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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coastaldigest.com news network
May 25,2020

Mangaluru, May 25: Four domestic flights that were scheduled to operate from Mangaluru International Airport today have been cancelled. 

A total of six flights were scheduled to depart Mangaluru Airport today. 

Among them, two flights to Mumbai, one to Chennai and one to Bengaluru were cancelled due to lack of passengers and other reasons, sources said.

The remaining two flights – both to Bengaluru – are expected to take off with limited passengers later in the day.  

Domestic flight operations resumed in the country today after a gap of two months. All flight operations had ceased when the nationwide lockdown was imposed in March.

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News Network
February 18,2020

Mangaluru, Feb 18: Customs at International Airport here have seized Rs 58.95 lakh worth gold in two incidents and arrested two smugglers, Customs Commissionerate said on Monday.

According to the department, two men have been arrested by the customs officials in two separate incidents last evening for attempting to smuggle gold into the country valuing over Rs. 58.95 Lakhs.

In the first incident, Muhammed Swalih Chappathodi, 22, hailing from Malappuram, Kerala who arrived from Dubai by Spice jet flight concealed capsules containing gold in paste form inside his rectum which upon purification resulted in the recovery of 797 gm of 24 karats valued at Rs.32,35,820.

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News Network
April 20,2020

Hubballi, Apr 20: Dejected over failure to get alcohol for almost one month, a forty-five year old man and his sister died after consuming hand sanitizer in Kalghatgi taluk of Dharwad district on Sunday.

The deceased persons, identified as Basavaraj Venkappa Kuruvinkoppa and Jambavva Kattimani (50) of little hamlet Gambyapur, died at Karnataka Institute of Medical Sciences (KIMS).

The wife of the deceased person has lodged a complaint at Kalghatgi police station stating that her husband had been addicted to alcohol since the last 10-12 years.

Basavaraj and his sister have reportedly consumed hand sanitizer several times since the last 2-3 days, severely deteriorating their health as they felt it is replacement for liquor and has high levels of spirit content.

They were admitted to KIMS only by Sunday early morning after complaining of serious pain in the stomach. The KIMS director Dr Ramalingappa Anthartani said that the deceased appears to have consumed too much sanitizer and the doctors couldn't save their life as they approached the hospital very late.

He also claimed that he is awaiting the postmortem report to know how much quantity of hand sanitizer the deceased had consumed.

"Condition of the patients was very critical when they were admitted to KIMS hospital. It seems that they had drunk too much hand sanitizer for non-availability of liquor. Consumption of hand sanitizer could prove fatal as it has high chemical contents" KIMS director Dr Ramalingappa Anthartani said

The Karnataka government has prohibited the sale of liquor ever since the Centre declared lockdown to control the spread of Coronavirus. This has prompted the alcohol addicts to buy liquor by paying hefty prices in the black market.

But, many poor people in villages have started consuming cheaper hooch and this trade has recently flourished in the rural areas.

Hooch trade has also prompted officials of the excise department to conduct raids in several villages of North Karnataka region. The many theft cases of liquor shops are reported in Karnataka as drunkards have become desperate to get alcohol.

The Karnataka government was planning to allow the sale of liquor after the end of the first phase of lockdown. But, the rising cases of Corona positive cases has prompted it to extend the ban on liquor sale until May 3.

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