Forget UAE banks, B R Shetty owes  Rs 19.13 billion to Bank of Baroda too

News Network
May 19, 2020

Mumbai, May 19: Even as banks in United Arab Emirates are trying to trace NMC founder BR Shetty, a prominent bank in India is seeking to recover loans worth Rs19.13 billion from him and his companies. 

A local court has also barred him and his wife from selling or transferring some properties while it hears the case.

In the court filing, the Bank of Baroda said Shetty had an obligation to handover the title deeds of the 16 properties and mortgage the assets with the bank.

The 16 properties in several Indian cities including Bengaluru were among guarantees put up by Shetty and his wife against the Rs19.13 billion ($253 million) loans, according to a May 16 court order seen by Reuters. The court in Bengalaru set the next hearing in the case for June 8.

NMC, the largest private healthcare provider in the UAE, was placed under administration in April after months of turmoil. It disclosed in March it had debts of $6.6 billion, well above earlier estimates of $2.1 billion.

Finablr, in which Shetty has a controlling stake, said in April it may have nearly $1 billion more in debt than previously reported.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
May 13,2020

Mangaluru, May 13: Karnataka revised its standard operating procedure (SOP) for international passengers to allow pregnant women, children and senior citizens to entre home quarantine if they test negative for covid-19. 

The development comes after former minister and Mangaluru MLA U T Khader urged the government to follow the Kerala model in handling the repatriates and take extra care of pregnant women and senior citizens at Mangaluru and Bengaluru Airports.

Passengers will be initially dived into two categories. Category A includes passengers symptomatic on arrival while Category B passengers are those asymptomatic on arrival. 

While category A passengers will be directly shifted to covid-19 hospital, category B passengers will be sent to 14-day institutional quarantine.

If there are pregnant women, children below 10 years of age and senior citizens in category B, they will remain in institutional quarantine until they obtain a negative report (after throat swab testing for covid-19). It may take one or two days to get the throat swab testing report. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 5,2020

Chennai, Feb 5: In order to ensure housing for all, the Madras High Court has proposed ban on non-resident Indians from purchasing houses in India, prohibit speculative sale, and impose 100 per cent extra stamp duty on purchase of second house.

The court on its own impleaded the Union housing and finance ministries as party respondents.

It has directed them to answer a series of questions including as to how many families have basic amenity of housing in India as well as in Tamil Nadu, population and housing ratio in the country and in the state, when 'Housing for All' mission of the central government would be achieved.

"Why the government does not consider imposing such restrictions to control escalation of house prices and to provide a house to every family in the country, a division bench of Justice N Kirubakaran and Justice Abdul Quddhose wondered.

Directing the authorities to inform as to whether the central and state have got special schemes to provide housing for the marginalized and economically weaker sections including SC/ST communities, the bench has also sought the details of the number of families that possess more than one house.

"Why the governments do not restrict families/individuals from purchasing/possessing more than one housing unit/flat/plot till "Housing for all" is achieved?

Why not the government charge 100 per cent more or extra stamp duty to discourage buying more than one house by a family while purchasing second house?

Why not the government conditionally allow the families to purchase more than one house provided the said family pays 100 per cent extra statutory dues like property tax, electricity charges, water and sewerage charges on the second property?" the bench said.

This apart, the court also wanted the authorities to know as to why it should not prohibit the NRIs from purchasing houses in India to bring down the cost of housing.

Justifying its directions, the court said "Lakhs and lakhs of people are living on platforms, roads, and cement pipes, slums, under the trees and on banks of water bodies without proper shelter and basic amenities and safety."

It is true that the Centre had taken a policy decision to provide housing unit to every family.

It should be achieved at the earliest, the court said, adding it could become fruitful when restrictions are put on persons who hold more than one housing units.

The court passed the order while hearing an appeal moved by the Tamil Nadu Housing Board challenging a single judge order against acquisition of about 369 acres of private land in Thudiyalur and Vellakinar areas of Coimbatore for a housing scheme.

Comments

Suresh SS
 - 
Wednesday, 5 Feb 2020

We believed that only Indian Govt. ministers, MP and MLAs has this disease, now it is spreading everywhere even Indian High courts. it is certainly very harmful virus  

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 18,2020

Bengaluru, Feb 18: A 26-year-old Kannada singer committed suicide over alleged dowry harassment on Monday. Sushmitha, a playback singer who got married to Sharath Kumar about one-and-a-half years ago, hung herself from the ceiling at her parent's home in Nagarabhavi, Bengaluru on Monday.

The singer sent a Whatsapp to her brother and mother before hanging herself early morning on Monday. She accused her husband and his relatives of dowry harassment in her death note.

According to Bengaluru Police, the singer has accused her husband, his sister and his aunt of harassing her for dowry in her death note. On Monday morning, Sushmitha's brother alerted the police after he found her dead body hanging from the ceiling. She used her dupatta to hang herself.

Sushmitha had lent her voice for Kannada songs in films like Haalu Thuppa and Srisamanya.

Police informed that Sushmitha sent a Whatsapp message to her brother, Sachin, at around 1 am on Sunday and explained that her husband Sharath and her relatives have been harassing her since the time she got married. Sachin read the message at around 5:30am and rushed to her room where he found her hanging from the ceiling.

In the text message, Sushmitha wrote that her husband, Sharath, his sister, Geetha, and his aunt, Vydehi, harassed her and they were the reason behind her ending her life. She also stated that she did not want to end her life in their house and hence came to her parents’ house.

The Annapoorneshwari Nagar police have registered a case of dowry death, charging her husband and his sister and aunt based on complaint filed by Sushmitha’s mother Meenakshi. The three accused are on run after hearing about her death and police said that efforts are on to trace them.

Sushmitha's husband Sharath Kumar is a manager in a car showroom and a resident of KS Nagar in Bengaluru.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.