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
February 21,2020

Bengaluru, Feb 21: The Supreme Court in its interim order on Thursday allowed the plea of the Karnataka government for implementation of the final award by a tribunal for sharing of water between Goa, Karnataka and Maharashtra from the Mahadayi river.

The interim order was passed by a bench comprising Justice D Y Chandrachud and Justice Hemant Gupta after hearing the counsel from the three states. The bench said the final hearing in the matter will take place in July.

It also said the interim order is subject to the final outcome of the petitions filed by the three states against the tribunal's award.

The Mahadayi Water Dispute tribunal had passed the order on August 14, 2018, allocating 13.42 TMC ( Thousand Million Cubic Feet.) water (including 3.9 TMC for diversion into the depleted Malaprabha river basin) from the Mahadayi river basin to Karnataka.

Maharashtra was allotted 1.33 TMC water while Goa was given 24 TMC in the final decision of the tribunal. The UPA-2 government had constituted Mahadayi Water Disputes Tribunal in 2010.

Karnataka government, which has locked horns with the neighbouring Goa on the larger issue of sharing Mahadayi River water between both the states, had petitioned the tribunal seeking the release of 7.56 tmcft of water for the Kalasa-Banduri Nala project.

The Kalasa-Banduri Nala (diversion) project, which will utilise 7.56 tmcft of water from the inter-state Mahadayi river, is being undertaken by Karnataka to improve drinking water supply to the twin cities of Hubballi-Dharwad and the districts of Belagavi and Gadag.

It involves building barrages across Kalasa and Banduri, the tributaries of the Mahadayi River, to divert 7.56 tmc water to the Malaprabha river which fulfils the drinking water needs of the twin cities.

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News Network
May 3,2020

Bengaluru, May 3: Undergraduate and postgraduate students skipping online classes held by their universities run the risk of being debarred from writing their exams. 

State universities, which are monitoring the attendance of online classes, are asking their affiliate colleges to send the monthly online attendance details and this would reflect in their regular attendance. This would apply to those studying professional courses like medicine and engineering. 

State medical education minister Dr K Sudhakar has asked all medical colleges to regularly send attendance details to the Rajiv Gandhi University of Health Sciences (RGUHS).

RGUHS vice-chancellor Dr Sachidanand confirmed to DH that the varsity is indeed monitoring the attendance of students. “Online classes are equal to classroom teaching. (Such method of conducting classes) are necessary during the Covid-19 pandemic and the nationwide lockdown,” he said.

According to the Supreme Court directions, students should have 75% attendance to be eligible to appear for the final exams. There could be relaxations if they have health issues. If students are bunking online classes, it would reflect on their minimum attendance necessary to appear for the exams, the vice-chancellors of state-run varsities said.

Bangalore University vice-chancellor Prof K R Venugopal said most of the students are attending online classes and teachers are messaging the parents of those who are irregular. “(Of course) if they fall short of the minimum attendance, they won’t be allowed to appear for the exams,” he said.

Bengaluru North University vice-chancellor Prof T D Kemparaju said the administration has asked its teachers to record details of students attending online classes and update the university.

Mixed signals 

Meanwhile, the University Grants Commission (UGC) on Wednesday issued guidelines directing all universities to treat the lockdown period as “deemed as attended” for students and research scholars. Experts pointed out that the order would prompt students not to take the online classes seriously.

“Arrangements have been made at the state varsities to make students attend online classes compulsorily and students are also serious about it. Now, because of the UGC guidelines, they may bunk classes,” said the vice-chancellor of a state-run university.

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coastaldigest.com news network
August 1,2020

Bengaluru, Aug 1:: Karnataka Minister BC Patil on Friday said that he has tested positive for Coronavirus.

"The report has confirmed me to be corona positive. I am in home quarantine at my residence in Bangalore," he said in a tweet.

"During a recent visit to Koppal district, five of the staff members who accompanied me were reported to be coronavirus positive," he tweeted.

Meanwhile, a total of 5,483 new COVID-19 cases and 84 deaths were reported in Karnataka, the state's health department informed on Friday.

Karnataka now has a total of 1,24,115 coronavirus cases, including 72,005 active cases and 49,788 discharges.

So far, 2,134 deaths have been reported from the state.

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