Currency notes issued before to 2005 to be withdrawn

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.

Bengaluru, Jul 11: Karantaka Congress chief DK Shivakumar on Friday raised questions over claims that Rewa Ultra Mega Solar Power Project Madhya Pradesh was "largest in Asia" and said a 2000 MW had been built in the state.

"BJP central government is claiming today that it inaugurated Asia's largest solar plant of 750 MW at Rewa, MP. What then is the 2000 MW Solar Plant in Pavagada, Karnataka which was built in just 3 years by Karnataka Congress government and has been operational since 2018?" Shivakumar said in a tweet.

The Congress leader further said that the most unique thing about the solar project set up in Karnataka was that the farmers were being paid yearly rents for the land upon which it was constructed as it had been leased and not purchased from them, helping them retain ownership.

"The unique thing about the 2000 MW Pavagada Mega Solar Park was that not a single acre of land was acquired from the farmers. All 13,000 acres have been leased from the farmers who are being given yearly rent. Karnataka model of renewable energy was accepted as the best in India," he said.

"Union power minister must answer as to how the Central Government can claim that the Rewa Solar Park (750 MW) opened today is Asia's largest when clearly the Pavagada Park in Karnataka is much larger (2000 MW) and was opened two years back!" he said.

Prime Minister Narendra Modi dedicated Rewa Ultra Mega Solar Power Project to the nation on Friday. 

Belagavi, Apr 30: Police Sub-Inspector attached to Sadalaga Police Station Anil Kumbar was suspended on Wednesday pending inquiry for negligence and misbehavior in Examba incident, Superintendent of Police Laxman Nimbargi said.

According to him, the PSI was suspended as he misbehaved with Sachin Sawant a Centeral Reserve Police Force (CRPF) Cobra Commando on April 23 at his native village Yakshamba village and arrested him on charges of not wearing mask. On scuffle with the constable the commando was handcuffed and chained at Sadalaga police station.

Sachin Sawant was sent to Hindlaga Jail by the Court and was released on conditional bail on Tuesday.