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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Sushma Bangera
June 4,2020

Kuwait: The Covid-19 pandemic has pushed the whole world into a difficult situation and the situation of Indians in Kuwait is not any different. Many people have lost their jobs, have no salary, are deprived of food and are not able to pay rent. The appalling conditions of labourers, domestic workers, taxi drivers and low waged earners don’t seem to end in Kuwait. 

At this trying situation when many people were even afraid of leaving their houses because of coronavirus, Suresh S. Rao Neramballi, volunteer of the Food Kit Distribution at the ICSG (Indian Community Support Group) has helped many tremendously. He was ready to go around delivering food kits at any time possible by his car. However, after Kuwait imposed a full curfew from 11th May 2020, no one could take out their vehicles unless they had a curfew pass. 

This did not stop Mr. Suresh Neramballi, who then borrowed a bicycle from a friend and ended up going around in the cycle delivering the food kits in curfew break time (4:30pm to 6:30pm) to all those who registered in the ICSG website. This selfless service surely commands appreciation and applause. Mr. Suresh Neramballi has been a light for many families and bachelors in Kuwait and will surely garner the blessings of them who have been able to eat at this time.

He was also the one who could deliver the food kits to many Indian Muslim maids, bachelors, laborers and families previous day and right on the day of EID, as they were not able to go shopping for their groceries for EID, due to the curfew. They blessed him in EID dua. 

Mr. Suresh Neramballi hails from Mangaluru, India and is an Engineer in the Oil sector company in Kuwait. He has been dedicated to social service, achieved 'Aryabhata International Award' for his Kannada Service and Social service, served in many Associations and Distributor of Kannada and Tulu Movies in Kuwait. He wholeheartedly thanks the people and government of Kuwait for his bread and butter.

Comments

Tanveer
 - 
Friday, 5 Jun 2020

May Almighty Allah shower His mescifull blessing on you and your family... Your selfless service will always be remembered,,,

M SHARIEF SULTAN
 - 
Thursday, 4 Jun 2020

God bless you and your family

abdullah
 - 
Thursday, 4 Jun 2020

God bless you brother and keep you healthy plus happy always.   You will be in the prayers of those who receivec your timely regardles they are hindu or muslim or christian.   This is a slap on the face of hate mongers who are always trying to divide the socieity in the name of religion.    Such people are burden to this world and society.   We should clean our society from such dirt and bad people.   Well done brother.  May God bless you.

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coastaldigest.com news network
May 24,2020

Mangaluru, May 24: A youth committed suicide by jumping into River Netravati from the old bridge at Panemangaluru on the outskirts of the city. 

The deceased has been identified as Nishant, son of Chandrahasa Moolya, a resident of Kolakeeru, near Kalladka in Bantwal taluk. 

When Nishant jumped to river, a few Muslim youths - identified as Shameer Goodinabali, Mohammad, Tauseef, Mukhtar, Zahid and Arif - also jumped to river in an apparent bid to rescue him. 

Though they managed to take an unconscious Nishant out of the water, he breathed his last without responding to any treatment. Jurisdictional Bantwal town police visited the spot later.

Meanwhile, a few locals captured the video of Muslim youths' attempt to rescue a Hindu youth on Eid al-Fitr amidst covid-19 lockdown. The video went viral within hours. 

Social media platforms including WhatsApp and Facebook flooded with messages appreciating the courage of Muslim men, who endangered their lives to save a Hindu youth on Eid day.

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News Network
May 23,2020

Bengaluru, May 22: Police commissioner Bhaskar Rao on Friday said the next two Sundays will be ‘full curfew days’ and the city will be under complete lockdown between 7pm Saturday and 7am Monday.

Addressing the media, the top cop said all essential services will be excluded from the curfew. “People attending weddings and other ceremonies can travel. Those wanting to buy food products or medicines too can step out. However, like in lockdown 1.0, people found loitering unnecessarily will be punished,” he said.

According to Rao, city roads will be barricaded like how it was done during lockdown 1.0 and 2.0.

A senior police officer told TOI that during this period, vehicles could be seized under the Disaster Management Act-2005. “So, we request the public not to come out unnecessarily. If we find people roaming in vehicles, we shall seize the rides and owners will have to approach the court later to get them released,” he said.

The government has extended the lockdown till May 31, which includes two Sundays.
Earlier in the day, the state government allowed inter-state travel from Karnataka with the consent of the receiving state. Praveen Sood, Karnataka DG and IGP, said, “Inter-state pass is not required to go out of Karnataka as long as you have the consent of the receiving state. Due to the lockdown, migrant workers, pilgrims, tourists, students and other persons are stranded at different places. They would be allowed to move as usual.”

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