Mother dies during caesarean; Kin's Facebook post against doctor goes viral

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."

Bengaluru, May 25: With the reporting of 93 more fresh cases of COVID-19, the total number of pandemic cases were surged to 2182 in Karnataka on Monday.

According to official sources, highest number of new cases of COVID-19 pandemic, were reported from Udupi (32), Kalaburagi (16), Yadagiri (15), Bengaluru Urban (08), Dakshina Kannada (04) in the last 24-hours in the state.

The fresh cases were also reported form Mandya, Belagavi, Ramanagara, Vijayapura, Kolara, Ballari and Dharwada district.

Mandya, Apr 25: An FIR was registered against JD(S) MLC KT Srikante Gowda, his son, and three others for protesting against coronavirus testing of journalists in Karnataka's Mandya city on Saturday.

According to the police, JD(S) MLC KT Srikante Gowda, his son Krishik Gowda, Chandrakala Aythu, Jagadish, and Raju have been named as accused in the FIR filed at Mandya West police station.

The FIR has been registered under several sections of the Indian Penal Code (IPC) and Disaster Management Act including unlawful assembly, rioting, wrongful restraint, voluntarily causing hurt, negligent act likely to spread infection of a deadly disease, etc.

Gowda, along with a group of locals, had created a ruckus objecting to the coronavirus testing of journalists at Ambedkar Bhawan in Mandya here earlier today.

Police said that a journalists' association had filed a written complaint seeking the registration of an FIR in the matter.

As per an order by the state health department, medical professionals were conducting health tests of journalists at Ambedkar Bhawan in Mandya when Gowda along with some locals started protesting, officials said.

Further actions are being taken, police said.