Mangaluru: Infosys teams sweep IT Cricket Bash

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.

Bengaluru, June 21: Three youngsters lost their lives when an alleged wheeling stunt turned near Jakkur flyover in the city today morning. 

The deceased have been identified as Mohammed Hadi, Ahmed Khan and Syed Riaz, all residents of Nagavara Govindapura.

The tragedy took place at around 6:30 a.m. While two among them died on the spot, the third one breathed his last at a hospital, soruces said.

Yelahanka traffic police have registered a case in this regard. 

New Delhi, Mar 2: The bloodthirsty arsonists allegedly hired by pro-CAA politicians in the capital of India to target Muslims, did not spare even the house of a Muslim leader of BJP.

Akhtar Raza, the BJP’s minority cell vice-president for the Delhi Northeast district, is now not in a position to share his pain with anyone. 

Even the police hadn’t come to his rescue, when the mob raising “Jai Sri Ram” slogans burnt down his house at Bhagirathi Vihar Nalla Road in northeast Delhi last week. 

“They were chanting slogans. Around 7pm, they started throwing stones at us. I called for police help. But the police asked me to leave. We managed to flee before they burnt my house and destroyed everything,” Raza, who returned today to witness the destruction, told media persons. 

“Those who attacked us were not locals. They were outsiders. They managed to identify and burn down all the 19 houses belonging to Muslims in this lane,” Raza said.

Apart from all the belongings in the house of Raza, the arsonists also have burnt down six vehicles belonging to his family. 

Raza is sad that no one from BJP contacted him after the violence even though he has been serving the party and promoting its ideology for past five years. “No party leader contacted me. There was no phone call. There was no relief or special treatment or anything,” Raza said.

Interestingly, Raza is still indentifies himself as a BJP leader. “I belonged to BJP. I may continue in the party,” he said.

The locality remained tense on Sunday too. On Monday, several groups distributed relief materials among people who had queued up to collect them. In front of Raza’s house is a lane from which several bodies of innocent Muslims have been recovered.