Apr 12: The board and management of troubled NMC Healthcare should be held accountable for the financial irregularities, said Abdulaziz Al Ghurair, chairman of the UAE Banks Federation.
"Banks have dealt with the exposure professionally and they lent to a company which was listed on FTSE-100 index with world-class regulator and the world's largest audit firm doing their audit. Even if they present their balance sheet today, people will still lend to them. This is a world-class fraud and the management and board members should be held accountable. We should have a different track to handle this company. It is not a normal track that we can go," Al Ghurair said during a virtual press conference on Sunday.
It is estimated that the more than 80 local, regional and international banks have exposure to healthcare firm. The UAE bourses had asked all the listed companies in the UAE to announce their exposure. The UAE banks last week announced nearly Dh10 billion exposure to NMC Healthcare, which is owned by the billionaire BR Shetty.
Abu Dhabi Commercial Bank has the highest exposure to NMC at Dh3 billion. Dubai Islamic Bank and its subsidiary Noor Bank announced Dh2 billion exposure while Emirates NBD and its Shariah-compliant unit Emirates Islamic Bank revealed Dh747.34 million exposure. Ajman Bank has Dh151.8 million while Al Salam Bank pegged its exposure at Dh161.5 million. All these lenders revealed their exposure for the first time on Sunday.
Abu Dhabi Islamic Bank said it had extended Dh1.07 billion in financing to NMC Healthcare, and an additional Dh113.67 million exposure to Islamic bonds issued by NMC.National Bank of Fujairah pegged its exposure to NMC at Dh289.1 million, while Sharjah-based United Arab Bank said its exposure was Dh135.3 million.
NMC recently revised its debt position to $6.6 billion, well above earlier estimates.
London's High Court last week placed hospital operator NMC Health into administration, on the application of Abu Dhabi Commercial Bank.
"I know leading bank in UAE have already legal guardian of the company so now management cannot hide anything. The new team will manage and discover what happened," said Al Ghurair.
Comments
one of the chut#yst man i ever seen in this news portal..do you think modi is internet email so all the people with him...first change your cow dunge to human brain and come to mangalore for treatment...
Doctor name Dr Kamath surgen 9967453786...
is it ok for you to replace with bakra brain...then dont blame muslim for that..reason we have sortage of human brain due to election
Ananth Kumar, what have you done for the people other then living the life style of the rich and famous with the poor tax payers money and warming up your seat. Nobody can match Siddaramiah he has done 100 foldes of you guys had done.. BJP leaders have nothing tangable to show that's why you guys keep bring up the watch issue. Please vote for Congress! so Siddaramiah can be our CM for a better future for the people of Karnataka.
Moustache still black by the grace of Kolesston colour but Laak chupawo Chupna sakegha Jhoota bjp walon ka jhoot ka chehra. Shakuni mamoo next mp election u will not be anywhere in Karnataka Map.
Wait and watch. first leg will be within a week and the final leg 2019 supda saap no adress of bjp or rss or u.
Anant, thu kasan sangtha maraya, lutha bais. 15 May pale Kazan zatha mum. Yeddi che chaddi votha.
Dear Ananthkumar, you are able and fit leader to be next CM of karnataka. You are always tellig the truth and open to all. We, the people of your constituency fully support you as our care taker and helping us. You are like our God Father.
Anant Kumar is 100 percent correct. Cogress will not get a single seat against the wave's of MODI and YOGI. Our great national hero leader PM Modi has already told that people of Karnataka have made their mind to kick out Congress and select only BJP in karnataka and to be followed by Kerala, Tamil Nadu and Andhra. I think Electon Commission should stop voting in Karnataka to save billions of Rupees as people have already informed our Leader great Modi that they will vote for BJP only. It will be a waste of money for Congress and other parties also as BJP is going to sweep almost all the seats. Our PM is a great astrologer and has dreamt about the win in Karnataka and whatever he dreams it comes true. He had dream of becomingPM of india and it became true. He also dreamed that he will visit also all the countries in the world and its nearly completing as he has left only few countries to visit. Jai Modi ji . Jai Hind.
All Bjp leadrs are day dreaming for power in karnataka which will end on 15th may 2018.Let them happy upto that day. JAI KARNATAKA JAI INDIA.NO FEAR INDIA IS OUR SLOGAN.
Ananth Kumar and Anant Kumar Hegde, both are same in mindset. always spits nonsenses
A study shows BJP is 'richest' political party and the money not in the name of party it's owned by BJP leaders individually. They are not showing it while filing nomination and they are not paying income tax also
The irony is, cow dung fools are criticising normal people
Soon BJP will be eradicated from India due to Computer baba, rapist BJP MLAs, Yogi and Feku etc
In other countries, ministers and elected persons will be highly qualified specific area focused people. Here in India, all BJP MLAs and ministers are some cow dungs
India will be free of BJP due to Modi and his MLA fools
I am not a supporter of any political leader or party. But yeah i'll definitely choose a candidate wisely while voting irrespect of his caste or party.
Mr. Ananth kumar what you know about the facilities the present govt has provided for the farmers by sitiing in Delhi?
Mr. Siddu ( I am not a suppoter of him anyway) has done Something for the farmers of his state. Dont blindnly fool the people of karnataka.
Its sad that farmers are ending their lives all over India..
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