Justice after 24 years: Abdul Nasar Madani among 8 acquitted in ISS case

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.

Bengaluru, Feb 15: The new Karnataka Minister for Forest Anand Singh on Friday said that he is ready for 'change in the portfolio' as opposition parties are leveling charges against Chief Minister B S Yediyurappa for appointing him, despite having 15 cases registered under Forest Act against him.

"If Chief Minister wants to change my portfolio, I am ready," he added.

Speaking to newsmen here, he said that there are 15 cases pending against him. The Legislator from Vijayanagara in Mine rich Ballari district said anyone can go through the Chargesheets and find out whether there are any direct charges against him. Claiming that the cases against him were 'minor violations', he had earlier linked them to traffic violations by a vehicle owner.

Mumbai, Mar 16: Shri Sai Baba sansthan trust on sunday appealed to devotees to postpone their visit to Shirdi for a few days in view of coronavirus outbreak in the country.

"As per the directives of the government, I request the devotees to postpone their visit to Shirdi for a few days," said Arun Dogre, Chief Executive Officer of Shri Sai Baba sansthan trust, Shirdi.

On Saturday, the Siddhivinayak temple located in Prabhadevi has instructed all its employees to wear masks, while hand sanitizers have been provided to everyone inside the temple.

Speaking to news agency,Siddhivinayak trust chairman , Adesh Bandekar had said, "We are providing sanitizers to all the devotees in the temple and where they stand in a queue holding the railings, are being cleaned in every 30 minutes."

Coronavirus, which originated in China's Wuhan city, has so far spread to more than 100 countries infecting over 1,20,000 people. In India, 107 persons, including foreign nationals were tested positive till March 15 at 12 pm.