Play on Mother Teresa staged

Bengaluru, May 11: Karnataka Medical Education Minister Dr K Sudhakar today held a video conference with Kerala Health Minister KK Shailaja to discuss measures to tackle COVID-19.

The ministers discussed in detail the protocols for testing, quarantine and treatment for COVID-19 that are being followed by both the states.

The Karnataka Health Department on Monday said that 10 new cases of COVID-19 have been reported in the state, taking the total number of positive cases to 858.

"31 people have lost their lives due to coronavirus in the state and 422 persons have been discharged after recovery," the Health Department added.

Kerala, on the other hand, has tackled the coronavirus crisis better than most other states of the country. There are only 19 active cases of COVID-19 in the state while 489 people have recovered. The death toll in the state is 4, according to the data published by the Union Ministry of Health and Family Welfare on Monday.

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.

Bengaluru, May 15 Reformed underworld don N Muthappa Rai died battling cancer at a private hospital here on Friday, hospital sources said.

Rai, 68, was suffering from brain cancer for the past one year and was admitted at Manipal Hospital on Old Airport Road, where he died at 2.30 am, the sources said. Rai is survived by two sons.

Born into a Tulu-speaking Bunt family in Dakshina Kannada''s Puttur town, Rai entered the crime world at a very young age.

Karnataka police issued arrest warrants against Rai in eight cases, including murder and conspiracy.

In 2002, Rai was deported to India from the United Arab Emirates. On arrival, he was questioned by various investigation agencies such as the Central Bureau of Investigation (CBI), Research and Analysis Wing (RAW) and Intelligence Bureau (IB), and by the Karnataka police. He was later acquitted due to the lack of evidences.

In his reformed years, Rai founded charitable organisation ''Jaya Karnataka''.

Rai has appeared in Tulu film ''Kanchilda Baale'' in 2011 and Kannada film ''Katari Veera Surasundarangi'' in 2012.

Bollywood director Ram Gopal Varma wanted to make a movie based on Rai''s life. The film roped in actor Vivek Oberoi for the lead role and was shot in Bengaluru, Mangaluru, Mumbai, Dubai and London. However, it has not been released due to production delays.

Rai was enthusiastic about the film and even celebrated his birthday with Varma and Oberoi.

After his cancer diagnosis, Rai withdrew from public life and resigned from Jaya Karnataka.

His last rites are likely to be performed at Bidadi on Friday, family sources said.