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 web desk
June 7,2020

The Himachal Pradesh police have confirmed the arrested a man for injuring a pregnant cow by feeding her wheat flour ball laced with firecrackers. 

The cow’s jaw was blown off-- reprising the tragic story of a pregnant elephant that lost its life after eating a pineapple stuffed with a firecracker in Kerala.

While the incident took place on May 26 in Jhandutta area of Himachal Pradesh’s Bilaspur district, it came to light only on Saturday, May 6, when the cow’s owner, Gurdayal Singh, uploaded a video of the injured animal on social media.

In the video, Gurdiyal Singh describes how the cow’s mouth had been injured after one Nandlal fed her explosives.

He confirmed that Nandlal works as a mechanic in Singh’s neighbourhood. Singh said that Nandlal has no remorse for his action. Nandlal has said that he is not scared of the repercussions and that he will continue to do whatever he deems fit. “Even the village sarpanch cannot harm me”, challenged Nandlal when confronted by Singh. 

The cow has given birth to a healthy calf since but Singh said the animal is still not able to eat because of an injured jaw and is being administered Glucose.

The video went viral with people demanding strict action against the person who fed firecrackers to the animal.

The practice of studding dough balls with firecrackers isn’t uncommon in Himachal, and farmers resort to this to keep wild animals, especially boards, off their fields. In the Kerala incident too, the explosive-filled-fruit was meant for wild boars. In many parts of the country, including Himachal, the method is also used to hunt for bush meat -- an illegal practice.

Bilaspur superintendent of oolice (SP) Devakar Sharma confirmed the incident and said the cow was fed a highly explosive firecracker popularly called “aalu bomb”. 

Aalu is Hindi for potato. He said a case under Section 286 of the Prevention of Cruelty to Animals Act has been registered and the role of the neighbours named by Singh is being investigated.

Comments

Colleen Rock
 - 
Tuesday, 9 Jun 2020

Someone needs to educate these disgusting Indian pigs. Religious? After what they do to women and animals? They are less than animals. A disgrace to their God and the human race. Sadly, officials are corrupt and those that aren't are powerless.

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coastaldigest.com news network
July 9,2020

Jeddah, Jul 9: Karnataka NRI Forum Jeddah, a registered charitable organization under Government of Karnataka & Indian Consulate Jeddah - Saudi Arabia, helping the Kannadigas overseas and in Karnataka state as well, has initiated played its role in helping stranded Kannadigas to travel back to home under Vande Bharath Mission. 

The first flight which was departed to Bengaluru from Jeddah through this mission had 155 passengers. The forum had helped hundreds ofstranded Kannadigas in reaching their destinations with majority passengers were on emergency medical issues and pregnant women.  Still hundreds of Kannadigas are looking ahead for the help to fly back.

Now, the forum has organized two separate charter flights with Spice jet for Mangaluru (IXE)on16TH July 2020 & for Bengaluru (BLR) on18TH July 2020 from Jeddah (JED) airport respectively, with the support of Indian Consulate Jeddah and the Karnataka State Government.

As the huge demands from Kannadigas having very limited seats availability, the passengers (from Karnataka Only) can book and confirm their tickets by submitting their booking data under the link given below. Priority will be given to passengers with critical needs. 

https://forms.gle/BGvFFXoNSxVmrpRh9

Note: The passengers already booked tickets with KARNATAKA NRI FORUM JEDDAH shall not reapply, you will be receiving emails / calls from the Forum shortly.

For further information you can send emails to [email protected] or by calling to below given numbers.

Mohammed Mansoor (President): +966 50459 4752
Shaikh Saoud (Chief Coordinator): +966 55978 3092

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News Network
January 7,2020

Kochi/Thiruvananthapuram, Jan 7: The Managing Director of Muthoot Finance company was injured after miscreants allegedly pelted his car with stones here on Tuesday morning following which one person was reportedly taken into custody.

George Alexander Muthoot, who suffered head injury has been admitted to a private hospital, police said.

A section of employees have been agitating against the Muthoot management over dismissal of 160 staff from the company's 43 branches across the state in December.

The protest is being held under the aegis of the Centre of Indian Trade Unions (CITU).

While the Muthoot management alleged that "CITU goons" were behind the attack that occurred at around 9 am in front of IG office here, the union leaders have maintained that they have no role in the incident.

Reacting to the incident, Labour Minister T P Ramakrishnan said he does not think any of the Muthoot employees were behind the attack.

"The employees were protesting peacefully. Violence is not part of their protest. Even now, in today's incident, I don't think any of the Muthoot employees attacked the MD.

However, it was the management of the company which had always provoked them by not implementing the decisions taken at conciliatory meetings," the Minister said.

If the management was prepared to change its stance, all the issues would be resolved, he said.

CITU leader Ananthavattom Anandan told reporters that they do not believe in such type of violent mode of agitation.

An official of the Confederation of Indian Industries Kerala chapter condemned the incident, saying "it is a matter of great concern".

Well known businessman and founder chairman and CEO of V-Guard Industries, Kochouseph Chittilappilly condemned the attack and said it was unfortunate that such incidents still continue in the state.

“Earlier also such incidents have taken palace. It's highly condemnable. The union leaders will now claim that the incident took place without their knowledge. But without the backing of union, such incidents will never happen,” he said.

Kerala-headquartered Muthoot Finance is the largest gold financing company in India.

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