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 19,2020

Bengaluru, Jan 19: The Karnataka government has given its nod to teach 'Vivekadeepini' slokhas, authored by Adi Shankaracharya, in schools across the state, Chief Minister B S Yediyurappa said on Saturday.

At an event called 'Vivekadeepini Mahasamarpane,' organised by Vedanta Bharati, Yediyurappa said, "It has been noticed that Vivekadeepini, which evolves the mind and illumines a person, has a great effect on students.

Parents and teachers have found a positive change among children who were inspired by Vivekadeepini." "Hence, the government has given its nod to allow teaching Vivekadeepini in the schools in Karnataka," he added.

According to the organisers of the event, around two lakh children from 50 schools participated in the event where they were taught to chant Vivekadeepini, comprising verses for the seekers in the spiritual journey.

Yediyurappa reminded the audience that the Indian culture and civilisation is the oldest and the best, which they should feel proud of. Likening Amit Shah to the first union home minister Sardar Vallabhbhai Patel, he said, "After Sardar Vallabh Bhai Patel if we have seen a union home minister, it is Amit Shah, who has successfully resolved many burning issues of the countries within a few months.

"Shah succeeded in finding a permanent solution to Kashmir issue," Yediyurappa said.

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News Network
June 12,2020

Bengaluru, Jun 12: All the four candidates, including former prime minister H D Deve Gowda (JDS), and senior Congress leader Mallikarjna Kharge, on Friday were declared elected unopposed to the Rajya Sabha from Karnataka.

Karnataka Assembly Secretary sources here said that all the four candidates, who were in the fray for as many berths, were elected after the last date of withdrawal of candidature ended on Friday.

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News Network
January 15,2020

Bengaluru, Jan 15: Srishti Institute of Art, Design and Technology in Bengaluru has decided to remain shut for two days after a group of BJP workers wiped out graffiti on its outer walls claiming it as anti-Modi and allegedly warned them against any anti CAA agitation there.

According to sources, the group led by Yelahanka MLA S R Vishwanath allegedly even towed away some vehicles of students and faculty parked in front of the institute alleging that they were blocking the road and causing inconvenience to the local people.

Some students have alleged that they were threatened by BJP workers and also the institute's authorities regarding the graffiti and the blocking of the road using traffic police.

They even claimed that BJP workers warned them against organising any anti-NRC or CAA protests.

A few local residents are also said to have joined the BJP workers and raised complaints about the conduct of the institute's students.

According to local BJP workers, the MLA and a few party men had gone near the institute on receiving complaints from locals about vehicles parked there blocking the road, and when they came across the graffiti they painted it with saffron paint to avoid any controversy, and there was no altercation as being alleged.

However, there is no clarity on who drew the graffiti regarding Modi, which according to BJP workers allegedly depicted the PM in poor light.

The institute has declared holiday on Thursday and Friday to avoid any further escalation, keeping the interest and safety of students in mind, sources said.

Interestingly, on Tuesday graffiti had appeared overnight on the shutters of some shops and walls on the Church Street against Modi, CAA and NRC, following which the city police have launched an investigation.

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