Mangaluru: Kanachur Islamic Education Trust launches paramedical courses

Abu Dhabi, Feb 17: NMC Health Plc, a hospital operator targeted by short-seller Muddy Waters, said founder Bavaguthu Raghuram Shetty resigned amid investor concern he faced a margin call and misrepresented his stake.

The board asked for Co-Chairman Shetty’s resignation and it takes effect immediately, according to a person with knowledge of the situation. NMC has lost four board members since Friday, including Vice Chairman Khaleefa Butti, whose holdings are also being probed. The stock, the worst performer on the FTSE-100 Index this year, fell as much as 9.2 percent Monday morning and then rebounded.

“The resignation of senior board members should be viewed positively,” said Abdulla Nahlawi, an analyst at Rasmala Investment Bank in Dubai. “The credibility of the current board has been jeopardized with the unfolding of the recent events.”

NMC shares lost almost half their value the first week of February on speculation the company’s main investors faced a margin call, in which banks seize shares pledged as collateral. NMC said Friday that First Abu Dhabi Bank and Al Salam Bank Bahrain obtained 20 million shares in the company from BRS International Holding, an investment vehicle of NMC’s top shareholders. The banks sold more than 8 million of those shares as “enforcement of security,” NMC said.

NMC operates the largest medical network in the United Arab Emirates and in 2012 became the first Abu Dhabi company to list in London. The shares started teetering in mid-December when Muddy Waters alleged that NMC manipulated its balance sheet and inflated the prices of companies it acquired.

Shetty, 77, was born in India and founded NMC in the 1970s after moving to Abu Dhabi. His spokesman said a legal review of the situation is ongoing and declined further comment.

Chief Investment Officer Hani Buttikhi and board member Abdulrahman Basaddiq also stepped down because they were appointees of Shetty and Butti, NMC said, adding that they had no knowledge of the share transfers.

Questions remain over the role of Shetty’s family at the company. His wife and son-in-law both hold roles in senior management.

Almost 10 per cent of NMC’s freely traded shares are shorted, according to Markit Securities data. In mid-December about a third of them were.

Last week GKSD Investment, an investment company backed by hospital investors, said it’s studying a possible offer for NMC. Under U.K. takeover rules, it has until March 9 to make a bid.

NMC has said Muddy Waters’s claims are false and the company hired former FBI Director Louis Freeh to conduct an independent review. The review is due to be completed before the company issues its financial results in March, the person said.

NMC said Mark Tompkins will continue as the company’s sole chairman.

Mangaluru/Udupi, May 20: Islamic scholars belonging to different schools of thoughts including two prominent Qadis have issued special guidelines asking all Muslims in the region to offer prayers and celebrate Eid al-Fitr at home this year in keeping with the extended covid-19 lockdown.

Eid al-Fitr which marks the end of the month-long dawn-to-sunset fasting of Ramadan is rather a ‘humanitarian event’ than a fiesta. This year Eid is likely to be observed in coastal Karnataka on May 23 or May 24 depending on sighting of the new moon.  

Amid the Covid-19 pandemic, the Muslims are preparing for — and reconciling itself to — a most unusual Eid bereft of all the usual trappings like huge prayer congregations, ceaseless shopping, social visits and the inviting warmth of an Eid Mubarak embrace.

In their separate messages, Udupi Qadi Bekal Ibrahim Musliyar and Mangaluru Qadi Twaqa Ahmed Musliyar have urged Muslims to refrain from all kinds of public gatherings during Eid. Noting that Muslims in the region have followed all the advisories in issued by the government to contain the spread of coronavirus in the blessed month of Ramadan, they have urged them to follow the guidelines during Eid too.

On social media groups, messages like “no new clothes, just wear your best clothes” are being circulated among family and friends, urging people to fill the festive void with the spirit of giving. The suggestions range from paying a needy child’s school fee or someone’s rent to helping a lockdown-hit trader revive his business.

Following guidelines are issued by the top clerics ahead Eid

1) There will be no Eid prayer in mosques or Eid-gahs. Hence, Muslims should offer Eid al-Fitr prayer in their homes with family members.

2) Distributing Zakat al-Fitr among needy is mandatory. However necessary safety measures should be taken while going out such as wearing masks and maintaining physical distance. As there is lockdown from 7 p.m. to 7 a.m. every day, Zakat al-Fitr can be distributed a day before Eid or on the day of Eid before evening. 

3) Women, children and elderly people should not step out of the houses.

4) Avoid visiting graveyards or other places.

5) All mosques are closed due to lockdown. Hence, observe Eid in a simple way and set an example for the society. 

6) Strictly follow all the guidelines issued by the state and central governments

Chennai, Jul 25: Two weeks after a 62-year-old widow accused him of harassment, including urinating outside her house, the Chennai Police on Saturday registered an FIR against ABVP national president Dr Subbiah Shanmugam.

Dr Shanmugam, Professor and HOD, Department of Surgical Oncology, Kilpauk Medical College and Government Royapettah Hospital, has been booked under sections 271 (disobedience to quarantine rule) and 427 (mischief causing damage) under the Indian Penal Code (IPC) and Tamil Nadu Women Harassment Prevention Act.

The FIR was lodged exactly two weeks after the woman’s relative Balaji Vijayaraghavan filed a complaint with the Adambakkam police accusing Dr Shanmugam of harassing his aunt, who is living alone in her apartment following her husband’s death last year, following an argument over a parking slot. 

The action came after Vijayaraghavan alleged that the police were not filing an FIR due to the ABVP functionary’s “political connections.”

Dr Shanmugam and the woman were living in the same apartment complex in Nanganallur and an argument broke between them over a parking slot.

“He wanted to use our parking lot. We agreed but demanded a nominal charge for using it. He was outraged by our demand and even broke our signboard at the parking lot,” Vijayaraghavan wrote in his complaint.

He also alleged that Dr Shanmugam began harassing her by throwing “pieces of chicken” outside her apartment despite knowing she is a vegetarian.

CCTV footage corroborates with the allegations of urinating outside the residence of the widow. However, the ABVP called the incident as a “malicious and derogatory propaganda” by the Congress’ student wing of NSUI.

"The video shared by NSUI with an allegation of harassment is tampered with and is being used with malafide intentions. The two families have discussed this within their housing society and have already concluded that the harassment allegations were caused due to misunderstandings and are untrue,” ABVP National General secretary Nidhi Tripathi said.

Vijayaraghavan also alleged in his two-page written complaint that the ABVP national president had urinated outside the woman’s apartment gate and had been throwing garbage and used masks at her gate.

In his complaint, Vijayaraghavan also said the family was “concerned about her safety” while asking police to take action against Dr Shanmugam, who he says, “has a bad track record in maintaining rapport with neighbours.”

Also Read: ABVP national president accused of harassing woman, urinating at her doorstep