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Dubai, Apr 26: The Central Bank of the UAE (CBUAE) has instructed financial institutions in the country to search and freeze all bank accounts of Indian billionaire BR Shetty and his family along with those of companies where he has a stake.

The apex bank has also blacklisted several firms associated with Shetty along with their entire senior management.

In an advisory issued last week, CBUAE cited decisions of the Federal Attorney General and asked financial institutions to search and freeze any bank accounts, deposits or investments in the name of Shetty or his family members.

Financial institutions have been directed to stop transfers from these accounts and deny access to deposit boxes.

Currently in India and facing a string of charges, Shetty is the founder of NMC Health.

The heathcare provider was placed into administration by a UK court recently following an application by the Abu Dhabi Commercial Bank (ADCB) which alone has an exposure of $981 million (Dh3.6 billion).

Overall, UAE banks have a combined exposure of more than Dh8bn to NMC which owes money to Oman-based banks and financial institutions as well.

Probing credit facilities
The Central Bank has sought information about credit facilites extended to the Shettys along with details of their safe deposit boxes and the financial transfers they have made till date.

A similar advisory has been issued for NMC Healthcare and NMC Holding, based on the decision of the Head of Plenary Fund Prosecution.

The Central Bank has also blacklisted several companies associated with Shetty. Key staff members of these firms have been similarly blacklisted.

New Delhi, Jun 11: Petrol and diesel prices on Thursday were hiked by 60 paise per litre each - the fifth straight daily increase in rates since oil PSUs ended an 82-day hiatus in rate revision.

Petrol price in Delhi was hiked to Rs 74 per litre from Rs 73.40 while diesel rates were increased to Rs 72.22 a litre from Rs 71.62, according to a price notification of state oil marketing companies.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

This is the fifth daily increase in rates in a row since oil companies on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus.

In five hikes, petrol price has gone up by Rs 2.74 per litre and diesel by Rs 2.83.

New Delhi, Apr 8: The Supreme Court on Wednesday suggested that all tests to identify coronavirus positive patients should be conducted free of cost and asked the Central government to look into creating a mechanism for providing reimbursement for the same.

A bench headed by Justice Ashok Bhushan, while hearing a PIL via video-conferencing, suggested that the test should be conducted free of cost in the identified private laboratories and said that the court will pass appropriate order on the matter.

The apex court was hearing a PIL filed by lawyer and petitioner Shashank Deo Sudhi seeking direction to the Centre and other respective authorities to provide free of cost the testing facility for COVID-19 to all citizens in the country.

Solicitor General Tushar Mehta submitted that 118 laboratories were doing 15,000 test capacity per day and added that 47 private laboratory chains have also been involved for the same.

During the hearing, the court asked the Centre to ensure private labs don't charge a high amount for the test and suggested that the government can create an effective mechanism for reimbursement from the government for tests.

Mehta said that they will look into the suggestion and will try to devise what can be done best.

Sudhi, on the other hand, submitted that testing of coronavirus is very expensive and therefore the Central government should take all necessary steps to provide free of cost the testing facility for COVID-19 kits and others to all citizens in the country.