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.

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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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JDS Supremo calls party workers to fight against anti-farmer policies of BJP govt

News Network

July 16,2020

Bengaluru, Jul 16: Former Prime Minister and JDS supremo H D Devegowda on Thursday gave a clarion call to party workers to take steps to strengthen the party from the grossroots level and to 'expose the failures' and 'anti-people' policies of BJP government both at the Centre and State.

In an open letter to the workers here, he alleged that the urgent need is to create awareness among the people about failure of the governments which have brought in policies which are deterrent to the poor and downtrodden.

BJP government headed by Chief Minister B S Yediyurappa in Karnataka has come up with an amendment to the Land Reforms Act,1961, which is 'against' interests of the small and medium farmers as even a non-agriculturist can purchase agriculture land, thus giving an opportunity to the rich people to 'exploit' illiterate farmers and purchase their land and use it for some other purpose after some time.

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As covid cases continue to mount, Karnataka govt changes travel rules

Agencies

June 15,2020

Bengaluru, Jun 15: Karnataka Chief Minister B S Yediyurappa on Monday said those coming to the state from Chennai and Delhi will have to undergo three days of institutional quarantine followed by 11 days of home isolation.

Up till now a seven-day institutional quarantine was prescribed for those returning from Maharashtra, while there was no mandatory institutional quarantine for asymptomatic people returning to Karnataka from other states.

Those returning from states other than Maharashtra were asked to quarantine themselves at home.

"Those coming from Maharashtra are subjected to seven days of institutional quarantine followed by seven days of home quarantine, while those coming from Chennai and Delhi will have to go for three days of institutional quarantine and eleven days of home quarantine," Yediyurappa said.

Speaking to reporters here, he said the decision has been taken following the increase in the number of coronavirus cases from these states.

"It is because of returnees from other states the cases have increased, not because of the local (intra-state) movement, so we have to control people coming from outside, we have to quarantine them and have to tighten measures.

We are making honest efforts in this regard," he added.

Yediyurappa was speaking to reporters after chairing a meeting with top ministers and officials to discuss about the surge in COVID cases in the state.

"There are no plans for any lockdown, and we will request the Prime Minister for more relaxations," the Chief Minister said in response to a question.

Out of total 7,000 cases in the state 4,386 are returnees from Maharashtra and their contacts are 1,340.

Those who returned from abroad comprise 216.

Returnees from other states constitute- Delhi 87, Tamil Nadu 67, Gujarat 62.

Noting that there are indications that the coronavirus infections are expected to increase in the days to come, Yediyurappa assured people that the government will take all precautionary measures required, and appealed to people to cooperate, follow social distancing, and wear masks.

He said it has been decided to observe the coming Thursday as "mask days" by organising a walk across the state and the main event will be held at Vidhana Soudha, the state secretariat.

"Strict measures will be taken against those not wearing masks and not maintaining social distancing here on.

Initially Rs 200 fine will be imposed, this will be throughout the state," he said.

Further stating that the government has made special efforts to control the spread of COVID, he said a special COVID-19 taskforce has been constituted for Bengaluru and surrounding areas, BBMP (city civic body) commissioner and Deputy Commissioners of neighbouring districts have been asked to pay special attention.

As of June 14 evening, cumulatively 7,000 COVID-19 positive cases have been confirmed in the state, which includes 86 deaths and 3,955 discharges.

Out of 2,956 active cases in the state till last evening, 2,940 patients are in isolation at designated hospitals and are stable, while 16 are in ICU.

Yediyurappa said the state's mortality rate is 1.2 per cent while the national average is 2.8 per cent.

The state's recovery rate is 56.6 per cent and the national average is 51 per cent, he said, adding that 93 per cent of the total cases are asymptomatic while the remaining seven per cent are symptomatic.

In Bengaluru, there are 697 cases and out of them 330 are active. The city has reported 36 deaths.

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