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 25,2020

New Delhi, Jan 25: The latest edition of the Oxford Advanced Learner's Dictionary features 26 new Indian English words, including Aadhaar, chawl, dabba, hartal and shaadi.

The 10th edition of the dictionary, which was launched on Friday, has 384 Indian English words and incorporates over 1,000 new words such as chatbot, fake news and microplastic.

The dictionary focuses on language change and its evolution through the years, and has ensured that the language and examples used in the new edition are relevant and up to date with the times, Oxford University Press (OUP) said.

The new edition comes with interactive online support through the Oxford Learner's Dictionaries website and an app. The website includes advanced features such as audio-video tutorials, video walkthroughs, self-study activities and enhanced iWriter and iSpeaker tools.

"This edition has 26 new Indian English words of which 22 figure in the printed dictionary. The other four are in the digital version," said Fathima Dada, Managing Director (Education Division) at OUP.

Some of other new Indian words in the dictionary are auntie (while aunty already figures in the English dictionary, auntie is an Indianism), bus stand, deemed university, FIR, non-veg, redressal, tempo, tube light, veg and videograph.

The four new Indian English words in the online version of the dictionary are current (for electricity), looter, looting and upazila (one of the areas that a district is divided into for administration purposes).

According to OUP, the new edition provides better, more accurate and understandable definitions with examples, usage notes and additional resources to help the learner use the right word in the right context.

"Prevalence and common usage are the main criteria for enlisting new words. We scan the globe for words which are often used by people while speaking English. Then these words go through a rigorous testing process," Dada said.

"As OUP is the custodian of English language globally, these words have to go through its processes," she told PTI.

The Oxford Advanced Learner's Dictionary, she said, has been reinventing itself for nearly eight decades, anticipating the growing learning requirements of learners.

"The 10th edition also is equipped with a strong digital support system, including an app," she said.

It is equipped with several digital tools. With iSpeaker, learners can get help preparing for speaking exams and presentations. With iWriter, learners can plan, write and review their written work. Text Checker allows the teacher to check any text against the Oxford 3000, 5000, and OPAL (Oxford Phrasal Academic Lexicon) written word list.

Resources accessible through online premium access include lesson plans, worksheets, video walkthroughs, and classroom and self-study activities. With the OALD app one can find 86,000 words, 95,000 phrases, 112,000 meanings and 237,000 examples.

The dictionary, which spans 77 years, was originally published in Japan in 1942 and was first brought out by OUP in 1948. The learner's dictionary is based on the original values of its creator, Albert Sydney Hornby, whose aim was to help language learners worldwide understand the meaning of English words.

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News Network
March 15,2020

Mysuru, Mar 15: The renowned Mysore Palace will remain closed for tourists for a week from March 15 to 22, in the wake of the coronavirus outbreak, Mysore Palace committee said on Saturday.

The Karnataka government has ordered shutting down for a week all places and activities where people gather in large number including swimming pools, shopping malls, schools, colleges and cinema halls, state Health Minister B Sriramulu said amid the coronavirus threat.

This comes after Chief Minister BS Yediyurappa chaired an emergency meeting with ministers and senior officials on Friday to discuss the situation.

Earlier, schools in the state had announced early summer vacation for their students this academic year as a precautionary measure. Other public places have been shut down in the state amid the coronavirus scare.

The central government had on Thursday said that the death of the 76-year-old man from Kalaburagi in Karnataka was confirmed to be caused due to co-morbidity while he was also tested positive for COVID-19. The man visited Saudi Arabia on January 29 and returned to India a month later on February 29.

Till date, India has reported two deaths and 84 confirmed cases of the deadly coronavirus.

The World Health Organisation (WHO) has declared the coronavirus outbreak a pandemic. The virus, which originated in the Chinese city of Wuhan last year has spread to more than 100 countries worldwide, infecting over 1,30,000 people.

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News Network
July 17,2020

Bengaluru, Jul 17: Karnataka Chief Minister BS Yediyurappa on Friday held a meeting with the Ministers-in-charge of eight zones to take stock of the COVID-19 situation and its management in Bengaluru.

Yediyurappa suggested that it should be ensured that both COVID-19 and other patients get timely treatment. He advised home quarantine for asymptomatic patients and hospitals and COVID Care Centers would provide treatment for those who are severely symptomatic.

He said, Rapid Antigen Testing should be carried out for those who died in the hospital, for immediate delivery of the corpse for funeral arrangements. He also said to conduct Rapid Antigen Test for those who have died at home and take action for the funeral of the dead.

The chief minister said, lockdown is not a solution to COVID-19 control, he made it clear that the government has no plans to continue with the lockdown in Bengaluru.

"To fill the shortage of doctors, the process of filling vacancies is ongoing," he said.

"Volunteers are identified and ambulances are assigned to each ward.  Strict action should be taken if private hospitals do not provide beds to patients," the Chief Minister said.

The chief minister said volunteers and nodal officers would be appointed to provide information on the enrollment and availability of beds to COVID-19 infected persons in private hospitals.

"Welfare pavilions and lodges have been identified in each ward, suggesting the use of quarters to quarantine those who do not have separate rooms," the Chief Minister said.

He said, allocate bed within two hours of the result of the test and the ambulance must take action to take the person to the hospital. The Chief Minister suggested that the system be decentralised, zoned, and monitored.

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