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
May 24,2020

Bengaluru, May 24: Karnataka has conducted 2.03 lakh tests across the 57 Indian Council of Medical Research (ICMR) COVID-19 testing labs till Sunday morning, said the state Minister of Medical Education Dr K Sudhakar.

He informed that the state has doubled the number of tests in just 16 days after clocking 1 lakh tests on May 8.

"After clocking 1 lakh tests on May 8, we have doubled the number of tests in just 16 days. As on this morning, we conducted 2.03 lakh tests across our 57 ICMR COVID-19 testing labs. I congratulate doctors and lab technicians on this achievement," Sudhakar tweeted.

As many as 1,743 people have been detected positive for coronavirus in the state, of which 597 have been cured and discharged and 41 have succumbed to the infection, as per the Union Health Ministry. 

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News Network
July 25,2020

Bengaluru, Jul 25: Former Karnataka Chief Minister Siddaramaiah on Friday said that the ministers of the BJP-led government in the state avoiding a judicial enquiry into the alleged corruption in procurement of medical essentials "is their height of arrogance".

In a series of tweets, Siddaramaiah said, "Why is the government afraid of judicial enquiry on corruption in procurement of medical essentials? If the ministers are so clean, what is holding them back from initiating investigation? This is their heights of arrogance!!"

He said that there should be a judicial enquiry by a sitting High Court Judge to let people know the facts.

"We will submit our documents and let the government submit their documents. If they are confident, why are they reluctant to initiate an investigation?" Siddaramaiah asked.

"Statment from the PMO says 50,000 ventilators are procured at a rate of Rs 4 lakhs per unit. Is this not true? Will Karnataka BJP ministers say that ventilators under PM CARES are sub-standard and lack quality?" he said.

"There will be both basic and premium models in everything. Even the PMO could have bought Rs. 18 lakh worth ventilator. Why did they buy a Rs 4 lakh worth ventilator? What is the justification from ministers for this?" he questioned.

Siddaramaiah asked that if the Medical Education Department sent a proposal worth Rs 815 crores which is not recomended by experts.
"It is true that Medical Education department has sent a proposal worth Rs 815 crores. It is also true that there is a note on the proposal which says that these are not recommended by experts. What is the significance of this note?" he tweeted.

The former Chief Minister said that if the state government is saying that if ventilators were procured during the tenure of Congress-JD(S) government, they must produce the proof.

"They are accusing us for the ventilators procured during the coalition government. I was not in the government then. If they have documents, let them investigate about that also. Let the truth be revealed," he said.

The Congress leader said that the opposition is not interested in playing politics during the time of COVID-19 pandemic.

"We are not interested in doing politics during COVID-19 pandemic, which is why we have not taken up many other pressing issues. But how can we be quiet when hundreds of people are succumbing due COVID-19 mismanagement?" he asked.

Karnataka on Friday reported 5,007 more COVID-19 cases and 110 deaths. The total number of cases in the state stands at 85,870, including 52,791 active cases and 1,724 fatalities, said the state government's bulletin.

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News Network
March 25,2020

Chithradurga, Mar 25: COVID-19-positive cases in Karnataka jumped to 42 from 33 on Tuesday, with nine cases added to the list overnight. The daughter of G M Siddeshwara, Davanagere MP, is the latest case.

Sources from the Siddeshwara family said that the MP’s daughter, along with her two children, who started from Guyana, first landed at New York airport and from there, she took a flight to New Delhi.

From Delhi, she flew to Bengaluru. And then, she and her children travelled with her father in a chaffeur-driven car on March 21 to their house in Bheemasamudra.


Siddeshwara said that protocol for COVID-19 had been followed and all who returned were under self-quarantine at his house. However, the administration was not informed of her travel history till the samples were given for test, Chitradurga Deputy Commissioner Vinoth Priya R told TNIE. The DC said the test results of the MP’s daughter were collected by district health authorities and sent to Shivamogga Institute of Medical Sciences on March 22.

The test turned out to be positive for COVID-19 and she was shifted to the isolation ward at Chigateri district hospital in Davanagere. This is the first positive case in Chitradurga.The patient, who is the wife of an Indian Diplomat in Guyana, complained of flu-like symptoms and remained self-quarantined at her house at Bheemasamudra. Her condition was informed to the health department, which collected her samples and forwarded it to the SIMS for tests, results of which arrived on Tuesday evening.

The DC said that samples of family members including the two children, and those working at the MP’s house would be collected and sent for testing to ensure proper protocol is followed. The administration has declared a ‘red zone of a 5km radius around Siddeshwara’s house at Bheemasamudra. DHO Dr Palaksha said that the patient is not suffering any serious problems and is normal. However, we have put her in the isolation ward of Chigateri District Hospital in Davangere, he said.

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