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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, Apr 23: Nine new COVID-19 positive cases have been reported in Karnataka in the last 24 hours.

Out of these nine coronavirus positive cases, five have been reported from Kalaburagi and two each from Mysuru and Bengaluru.

According to the government of Karnataka, the total number of positive cases in the State now stands at 427 including 131 cured or discharged cases and 17 deaths.

The total number of positive coronavirus cases across the country are 19,984, including 15,474 active cases of the virus. So far, 3,869 patients have either been cured or discharged while 640 deaths have been recorded in the country, as per data provided by the Union Ministry of Health and Family Welfare.

Belagavi, Mar 16: Despite issuing an order banning large gathering, including lavish weddings, Karnataka Chief Minister B.S. Yediyurappa attended the grand marriage celebrations of the daughter of BJP MLC Mahantesh Kavatagimath in Belagavi on Sunday.

The Chief Minister had advised people to postpone weddings till the COVID-19 scare passed off, or to restrict the number of guests to around 100. But the wedding on the lawns of Shagun gardens in the Udyambag industrial area in Belagavi had many more times the number of visitors.

A police officer on duty at the venue estimated the crowd to be over 3,000.

The large gathering was in clear defiance of the government order and the Chief Minister’s appeal. But Mr. Yediyurappa’s presence seems to have vindicated this act.

Hundreds of cars were parked on both sides of the Khanapur road, outside the venue which was decorated with flowers, buntings, rolls of paper and colourful cloth. Two huge banners about preventing the spread of COVID-19 have been put up at the venue. There are wash basins at two ends and several hand sanitiser counters across the ground.

Apart from Union Minister of State for Railways Suresh Angadi, and ministers Srimanth Patil and MLA Mahesh Kumthalli, there were several leaders from the BJP, the Congress and the JD(S) who attended the marriage. There were some officers from the city corporation and district administration among the guests.

The Chief Minister arrived around 11 a.m. and stayed for nearly an hour at the venue. He left after wishing the couple and greeting some leaders.

On his arrival, at the Sambra airport, Mr. Yediyurappa said the State was well-equipped to handle the spread of the infection. “Over one lakh have been tested. Among the 100 suspected cases, the virus was detected only in six persons. One person has died. But otherwise the situation is under control. Officers are working round the clock,’’ he said.