity to visit 30 districts and work in harmony with the government's desire to treat people well. It is in this backdrop that I am going to be hospitalized and treated,” B Sriramulu said.

Karnataka’s Health Minister also added, “All those who have been in contact with me recently have been requested to take precautionary measures.”

Earlier this month, Karnataka Chief Minister BS Yediyurappa also tested positive for Covid-19. The state's Leader of Opposition and former CM Siddaramaiah of the Congress also declared that his samples too had returned positive for the infection. Both of the leaders are undergoing treatment for Covid-19 at the privately-owned Manipal hospital in Bengaluru.

According to the Ministry of Health and Family Welfare (MoHFW), Karnataka has 79,773 active cases while a total of 89,238 patients have been discharged in the state after recovering from Covid-19 and 3091 have succumbed to it.

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