Jarkiholi will quit Congress, he has sympathy towards Opposition: Poojary

Mangaluru, Mar 19: The officers of Directorate of Revenue Intelligence, on March 11 intercepted 2 persons - Syed Mohammed and Shri Ashoka K S - Mangalore Central Railway Station and recovered 5.6 Kgs of gold bars in crude form.

The operation was conducted based on specific information about a network of operators who were bringing smuggled gold in the form of crude bars from Calicut to Mangaluru. The gold was then re-melted and cast into 100 gms bars with foreign markings, using foreign marking moulds, and was then getting distributed to various locations in Karnataka.

Further, one Mr. Manjunath Shet alias Rupesh who was supposed to receive the said gold from the passengers was also apprehended at the parking lot of the railway station.

Simultaneous searches were conducted in three different premises in car street Mangaluru, Udupi, and Shivamogga.

Further, the source of the gold was traced to melters/jewellers in Calicut and swift follow up action was conducted leading to seizures of gold and Rs 82 lakh Cash. Two cars of Toyota Etios model belonging to the syndicate having specially designed cavities for concealment which were used for transporting cash and gold between Calicut and Mangaluru were also seized.

Naveen Chandra Kamath of Udupi, who is the master mind involved in the case was also apprehended. Overall 7 persons were arrested during the entire operation. Further investigation is ongoing in the said case to uncover the other persons involved in the racket. The total seizure was 9.3Kgs of gold, valued at approximately 4 crores, 5.2 kgs of silver along with Rs 84 lakh in cash.

The team constituted of 40 officers from Bengaluru, Mangaluru and Shivamogga took part in the co-ordinated effort.

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.

Mangaluru, Jan 8: No bandh-like situation prevailed in the coastal district of Dakshina Kannada, despite a nationwide strike called by trade union employees. Day-to-day activities are not disturbed, as buses and auto-rickshaws are moving as usual. 

However, in Bunder area, one of the business hubs of Mangaluru city, most of the shops today remained shut. As a result business was partially hit in the coastal city.

In other parts of Mangaluru city business firms, and market places are also open. Schools and colleges have not declared a holiday. government offices are also functioning as usually.

However, branches of many banks, excluding SBI, are closed for customers.

Members of various trade unions took out a rally and staged a protest in front of the Town Hall in Mangaluru.

Along with minimum wages, cancellation of contract labour system, no privatisation, welfare of farmers and other demands were also highlighted by the protestors. 

Slogans were also raised against Prime Minister Narendra Modi and anti-labour policies of his government. 

Members of AITUC, TUCC, AIUTUC, AIDYO, AIBEA, BSNLEU, INTUC, AIIEA, and associations of Anganwadi workers, mid-day meal workers, medical representatives, KSRTC employees, gram panchayat employees, and others took part in the protest.