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 15,2020

Mangaluru, May 15: In a shocking development, as many as 20 people from coastal Karnataka, who recently came from United Arab Emirates today tested positive for covid-19.

More than 175 repatriates were brought from Dubai to Mangaluru International Airport on May 12. Among them residents of Dakshina Kannada and Udupi districts were quarantined in their respective district. 

The throat swabs of all the passengers were sent for covid-19 testing on the following day. 21 of them obtained positive report today. Among those tested covid-19 positive, 15 are residents of Dakshina Kannada and five are from Udupi district. 

They were shifted to covid-19 hospitals in their respective districts today.

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News Network
June 8,2020

Bengaluru, Jun 8: Veteran Congress leader Mallikarjun Kharge on Monday filed his nomination as the party's candidate for the June 19 Rajya Sabha polls from Karnataka.

The former union minister filed his nomination in the presence of KPCC President D K Shivakumar, Leader of Opposition Siddaramaiah and other senior party leaders at the office of Legislative Assembly Secretary M K Vishalakshi, who is the returning officer for the polls.

Ahead of filing of nomination, the Congress Legislature Party meeting was held under the leadership of Siddaramaiah, after which Shivakumar issued "B-form" to Kharge.

The Congress high command on June 5 had announced Kharge as the party's candidate for the Rajya Sabha polls.

The election is scheduled on June 19 to fill four Rajya Sabha seats from Karnataka represented by Rajeev Gowda and BK Hariprasad of the Congress, Prabhakar Kore of the BJP and D Kupendra Reddy of the JD(S) that will fall vacant on June 25, with their retirement.

June 9 is the last date for filing nominations.

Congress with 68 MLAs in the assembly can win one of the four seats easily on its own, so Kharge's victory is said to be certain.

This will be the first stint in Rajya Sabha for Kharge, who has always got elected directly by the people in his political career spanning over four decades.

The leader, earlier popularly known as "solillada Saradara", (a leader without defeat), faced his first electoral loss in his political life against BJP's Umesh Jadhav in Gulbarga by a margin of 95,452 votes during the 2019 Lok Sabha polls.

A nine-time MLA and two-term Lok Sabha member, he had served as Congress floor leader in the previous Lok Sabha, and also as Union Railway and Labour Minister during the UPA government.

Kharge, who is 77-years-old, has also served as minister during several Congress governments in the state, and as KPCC President and Leader of Opposition in the Karnataka Assembly in the past.

His son, Priyank Kharge, is currently MLA representing Chittapur constituency and had served as minister during the previous Congress and coalition governments.

JD(S) patriarch and former Prime Minister HD Deve Gowda is the JD(S) candidate.

The regional party that has 34 seats in the assembly is not in a position to win a seat in Rajya Sabha on its own, and will need the support from the Congress with its surplus votes.

A minimum of 44 votes are required for candidates to win.

BJP with 117 members in the assembly (including Speaker), can ensure easy victory in two seats.

The BJP's central leadership on Monday sprang a surprise by fielding Eranna Kadadi and Ashok Gasti as its candidates for the Rajya Sabha election ignoring the recommendations of the state BJP unit.

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coastaldigest.com news network
May 23,2020

Mudigre, May 23: The throat swab sample of a Primary Health Care doctor at Mudigere in Chikkamagaluru district tested negative for COVID-19. 

It was wrongly tested positive for COVID-19 on May 19, clarified DC Dr Bagadi Gautham. 

The doctor's throat swab was tested again in Shivamogga and Hassan labs where it has tested negative. He will be discharged from hospital, said the DC.

All the 28 contacts of the doctor too tested negative. 

A total of 485 primary contacts and 961 secondary contacts of the doctor were quarantined after the throat swab of the doctor was tested positive. All the contacts who have been quarantined will be sent back home from quarantine centres, added DC.

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