Mangaluru: 19-year-old boy dies as fish tempo knocks down two-wheeler

Abu Dhabi-based NMC Healthcare has reportedly received bids to sell its distribution unit and will soon be selling it to different parties.

The development comes over three months after NMC Healthcare’s founder and then-chairman B R Shetty stepped down amid allegations of massive fraud. 

The company, which recently laid off hundreds of workers, is offloading stake in the subsidiary as it is considered non-core and requires substantially high working capital to run the operations. In addition, this stake sale will help the company pay off some of its debt

"There are parties who have strong interest in the distribution business. NMC will be offloading the unit soon and that also to different parties," a source said.

"The company is in the process of exploring options for NMC Trading, the group's distribution business, which it has determined to be non-core and requiring substantial levels of working capital. The process should not materially adversely impact distributors' activities, nor NMC Trading's customers," an NMC Healthcare spokeswoman said.

The UK-court has appointed Alvarez & Marsal as administrator to oversee the operations of the debt-ridden hospital operator. The healthcare firm has been caught in a whirlpool of $6.6 billion debt while its senior former high management team is under investigation for financial irregularities.

The UAE Central Bank has direct local banks to freeze all bank accounts of NMC founder BR Shetty and his family members as well as accounts of those companies where he has a stake. The Central Bank move is subsequent to a criminal complaint filed by Abu Dhabi Commercial Bank, which has the largest exposure to NMC Healthcare, amounting Dh3 billion.

As the company faces financial difficulties, Reuters reported that NMC Health delayed May staff salaries and now expects to complete making payments by the first week of June.

The spokeswoman said: "The company has been in regular dialogue with its creditor constituencies through various creditor committees, including the direct bank lenders to its NMC Trading businesses."

Mangaluru, Mar 25: In the wake of coronavirus outbreak, Nalin Kumar Kateel, Member of Parliament today declared that the coastal city of Mangaluru will remain completely shut tomorrow, (March 26) onwards.

"Today the people were given time to go out of their houses to buy essentials today. But from tomorrow, this will not be allowed," the MP said. 

"We are discussing with officials of all departments about ways to manage the situation. Essential things and facilities people need, will be delivered at their doorsteps. We are sorting out how to deliver the items on behalf of the government and mode of delivery of items to apartment complexes," he said.

He said that a large number of patients from Kasaragod had come into the city yesterday. Hence, the district administration has taken a decision, he said.

"Under the present circumstances, the hospitals in the city would not be sufficient for our purpose. So the administration will not allow any vehicles including ambulances into the city. All the ambulances would be blocked from entering Dakshina Kannada district at Talapady border and sent back," he said.

Udupi, Jan 30: Fishermen in Udupi’s Malpe have netted ‘spanner crab’, a rare variety of deep sea crab, mostly found in Australia and Hawaiian coast.

Hundreds of onlookers were surprised to the see the catch when it was brought to Malpe harbour by the fisherman Prashanth Kunder and others on Tuesday evening.

Dr Shivakumar Haragi, Assistant Professor at Karnatak University, PG Centre Department of Marine Biology, Karwar identified this crab variety as ‘spanner crab’ and the scientific name of this crab is Ranina Ranina.

Ranina Ranina is mainly nocturnal as it remains active during night and is found buried in sand during the day .It is easily distinguished from other crab species in its habitat due to its red carapace and elongated midsection.

Resembling a frog in its shape, this crab species is found mainly in Africa, Hawaiian coast and also in the Great Barrier Reef, located in the Coral Sea, off the coast of Queensland, Australia. Its lifetime is seven to nine years and each crab weighs around 400-900 grams.

Prashanth Kunder and his associates have also netted a rare fish variety called yellow-edged lyretail. Another unique variety fish netted by Prashanth is epinephelus flavocaeruleus.