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Apr 12: The board and management of troubled NMC Healthcare should be held accountable for the financial irregularities, said Abdulaziz Al Ghurair, chairman of the UAE Banks Federation.

"Banks have dealt with the exposure professionally and they lent to a company which was listed on FTSE-100 index with world-class regulator and the world's largest audit firm doing their audit. Even if they present their balance sheet today, people will still lend to them. This is a world-class fraud and the management and board members should be held accountable. We should have a different track to handle this company. It is not a normal track that we can go," Al Ghurair said during a virtual press conference on Sunday.

It is estimated that the more than 80 local, regional and international banks have exposure to healthcare firm. The UAE bourses had asked all the listed companies in the UAE to announce their exposure. The UAE banks last week announced nearly Dh10 billion exposure to NMC Healthcare, which is owned by the billionaire BR Shetty.

Abu Dhabi Commercial Bank has the highest exposure to NMC at Dh3 billion. Dubai Islamic Bank and its subsidiary Noor Bank announced Dh2 billion exposure while Emirates NBD and its Shariah-compliant unit Emirates Islamic Bank revealed Dh747.34 million exposure. Ajman Bank has Dh151.8 million while Al Salam Bank pegged its exposure at Dh161.5 million. All these lenders revealed their exposure for the first time on Sunday.

Abu Dhabi Islamic Bank said it had extended Dh1.07 billion in financing to NMC Healthcare, and an additional Dh113.67 million exposure to Islamic bonds issued by NMC.National Bank of Fujairah pegged its exposure to NMC at Dh289.1 million, while Sharjah-based United Arab Bank said its exposure was Dh135.3 million.

NMC recently revised its debt position to $6.6 billion, well above earlier estimates.

London's High Court last week placed hospital operator NMC Health into administration, on the application of Abu Dhabi Commercial Bank.

"I know leading bank in UAE have already legal guardian of the company so now management cannot hide anything. The new team will manage and discover what happened," said Al Ghurair.

Bengaluru, Apr 14: The Congress in Karnataka on Tuesday welcomed the extention of the COVID-19 lockdown till May 3, though it flayed Prime Minister Narendra Modi for not announcing any programme to support the slowed down economy.

Reacting to the lockdown extension, Congress president D K Shivakumar said it was much needed to control the virus but expressed his displeasure for not offering any relief measure to uplift the economy which is witnessing slump.

"We had expectation that some package would be offered but that was not done. The manufacturing sector, service sector, agriculture sector and even the medical sector was looking for some relief but that was not the talking point of the Prime Minister," Shivakumar told reporters.

However, he maintained that the party would cooperate with the Centre in its fight against COVID-19.

Leader of the Opposition Siddaramaiah said he was "disappointed" that there was no programme announced to improve the economy, which is at the lowest level in 30 years.

"The economy has collapsed. Never ever in 30 years it had witnessed such a downfall. Industries are closing down.

Agriculture in bad shape. poeple have no money. Villages are in distress," the former chief minister said.

He opined that Modi should have make some announcement with regard to economic programmes and assistance to the weaker section.

"Labourers today are on the streets. Their programmes do not touch them. People had lots of expectations which are now meaningless," Siddaramaiah said.

However, he underlined that he does not oppose the lockdown and appealed to the people to support it wholeheartedly.

Bengaluru, July 17: A 60-year-old woman who tested positive for Covid-19 allegedly ended her life in the Covid ward at KC General Hospital in the early hours of Friday.

The woman, the fourth Covid positive patient to end her life since April, was a resident of Mariyappanapalya near Jnanabharathi in West Bengaluru. She was found hanging from a window grille in the passage of the Covid ward around 5 am. She had used her sari to hang herself.

The police said that the woman was admitted to the hospital on July 1. She was responding well to the treatment and was almost cured. Her son was infected first and admitted to the same hospital. As she later tested positive and got admitted, her son was discharged on July 11. The police suspect that the woman may have resorted to the extreme step due to depression.

An investigating officer quoted doctors telling the police that they were about to inform the woman about her discharge date on Friday. Doctors were waiting for the report on her latest test before discharging her.

The woman’s body will be subjected to an autopsy as per the Covid standard procedure. The Malleswaram police have taken up a case of unnatural death. Investigations are on. 

On July 11, a 70-year-old man ended his life in the toilet of the Covid ward in Victoria Hospital, while a suicide was reported in the same ward on June 26. A 60-year-old woman also hanged herself in the toilet. Her son, daughter-in-law, and grandson were also admitted to hospital for Covid-19.