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.
The reason for the raid was that a girl belonging to another community was present in the room. However, after inquiry the cops returned as they realised that the girl was not only his classmate but was also his fiancée.
Comments
ALWYN,,,,THERE R SOME WHO WANT TO EXPLORE,,EVEN PARENTS ARE FINE ABOUT THIS BUT SOCIETY IS NOT ,SOMETIMES IT IS OTHERWISE,,,,ONE SHUD NOT INTERFERE TO THE CERTAIN EXTENT,,IN SOCIETY ONE SHUD KNOW HOW TO ACT AND TALK,,,,,ONE SHUD NOT HURT OTHERS,,,,LOVE JIHAD IS SERIOUS,,,THERE ARE INDIVIDUALS WHO DO IT FOR FUN,,,AND SOME FOR DEMEANING THE GIRLS REPUTATION AND SOMETIMES EVEN THE COMMUNITY,,,,,,,SOME SOCIETIES ARE VERY REGRESSIVE LIKE MUSLIM COUNTRIES,,,,,,OURS IS OK,,,ONE SHUD NOT FEEL EVERYTIME IT IS THE CASE,,,,,WHEN A COUPLE ACTUALLY LOVES EACH OTHER THEY SHUD BE ALLOWED,,,,THATS THE WHOLE POINT.......
Doorway to Haven AK47 please help us, many of our girls are victim of Love jihad, this is other example. we are help less
NO DC OR BC CAN STOP THIS,,,,,,ITS HAPPENING EVERYWHERE IN THE WORLD,,,,THIS TIME THE MALE WAS SAVED BECAUSE GIRL IS CHRISTIAN,,,UNTIL NEXT TIME,,,WEN GIRL IS HINDU,,,HE WILL GET IT FOR SURE,,,,,THEN WE WILL C WHAT DC DOES,,,,,NONESENSE PEOPLE TALKING COURAGE ON WEB FORUMS,,,ITS SO MANLY
Koti-an & other chaddis, BURNOL BODA
CHADDIGALIGE BURNOOL BAGHYA....
Shame !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! on dirty mind people...........
its not coming from their back ..its coming from Hindutwa Activists mouth
These shameless goondas have no job but to create disturbance in society. Police should book them for wasting time and trying to create communal disturbance. Arrest the leaders of these goonda parties.
One who act against country's CONSTITUTION and tamperning the rules and contents of CONSTITUTION and playing against law and attacking on any particular community or conducting group clash; igniting communal clash is a terrorist and Government and Supreme Court must announce to whole nation and implement.
Then no one dare to show off with DHARMA;SENA; BHAKT BRIGADE etc.
respected deputy commission,
dear sir,
it has been a practice in dakshina kannada that , the sangha pariwar goons always accompany policemen for any raid , which was complained by them.
why you need sangha pariwar goons along with your police men? your police men are not enough to handle the situation? or the police men are also involved in sangha pariwar activities?
this is specially when they raid \minority houses, church, mosque and commercial places only. entire muslims in dakshina kannada knows this routine. thus the minorities are losing faith in police.
kindly requesting your good selves to stop this practice to show that your team is capable to handle any situation, and your team is not supported by the sangha pariwar goons."
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