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 28,2020

Mandya, Jun 28: Prime Minister Narendra Modi praised an 83-year-old farmer from Malavalli taluk in Mandya district of Karnataka for his efforts in water conservation.

While urging the people to focus on saving water, Modi, in his 'Man Ki Baat' on All India Radio quoted Kamegowda from Dasna Doddi village who single handedly dug small 16 ponds over the years in his farm land and in nearby hill while taking his animals for grazing.

"Kamegowda ji is an ordinary farmer, albeit possessing an extraordinary personality. He has achieved a personal feat that will leave anyone awestruck! Kamegowda ji, aged 80-85 takes out his animals for grazing but at the same time he has taken it upon himself to build new ponds in his area", the PM said in his Mann Ki Baat, a monthly radio address on Sunday.

To overcome problems of water scarcity in the area, Gowda started building small ponds. Thereby, he contributed a lot for water conservation, the PM said.

"... An octagenerarian like Kamegowda ji, till now, has dug 16 ponds through his hard work and the sweat of his brow. It is possible that the ponds he has constructed may not be very big but then his efforts are huge. Today, the entire area has got a new lease of life on account of these ponds," the PM said.

A little effort by us helps nature and environment quite significantly. Many of our countrymen are putting extraordinary efforts in this endeavour, the PM said. 

Kamegowda, used to take his sheep and goats to nearby hill for grazing. After finding no water to sheeps, he started digging ponds to address water scarcity. With collection of rain water, these lakes are brimming with water even during peak summer.

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coastaldigest.com news network
May 22,2020

It has been 33 years since the night of 22 May, 1987 when nearly 50 Muslim men from Hashimpura, a settlement in Meerut were rounded up and packed into the rear of a truck of the Provincial Armed Constabulary (PAC), an armed police of Uttar Pradesh. It was the blessed month of Ramadan and all the Muslims were fasting.

That night 42 of those on board the truck were killed in two massacres in neighbouring Ghaziabad district. One along the Upper Ganga canal near Muradnagar, the other along the Hindon canal in Makanpur, on the border with Delhi.

The cops had returned home after dumping the dead bodies into the canal. A few days later, the dead bodies were found floating in the canal and a case of murder was registered. 

Vir Bahadur Singh was the chief minister of Uttar Pradesh and Rajiv Gandhi was the prime minister of India when this incident took place. 

Not much has changed for the survivors and the relatives of the victims even today. The wounds are still fresh. Hashimpura remains devoid of basic municipal amenities, the erring silence on the narrow lanes of the locality amid the activities of a daily life speaks of the horror of the fateful day in 1987.

The massacre was the result of one among the many outcomes of the decision taken by the Rajiv Gandhi government to open the locks of Babri Masjid. After a month of rioting, the situation was tense in various parts of Meerut, and a lot spilled over in the nearby areas.

Timeline

May 22, 1987

Nearly 50 Muslims picked up by the PAC personnel from Hashimpura village in Meerut, Uttar Pradesh.
Victims later shot and bodies thrown into a canal. 42 persons declared dead.

1988

UP government orders CB-CID probe in the case.

February 1994

CB-CID submits inquiry report indicting over 60 PAC and police personnel of all ranks.

May 20, 1996

Charge sheet filed against 19 accused before Chief Judicial Magistrate, Ghaziabad by CB-CID of Uttar Pradesh police. 161 people listed as witnesses.

September 2002

Case transferred to Delhi by the Supreme Court on a petition by the families of victims and survivors.

July 2006

Delhi court frames charges of murder, attempt to murder, tampering with evidence and conspiracy under the IPC against 17 accused.

March 8, 2013

Trial court dismisses Subramanian Swamy's plea seeking probe into the alleged role of P Chidambaram, then Minister of State for Home, in the matter.

January 22, 2015

Trial court reserves judgement.

March 21, 2015

Court acquits 16 surviving accused giving them benefit of doubt regarding their identity.

May 18, 2015

Trial court decision challenged in the Delhi HC by the victims' families and eyewitnesses who survived the incident.

May 29, 2015

HC issues notice to the 16 PAC personnel on Uttar Pradesh government's appeal against the trial court verdict.

December 2015

National Human Rights Commission is impleaded in the matter. NHRC also seeks further probe into the massacre.

February 17, 2016

HC tags Swamy's appeal with the other petitions in the matter.

September 6, 2018

Delhi HC reserves verdict in the case.

October 31, 2018

Delhi HC convicts 16 former PAC personnel for life after finding them guilty of the murder of 42 people.

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Agencies
February 7,2020

Thiruvananthapuram, Feb 7: Making a scathing attack on the Central government, Kerala Finance Minister Thomas Issac on Friday said the BJP-led NDA government was "strangulating" the southern state by denying funds.

Presenting the 2020-21 budget of the Pinarayi Vijayan led-LDF government, he alleged the centre has been "helping" corporates rather that the common man.

"The Centre has been strangulating Kerala by denying funds for the state and has been moving on a self-destructive path by corporate-friendly policies and privatisation. The GST implementation has not been beneficial for the state," he said.

"The government proposes 2.5 lakh water connections in the upcoming financial year. We will also construct one lakh houses under Life Mission," the finance minister said.

The budget has allocated Rs 90 crore for Pravasi Welfare Fund and the government proposes power projects with a capacity of 500 MW.

"The government proposes Kochi development plan with a fund of Rs 6,000 crore. The city will get an unified travel card and Metro project will be extended," Issac said.

The state government has increased all welfare pension funds by Rs 100, allotted Rs 40 crore to paddy farmers and Rs 10 crore for startups in the state.

The local self-governments have been allotted Rs five crore for waste management, Rs 20 crore has been set apart for 1,000 food stalls under hunger-free Kerala, where meals will be made available at Rs 25. 

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