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
July 11,2020

Bengaluru, Jul 11: Amidst the mounting number of covid-19 cases, Karnataka is witnessing another disturbing trend of increasing number of people ending their life. After the lockdown was relaxed, the state saw a worrying jump in the number of suicides.

According to statistics, as many as 2,211 suicide cases have been registered in just two months. The number of suicides rose by 23% in May to 1,127, and by another 18% in June to 1,084, from an average of 912 suicides in the first three months of the year. 

In April, however, the number nearly halved to 477. But April was also the month during which the lockdown (announced on March 24) was complete, and everyone was at home -- which, experts say, could have prevented people with suicidal tendencies from taking their own lives.

Shockingly, number of teenagers including school children committing suicide also increased in the state in past couple of months.

With the pandemic still accelerating and impacting people in multiple ways, the World Health Organisation has urged people to pay greater attention to mental health and suicide prevention. 

Dr Poonam Khetrapal Singh, Regional Director, World Health Organisation (WHO), South-East Asia Region, said stigma related to Covid-19 infection may lead to feelings of isolation and depression. Another precipitating factor impacting mental health amidst Covid-19 could be domestic violence, which is reported to have increased globally as several countries imposed lockdowns, she said.

“Hitting lives and livelihoods, the pandemic is causing fear, anxiety, depression and stress among people. Social distancing, isolation and coping with perpetually evolving and changing information about the virus has both triggered and aggravated existing and pre-existing mental health conditions, which need urgent attention,” she said.

Dr H Chandrashekar, professor and head of the department of psychiatry at Victoria Hospital, said reasons for suicide are always multi-factored, combined, cumulative, unresolving and interrelated.

“There is grief everywhere now due to deaths related to Covid-19, and it may have an adverse effect on some. But people should be watchful of their family members, especially those who are in depression and have a history of suicide attempts. One should never ignore signs, like when someone says they feel like ending their life. They should not be left alone, and unconditional support needs to be given. Also, objects that could be used to commit suicide must be kept away from them,” Dr Chandrashekar said.

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News Network
February 19,2020

Bengaluru, Feb 19: Pointing out that there was a deliberate attempt to cover up police excesses by implicating innocent persons at whim, the Karnataka High Court on Tuesday granted conditional bail to 21 people who were accused by police of involving in violence during the protests against the Citizenship Amendment Act (CAA) in Mangaluru.

Allowing the bail petitions of Ashik and 20 others from Udupi and Dakshina Kannada districts, Justice John Michael Cunha said the overzealousness of the police is also evident from the fact that FIRs were registered under Section 307 of IPC against the persons killed by the police themselves.

“In an offence involving a large number of people, the identity and participation of each accused must be fixed with reasonable certainty. In the present cases, the identity appears to have been fixed on the basis of their affiliation to PFI and they being members of the Muslim community. Though it is stated that the involvement of the petitioners is captured in CCTV footage and photographs, no such material is produced before the court showing the presence of any of the petitioners at the spot, armed with deadly weapons,” the judge noted.

In the statement of objections filed by the State Public Prosecutor-I, it was stated that there was a hint of Muslim youths holding protest on December 19, 2019, opposing the implementation of CAA. Prohibitory orders were clamped in that connection. This assertion indicated that the common object of the assembly was to oppose the implementation of CAA and National Register for Citizens (NRC) which, by itself, was not an “unlawful object”, the judge pointed out.

‘Pics show cops throwing stones at crowd’

Justice Cunha also said the material collected by the investigators did not contain any specific evidence regarding the presence of any of the petitioners at the spot. On the other hand, omnibus allegations were made against the Muslim crowd of 1,500-2,000, alleging that they were armed with weapons like stones, soda bottles and glass pieces. The photographs produced by the SPP depicted that hardly any member of the crowd were armed with weapons, except one of them holding a bottle. In none of these photographs, police station or policemen were seen in the vicinity, the judge noted.

“On the other hand, photographs produced by the petitioners show that the policemen themselves were pelting stones at the crowd. The petitioners have produced copies of the complaints lodged by the dependants of the deceased who died due to police firing and the endorsement made thereon reveals that even though the law required the police to register independent FIRs in view of the specific complaint made against the police officers making out cognizable offences, the police have failed to register FIRs. This goes to show that a deliberate attempt is underway to cover up police excesses by implicating innocent persons at the whims and caprice of the police,” the judge observed.

In the wake of counter-allegations against the police and in the backdrop of their failure to register FIRs based on complaints lodged by the families of victims, the possibility of false and mistaken implication could not be ruled out, the judge said. In these circumstances, it would be a travesty of justice to deny bail to the petitioners and sacrifice their liberties to the mercy of the district administration and police. The records indicate that a deliberate attempt has been made to trump up evidence and to deprive the liberties of the petitioners by fabricating evidence. None of the petitioners have any criminal antecedents, the court said.

“The allegations levelled against the petitioners are not punishable with death or imprisonment for life. There is no direct evidence to connect them with the alleged offence. The investigation appears to be malafide and partisan. In the circumstances, in order to protect the rights and liberties of the petitioners, it is necessary to admit them to bail,” the judge said.

The petitioners were arrested and remanded in judicial custody after the anti-CAA protests on charges of being members of an unlawful assembly, armed with lethal weapons, attempting to set fire to the North Police Station in Mangaluru, obstructing the police from discharging their duties and causing damage to public property, etc., on December 19 in violation of the prohibitory orders. They moved the High Court as their bail pleas had been rejected by a sessions court in Dakshina Kannada.

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News Network
February 6,2020

Mangalore, Feb 6: The first Rashtriya Lok Adalat of 2020 will get started from Feb 8, A district judge has announced, adding that it is being organised by Karnataka Law Services Authority and Dakshina Kannada Law Services Authority.

Speaking to media on Wednesday evening, Justice Sathyanarayana Acharya Kandlur said, "4,820 cases were resolved through Lok Adalat last year. 618 cases have been registered so far to be decided under the Lok Adalat."

Familial, civil and revenue cases of cheque dishonour, financial extortion, cases related to telephone, electricity, water, land encroachment and acquisition, motor vehicle cases, labour issues and maintenance expenses will be decided in the Lok Adalat.

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