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 news network
June 16,2020

New Delhi, Jun 16: The class 10 and 12 students of the CICSE board can choose not to appear for pending board exams and be marked as per their performance in pre-board exams or internal assessment, according to top officials.

The board had also submitted the proposal before the Bombay High Court on Monday in response to a petition filed by a parent seeking directions to the authorities to cancel exams in view of the spike in COVID-19 cases.

According to Gerry Arathoon, Chief Executive and Secretary, Council for the Indian School Certificate Examinations (CISCE), the students will have to communicate their option to their respective schools by June 22.

For latest updates on coronavirus outbreak, click here

The exams which were postponed due to the lockdown to contain the spread of coronavirus, are now scheduled to be conducted from July 1 to 14. However, several parents have been demanding the exams be scrapped.

"The students will be given two options---they either appear for the rescheduled exams or choose to have their results based on their performance in the pre-board exams or internal assessment. The option will be available only for the pending exams, the result of the subjects for which exams were already conducted, will be calculated as per performance in the exam only," Arathoon said.

The board also clarified that the students will not be entitled to make a subject-wise choice between the two options for pending exams.

Unlike the Central Board of Secondary Education (CBSE), which will only be conducting exams in 29 subjects crucial for promotion and admission to higher educational institutions, the CISCE will be conducting all pending exams.

The pending CBSE exams are scheduled from July 1 to 15. The schedule for the board exams has been decided in order to ensure that they are completed before competitive examinations. While the engineering entrance exam JEE-Mains is scheduled to be held from July 18 to 23, the medical entrance exam NEET is scheduled for July 26.

While the CBSE has given the option to not appear for pending board exams for differently-abled students, it has canceled the examinations for its around 250 schools situated abroad and has adopted the criteria of awarding marks on the basis of either practical exams conducted or the internal assessment marks.

Coronavirus India update: State-wise total number of confirmed cases, deaths on June 16

A group of parents has filed a petition in the Supreme Court seeking a direction to the CBSE to declare results on the basis of tests already conducted, and calculate the total on an average basis with internal assessment marks of the remaining subjects.

Universities and schools across the country have been shut since March 16, when the Centre announced a countrywide classroom shut down as part of measures to contain the COVID-19 outbreak. A nationwide lockdown was announced on March 24, which came into effect the next day.

While the government has eased several restrictions, schools and colleges continue to remain closed.

According to Home Ministry guidelines, there will be no exam centres in containment zones.

"Wearing of face masks by teachers, staff and students will be mandatory. There shall be provisions of thermal screening and sanitiser at the centres and social distancing rules will have to be followed at exam centres. Special buses may be arranged by states and UTs for transportation of students to exam centres," the Home Ministry has said.

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News Network
March 13,2020

Bengaluru, Mar 13: District administration in Kalaburagi, where the first death in India due to COVID-19 was reported, has identified over 25 people, who come close to the deceased and quarantined for observation, Minister for Health B Sreeramulu said on Friday.

In reply to a debate on the issue during Zero Hour of the Legislative Assembly, the Health Minister said that two members of the victim’s family and 23 others are suspected of COVID-19.

Mr. Sreeramulu said all the schools of the district have been as a preventive measure to contain the deadly virus.

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News Network
April 22,2020

Mangaluru, Apr 22: A staff working at the office of Dakshina Kannada Deputy Commissioner was sent to quarantine as a precautionary measure here in the city on Wednesday.

The staff reportedly is a distant relative of a woman (native of Bantwal) who recently died due to killer Corona Virus in Wenlock Hospital, prompting the DC office to send the staff for 14-day quarantine.

According to the reports the staff had met the Doctor who was treating the woman and had inquired about her health condition on April 18.

However the staff did not meet the woman when she was in hospital as she was being treated in the ICU.

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