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
April 28,2020

Bengaluru, Apr 28: Former Karnataka chief minister Siddaramaiah on Tuesday suggested that the government can allow sale of liquor in green zones. 

“Merely because there is an economic slowdown in the state, I don’t recommend that alcohol should be allowed to be sold. But, wherever there are green districts, they can open (liquor sale) with certain restrictions, I think,” Siddaramaiah, the leader of the Opposition, told reporters. 

There are 14 districts in the state that are categorised as green because they do not have any active COVID-19 cases. The green districts are: Yadgir, Raichur, Koppal, Haveri, Davangere, Shivamogga, Chitradurga, Udupi, Chikmagalur, Hassan, Kodagu, Chamarajanagar, Ramanagara and Kolar.

There is tremendous pressure on the B S Yediyurappa administration to revive the economy as the lockdown has dried up all revenue sources. Excise, alone, accounts for 18 per cent of Karnataka’s own tax revenue. 

The Excise department recently suggested allowing regulated sale of liquor through the state-run MSIL outlets. The government, however, did not approve it fearing crowding and backlash from the Centre.

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News Network
March 16,2020

Belagavi, Mar 16: Despite issuing an order banning large gathering, including lavish weddings, Karnataka Chief Minister B.S. Yediyurappa attended the grand marriage celebrations of the daughter of BJP MLC Mahantesh Kavatagimath in Belagavi on Sunday.

The Chief Minister had advised people to postpone weddings till the COVID-19 scare passed off, or to restrict the number of guests to around 100. But the wedding on the lawns of Shagun gardens in the Udyambag industrial area in Belagavi had many more times the number of visitors.

A police officer on duty at the venue estimated the crowd to be over 3,000.

The large gathering was in clear defiance of the government order and the Chief Minister’s appeal. But Mr. Yediyurappa’s presence seems to have vindicated this act.

Hundreds of cars were parked on both sides of the Khanapur road, outside the venue which was decorated with flowers, buntings, rolls of paper and colourful cloth. Two huge banners about preventing the spread of COVID-19 have been put up at the venue. There are wash basins at two ends and several hand sanitiser counters across the ground.

Apart from Union Minister of State for Railways Suresh Angadi, and ministers Srimanth Patil and MLA Mahesh Kumthalli, there were several leaders from the BJP, the Congress and the JD(S) who attended the marriage. There were some officers from the city corporation and district administration among the guests.

The Chief Minister arrived around 11 a.m. and stayed for nearly an hour at the venue. He left after wishing the couple and greeting some leaders.

On his arrival, at the Sambra airport, Mr. Yediyurappa said the State was well-equipped to handle the spread of the infection. “Over one lakh have been tested. Among the 100 suspected cases, the virus was detected only in six persons. One person has died. But otherwise the situation is under control. Officers are working round the clock,’’ he said.

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News Network
April 25,2020

Mysuru, Apr 25: Karnataka State Road Transport Corporation (KSRTC) has converted one of its buses into a clinic in Mysuru to treat COVID-19 patients.

The mobile fever clinic has a bed for the patient and a cabin for doctor.

There is also a seating facility, medicine box, washing basin, sanitizer, soap oil, a separate water facility and fans.
According to the KSRTC, the cost of this clinic construction on a bus is Rs 50,000.

Meanwhile, 15 new positive cases were reported in the state. So far, 489 COVID-19 positive cases have been confirmed, including 18 deaths and 153 discharges in the state.

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