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Dubai, Jul 25: The founder of NMC Health, BR Shetty, has had a worldwide freezing order placed on his assets at the request of a lender that claims he has defaulted on a loan of more than $8 million (Dh29.4m).

The order was granted to Credit Europe Bank (Dubai) last month ahead of a claim filed at the DIFC Courts against Mr Shetty, New Medical Centre Trading and NMC Healthcare.

The lender said in its claim they “are jointly and severally liable” for the repayment of money initially secured through a credit agreement in December 2013 and renegotiated in December last year. Credit Europe Bank is an Amsterdam-headquartered institution specialising in trade and commodities finance with operations in nine countries.

The credit agreement was guaranteed by two security cheques which the bank said in its claim were signed by Mr Shetty – one drawn on his personal account and another on the account of New Medical Centre Trading – that have been "dishonoured upon presentation due to insufficient funds".

The bank claimed Mr Shetty “has now fled the jurisdiction of the UAE to India” and that there was a risk of his “substantial” assets in the Emirates being dissipated.

The assets frozen include properties in Abu Dhabi and Dubai, as well as shares in NMC Health, Finablr, BRS Investment Holdings and other companies. It allows for up to $7,000 per week to be spent on “ordinary living expenses and reasonable sum[s] on legal advice and representation”, a DIFC Courts document granting the freezing order shows.

Credit Europe Bank declined to comment when contacted by The National, stating it does not comment on ongoing litigation proceedings. Representatives for Mr Shetty and for NMC Healthcare, which is now being run by administrators Alvarez & Marsal, also declined to comment.

NMC Healthcare was founded by Mr Shetty in 1975 and grew from a single hospital into the UAE’s biggest privately-owned healthcare operator, which employed 2,000 doctors and 20,000 other staff. The company was listed on the London stock exchange and at its peak was valued at £8.58 billion (Dh40bn). However, its shares slumped after short seller Muddy Waters Research issued a report in December 2019 alleging the company had inflated its cash balances, overpaid for assets and understated its debts. This led to a string of damaging revelations by the company, including the fact that its debt was materially higher – at $6.6bn – than the $2.1bn on its balance sheet. NMC Healthcare was placed into administration in April by its biggest creditor, Abu Dhabi Commercial Bank, but its UAE businesses continue to trade as a going concern.

Mr Shetty said in a statement issued in April that he has been a victim of fraud committed by "a small group of current and former executives” at companies owned by him. He said bank accounts were created in his name and transactions were made without his knowledge, and that loans, cheques and bank transfers were also fraudulently guaranteed in his name using his forged signature.

In response to the claim filed by Credit Europe Bank (Dubai) at the DIFC Courts, Mr Shetty says he did not personally guarantee loans made to NMC Trading or NMC Healthcare and that the signatures used on cheques guaranteeing the loans are forgeries. His defence cites the opinion of “Dr Al Bah, an independent, experienced and qualified forensic document examiner”, that someone other than Mr Shetty signed the lending agreements and cheques.

An application by NMC Trading and NMC Healthcare to the DIFC Courts to have the claim against it heard in private for fear of triggering claims by other lenders – the group owes money to around 80 local, regional and international lenders – was dismissed, given that the appointment of administrators at the group and allegations of fraud at the company are already in the public domain.

Both companies have indicated to DIFC Courts that they intend to contest the claim against them.

Bengaluru, Jun 2: Karnataka recorded a biggest single day spike of 388 COVID-19 cases, with returnees from neighboring Maharashtra continuing to add to the state's tally, taking the total number of infections in the state to 3,796, the health department said on Tuesday.

With 367 out of 388 new cases being returnees from other states, mostly from neighboring Maharashtra (357), the Karnataka government said it was mulling over increasing institutional quarantine for those returning from the western state. Meanwhile, achieving a milestone in the battle against the coronavirus,the Karnataka Institute of Medical Sciences at Hubballi has successfully treated a COVID-19 patient through plasma therapy.

"Maharashtra (returnees) is a major worry for us, already 15,000-20,000 people have come from Maharashtra, still 2000 odd people may come to each district, as we have allowed so many people already, we have decided to allow them also, Revenue Minister R Ahoka said.

Speaking to reporters here, he said ".....cases coming from Bombay and Pune are turning out to be positive, we have to take extra caution, seven days quarantine (institutional) is of no use, we want to increase it specifically for those returning from Maharashtra.

We will take a decision soon and issue order." Chief Minister B S Yediyurappa earlier directed district authorities including the Deputy Commissioners and Superintendents of Police to camp at taluk centres and work towards curbing the spread of COVID-19. Pointing out that COVID-19 cases were increasing in the state because of returnees from Maharashtra, he asked officials to take all necessary measures to check it, his office said in a release. The previous biggest single-day spike was recorded on May 31 with 299 cases. As of June 2 evening, cumulatively 3,796 COVID-19 positive cases have been confirmed in the state, which includes 52 deaths and 1,403 discharges, the health department said in its bulletin.

It said out of 2,339 active cases, 2,325 patients are in isolation at designated hospitals and are stable, while 14 are in ICU.

According to the bulletin,75 patients have been discharged today.

Medical Education Minister K Sudhakar said Karnataka Institute of Medical Sciences in Hubballi has successfully treated a COVID-19 patient through Plasma Therapy.

"Karnataka achieves yet another milestone in battle against #COVID19.

KIMS Hubli has successfully treated a Covid19 patient through Plasma Therapy & is the first institute in the state to accomplish this. Congrats to KIMS doctors & staff for this feat!" the Minister tweeted.

Among the districts where the new cases were reported, Udupi accounted for 150 cases, followed by Kalaburagi 100, Belagavi 51, Raichur 16, Bengaluru urban 12, Bidar 10, nine each from Bagalkote and Hassan, Davangere seven, Yadgiri five, four each from Mandya and Vijayapura, Bengaluru rural three, two each from Chikkaballapura, Dharwad and Tumakuru, and one each from Kolar and Haveri.

Udupi district tops the list of positive cases with 410 infections, followed by Kalaburagi 405 and Bengaluru urban 397.

Among discharges too Bengaluru urban tops the list with 237 discharges, followed by Kalaburagi 128 and Davangere 121.

A total of 3,19,628 samples have been tested so far, out of which 14,812 were tested on Tuesday alone.

According to the bulletin, 3,10,967 samples have reported as negative, 13,915 on Tuesday alone.

Patna, Mar 31: In arguably the first of its kind incident in the country, a young man in Bihar was beaten to death precisely because he had informed the district control room about two corona suspects who had arrived here in the State from Mumbai.

The incident took place in Sitamarhi in North Bihar where a 20-year-old youth Bablu Kumar was allegedly killed by Sudhir Mahto and Munna Mahto.

The two Mahtos had arrived from Mumbai to Sitamarhi around ten days back. Bablu, in the meantime, informed the district control room about the arrival of two persons from a State where a large number of people were afflicted with coronavirus.

A team of doctors on March 24 reached Runnisaidpur in Sitamarhi to examine the two suspects. Three days later, these two persons from Maharashtra tested negative.

But the incident (of informing control room and subsequent medial test) created such enmity between the family of Mahtos and Babloo that on Sunday when they found the 20-year-old young man sitting alone, they thrashed him so mercilessly that he died on the spot.

Shocked and grief-struck, Babloo’s father Vinod Singh eventually lodged an FIR with the police and named Sudhir Mahto, Munna Mahto, and their family members as accused in the killing of his son.

The police on Monday raided the place and arrested the Mahtos.

But then, this is not an isolated case of violence. In another incident that took place in Bihar’s Jehanabad district, a BDO Ajay Kumar and a police officer Chandrashekhar Kumar were attacked by fellow villagers when the officials reached there to quarantine those migrants who had reached there from Delhi. So angry were the villagers with the officials’ move to isolate the migrants that they smashed the window-panes of the government vehicles and attacked the officials.

The officials had to beat a hasty retreat. But they soon returned with additional police team which used brutal force and took local leaders into custody before restoring normalcy in the area.