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 31,2020

Bengaluru, May 31: As many as 299 fresh covid-19 cases reported in Karnataka today. Most of them have interstate travel history.

With this total number of covid-19 cases in Karnataka rose to 3221. 

District wise cases: Raichur 83, Yadgir 44, Bidar 33, Kalaburagi 28, Vijayapura 26, Bengaluru Urban 21, Dakshina Kannada 14, Mandya 13, Belagavi 13, Udupi 10, Davangere 6, Uttara Kannada 5, Ballari, Shivamogga, Kolar 1 each.

Two more deaths reported in the state. One of the patients is a 50 year old male from Raichuru district, who returned from Maharashtra. Another is a 75 year old man, a resident of containment zone in Bidar. With this the number of COVID 19 related deaths rose to 51.

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News Network
April 14,2020

Bengaluru, Apr 14: The Congress in Karnataka on Tuesday welcomed the extention of the COVID-19 lockdown till May 3, though it flayed Prime Minister Narendra Modi for not announcing any programme to support the slowed down economy.

Reacting to the lockdown extension, Congress president D K Shivakumar said it was much needed to control the virus but expressed his displeasure for not offering any relief measure to uplift the economy which is witnessing slump.

"We had expectation that some package would be offered but that was not done. The manufacturing sector, service sector, agriculture sector and even the medical sector was looking for some relief but that was not the talking point of the Prime Minister," Shivakumar told reporters.

However, he maintained that the party would cooperate with the Centre in its fight against COVID-19.

Leader of the Opposition Siddaramaiah said he was "disappointed" that there was no programme announced to improve the economy, which is at the lowest level in 30 years.

"The economy has collapsed. Never ever in 30 years it had witnessed such a downfall. Industries are closing down.

Agriculture in bad shape. poeple have no money. Villages are in distress," the former chief minister said.

He opined that Modi should have make some announcement with regard to economic programmes and assistance to the weaker section.

"Labourers today are on the streets. Their programmes do not touch them. People had lots of expectations which are now meaningless," Siddaramaiah said.

However, he underlined that he does not oppose the lockdown and appealed to the people to support it wholeheartedly.

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News Network
January 20,2020

New Delhi, Jan 20: Security has been beefed up at airports across the country after a suspicious bag was found at the Mangaluru airport on Monday.

According to Central Industrial Security Force (CISF), which guards the airports in the country, a man was captured in the CCTV dropping the bag inside Mangaluru airport.

According to the CISF DIG Anil Pandey, traces of improvised explosive device (IED) have been found from the bag.

"According to CCTV footage, a suspect kept the bag at Mangaluru airport and was then seen leaving in auto while concealing his face. The suspected object was detected timely and local bomb disposal team is working on its disposal," DIG Pandey told media.

"We have found traces of IED from a bag lying at a ticket counter in Mangaluru airport, we have safely evacuated it," DIG Pandey told media.

According to sources, initial investigations have revealed that the bag contained some type of black powder.

"Initial investigation has revealed that the bag contained a black powder which seems to be explosive, though it is yet to be cleared what kind of explosive it is," sources claimed.

"After we found the suspicious bag at Mangaluru airport, a security drill has been initiated at all the airports and CISF staff have been asked to beef up security," DIG Pandey said.

Also Read: IED recovered from Mangaluru Airport defused safely; 3 teams formed to nab suspect: Top cop

Comments

bond
 - 
Tuesday, 21 Jan 2020

AIrport bomb new dramshooitng mlore airport 

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