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
January 8,2020

Bengaluru, Jan 8: The Karnataka high court on Tuesday directed the government to submit steps taken in respect of the order of Lokyukta in relation to the Kethaganahalli landgrab case involving former chief minister HD Kumaraswamy, his relatives and former minister DC Thammanna.

A division bench headed by Chief Justice Abhay Shreeniwas Oka gave the direction on a PIL filed by Samaj Parivartan Samudaya (SPS), an NGO. The petitioner said despite an order from the Lokayukta on August 5, 2014, to take action within 15 days, no action has been initiated till date in respect of encroachment of a huge tract of land in Kethaganahalli along Bengaluru-Mysuru highway.

SPS says the land was purchased in 1979 contrary to norms of Karnataka Land Revenue Act. It claims Kumaraswamy and others paid only Rs 5,000 per acre, although the prevailing market rate was Rs 25,000 to Rs 30,000 per acre.

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News Network
July 13,2020

Mangaluru, July 13: Dakshina Kannada district in-charge Minister Kota Srinivas Poojary on Monday said that all COVID-19 patients in the district will be treated for free in the hospitals of all medical colleges in the district.

Speaking to newsmen after visiting the COVID-19 treatment facility at KMC Hospital here, Poojary stated that all COVID-19 patients including BPL families, APL families, migrant workers and those without a ration card, will be treated free of charge in the district’s medical colleges. Patients can show their Aadhaar card at the hospital and get free treatment.

Provision of free treatment for COVID-19 patients at Wenlock hospital will be continued. In Dakshina Kannada district, the number of people recovering from the virus and being discharged hospitals is high. There is no need for the people of the district to panic. The government is committed to the health of the people, Poojary said.

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coastaldigest.com news network
August 6,2020

Bengaluru/Mangaluru, Aug 6: Battered by torrential rains, several parts of Karnataka are facing a flood-like situation for the third consecutive year, putting lives and property at risk. 

Several districts of the state's coastal, Malnad and north interior regions are receiving heavy rains and the showers are expected to continue, while there are reports of landslides in hilly areas of Kodagu and Chikkamagaluru districts.

With flood-like situation in several parts of the state, Chief Minister B S Yediyurappa, who is currently undergoing treatment for COVID-19 infection at a private hospital here, has ordered immediate release of Rs 50 crore for emergency relief.

"In wake of heavy rains in several parts of the state, I have instructed the Chief Secretary to review the situation and issued instructions to DCs (Deputy Commissioners) to closely monitor the situation & take necessary measures. Also ordered immediate release of Rs 50 crores for emergency relief purposes," he tweeted last night.

A statement released by the CMO on Thursday said, Yediyurappa has directed the district in-charge Ministers to take precautionary measures in the wake of heavy rainfall across the state.

He instructed the ministers to remain in their constituencies and tour the damaged areas and also directed them to undertake relief distribution and other necessary measures.

"Rs 50 crore has already been released and if necessary more funds would be released. The ministers can take decisions regarding emergency works," he added.

Revenue Minister R Ashoka said he had spoken to Deputy Commissioners of all the districts and given them necessary instructions to respond immediately to the situation.

He has called for a meeting of the disaster management authority later today.

Home Minister Basavaraj Bommai said he will be holding a meeting with the State Disaster Response Force (SDRF) regarding relief and rescue measures to be taken.

Parts of districts in coastal and Malnad regions are currently under red alert and rains are likely to continue there.

Officials said, "... depending on the situation we will downgrade the alerts, it (rains) is likely to reduce during the next couple of days...wind speed is also high some parts, it may also reduce."

In Kodagu district along with widespread rains, landslides have also occurred.

There have been landslides at Brahmagiri, near Talacauvery, the origin of river Cauvery.

"At least four to five people- including the Talacauvery temple priest and family are currently missing... rescue teams have reached the spot," officials said, adding that sensing danger the priest had been asked to vacate the house earlier but he did not.

This is the third consecutive year that Kodagu is facing floods and landslides.

Several parts of north Karnataka, especially the border district of Belagavi are also facing flood situation as inflow has increased in Krishna river and its tributaries due to heavy rains in neighboring Maharashtra and also in the district.

With inflow increasing in Tungabhadra river, there is flood like situation in parts of Ballari district also.

There is a similar situation in Uttara Kannada district that is battered by rains and heavy winds.

The swollen Gangavali river has caused flood like situation in parts of the district.

Due to continuous rains in coastal and Malnad region several rivers including Netravati are swollen and gates of the dams have been opened.

There are also reports of heavy rains and wind causing destruction to crops in parts of Dharwad and Haveri among other districts.

The Karnataka government had recently said it has identified 1,989 villages and over 51 lakh people in 19 districts as flood prone.

As a temporary arrangement for those who will be affected by floods, as many as 1,747 relief centres have been identified- they are schools, anganwadi centres, community centres among others, Minister Ashoka had said recently.

In August 2019, Karnataka witnessed one of its worst natural calamities when heavy floods affected 103 taluks in 22 districts, killing more than 80 people and displacing nearly seven lakh people.

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