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
July 1,2020

Bengaluru, Jul 1: Karnataka Primary and Secondary Education Minister S Suresh Kumar on Wednesday played down reports about confusion regarding valuation of Second Pre- University and the Secondary School Leaving Certificate exam papers.

"Creating confusion has become a habit. There was confusion before the exam, during the exam and now confusion about the valuation of the exam papers," Kumar told reporters in Ramanagara when asked about the confusion over the valuation of answer sheets.

He had gone there to inspect a few centres where the SSLC or the 10th standard exams are underway.

The minister reminded people not to speak about the abilities of the students with contempt.

"Our students have toiled hard and are enthusiastically appearing for the examination. They are eligible for the marks they will score. So we should not speak about our children with disrespect," Kumar said.

The Education Minister said he had spoken to many leaders including former chief ministers Siddaramaiah and H D Kumaraswamy on conducting the examinations.

"Kumaraswamy had insisted on postponing the examination. I personally spoke to him and apprised him about the steps taken by us. I told him that we will work with more sincerity to ensure the safety of the children," Kumar said.

The SSLC exam was scheduled to take place from March 27 but due to the coronavirus-induced lockdown, it was postponed.

While the CBSE and a few other states either decided to give marks based on the students' performance in the previous examinations such as quarterly and half-yearly exams or gave general promotion to the students, Karnataka went ahead to hold the exam.

According to Karnataka Secondary Education Examination Board officials, around 8.5 lakh students have enrolled this year for the SSLC examination.

The exams are being held at 2,879 exam centres across the state.

Prior to the SSLC examination, the last exam of the Second PUC was also conducted on June 18, which was also put on hold due to the lockdown.

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News Network
April 17,2020

Kalaburagi, Apr 17: Hundreds of people participated in the Siddhalingeswara temple chariot festival in Chitapur village on Thursday, violating the lockdown orders.

"Today at 6.30 am, around 100-150 people had come near Siddalingeshwara temple for about 20 mintues and took part in chariot pulling procession," Superintendent of Police Lada Martin said.

A case has been registered against 20 people and further investigation is going to ascertain more details related to the religious gathering.
Meanwhile, a sub-inspector has been suspended.

Thirty-six cases of coronavirus were reported in Karnataka on Thursday, taking the state's tally to 315.

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News Network
March 11,2020

Udupi, Mar 11: An elderly woman, who had recently visited Saudi Arabia has been admitted to an isolation ward at KMC in Manipal, here with symptoms of fever, cough and breathlessness.

The 68-year-old woman hails from Sagar taluk in Shivamogga district of Karnataka.

The patient had travelled to Saudi Arabia in the last week of February and was treated for fever cough and breathlessness there.

After recovery, she had travelled back to Bengaluru, where she was screened at the airport. 

Later, she reached Shivamogga where she was treated at Nanjappa Hospital for symptoms of fever, cough. 

As she has symptoms of coronavirus, she is quarantined and is under observation. The samples will have been sent to Bengaluru and the result is awaited.

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