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 .

 

 

 

 

 

 

 

 

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 17,2020

Bengaluru, May 17: A group of 86 college students, who went to Malaysia for internship and have been stranded due to lockdown, have appealed to Karnataka Chief Minister B S Yediyurappa to help them return to Karnataka.

The students in the video have also mentioned Union Minister D V Sadananda Gowda and Kolar MP S Muniswamy and stated that States such as Kerala and Tamil Nadu have made arrangements to bring back their natives from South East Asia.

The students added that they are in the Selangor State of Malaysia. They had arrived there on March 13 for a three-month-long internship as part of their college studies. They are living in apartments arranged by their college and money with them is almost spent, their college is extending them support in this regard. They are not in a position to complete the remaining two months of internship due to lock-down in Malaysia.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
July 21,2020

Bengaluru,  Jul 21: The salaries of doctors under the National Health Mission (NHM) has been hiked to Rs 45,000 in Karnataka, according to Medical Education Minister Dr K Sudhakar.

Addressing the media on Monday, Dr Sudhakar said that the state government will bear the cost of the hike in salaries of the doctors and added that ASHA workers too will get a hike in their pay soon.

Regarding the COVID-19 management in the state, he further said that testing will be increased in the containment zones.

During a meeting chaired by Chief Minister BS Yediyurappa, the Education Minister said that it had been decided that booth level committees will conduct door to door survey for early detection of influenza-like illness (ILI) and severe acute respiratory infections (SARI), and vulnerable persons.

He also implored private hospitals to admit and treat COVID-19 patients and asked them to not be hesitant in admitting pregnant women.

Karnataka on Monday reported 3,648 COVID-19 cases taking the tally to 67,420, informed the state health department.

According to a bulletin issued by the department, the state recorded 72 more deaths due to COVID-19 with the toll at 1,403 while six patients who tested positive for the infection have died due to non-COVID causes, as of Monday. There are 42,216 active cases in the state.

Comments

Prakash Salins
 - 
Tuesday, 21 Jul 2020

What about the nurses???

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 24,2020

Ahmedabad, Feb 24: US President Donald Trump arrived in Ahmedabad on Monday for the first leg of his India trip.

The Air Force One plane carrying Trump and his wife Melania landed at the Sardar Vallabhbhai Patel international airport here at 11.37 am, officials said.

It was scheduled to land at 11.40 am.

Prime Minister Narendra Modi, who reached Ahmedabad over an hour before Trump did, was present at the airport to welcome the US president at the airport.

In Ahmedabad, Trump will visit Mahatma Gandhi's Sabarmati Ashram, take part in a roadshow with Modi and jointly address over one lakh people at a cricket stadium, before heading for Agra to see the iconic Taj Mahal with Melania.

Trump, who is also accompanied by daughter Ivanka, son-in-law Jared Kushner and top brass of his administration, will get a taste of India's cultural melange during his high- optics Gujarat itinerary, after the bonhomie between the two leaders at the 'Howdy, Modi!' event in Houston last year.

The US president and Modi will participate in a roadshow from the airport to Sabarmti Ashram and from there to the newly-built Motera cricket stadium, where over a lakh people are expected to be present for the 'Namaste Trump' event.

Dance groups and singers from different parts of the country will be performing on stages that are dotting the 22- km route of the 'India roadshow' in the city.

Huge billboards of the two leaders and replicas of historic places in Gujarat have also been placed along the roads where people will greet the two leaders.

Over 10,000 police personnel, besides officials of the United States Secret Service, and personnel of the National Security Guards (NSG) and the Special Protection Group (SPG) have been deployed for the high profile visit.

The seventh US president to visit India, Trump on Sunday retweeted a video in which his face was superimposed on the hit Indian movie-character Bahubali, showing him as a great saviour.

Modi will accompany Trump to the Sabarmati Ashram, which was home to Mahatma Gandhi from 1917-1930 during India's freedom struggle.

Several world leaders including Chinese President Xi Jinping and Japanese Prime Minister Shinzo Abe have visited Sabarmati Ashram in recent years.

Ashram secretary Amrut Modi said Trump will spend 15 minutes at the place.

"Trump will visit the 'Hriday Kunj'. If he wishes, he will spin a charkha (spinning wheel). We will also gift him a coffee-table book, and a book containing 150 quotations of Gandhi," the Ashram official said.

Hriday Kunj is a room on the Ashram premises where Mahatma Gandhi and his wife Kasturba Gandhi had lived for 12 years between 1918 and 1930.

The official said the US President would be briefed about Gandhiji and the importance of charkha as a symbol of self-reliance.

There will be a cultural extravaganza at the Motera stadium during the 'Namaste Trump' event, where Trump and Modi will address the gathering.

Bollywood singer Kailash Kher and some Gujarati folk singers will perform at the stadium, officials of the Gujarat Cricket Association said.

Students of various government and private schools have also been roped in to perform at cultural events and they have been practicing for days, an official said.

Billboards with slogans hailing Indo-US relations and having pictures of Trump and Modi walking together, shaking hands, and waving at the crowd during the 'Howdy Modi' event are dotting the city.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.