'NMC board, management should be held accountable'

KT
April 12, 2020

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.

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coastaldigest.com news network
July 23,2020

Udupi, July 23: A 70-year-old woman, who had tested positive for coronavirus, passed away last night in Udupi taking the district’s covid-19 death toll to 12.

The deceased was a resident of Chantharu in Brahmavar. She was an asthma patient. For past few days, she was suffering from cold and fever. 

Her throat swabs were sent for testing and the report came positive last evening. She breathed her last at home even before being shifted to hospital. 

The woman has two daughters and both of them are married. Due to the fear of virus, none of her relatives were ready to touch her body.

Meanwhile, Dr Premananda K of district health department reportedly sought help of the activists of Popular Front of India (PFI). 

Under the supervision of PFI’s medical wing in-charge Muneer Kalmadi, the body was shifted to the district hospital with all necessary precautionary measures.

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News Network
August 3,2020

Bengaluru, Aug 3: A building of Bengaluru's civic body, Bruhat Bengaluru Mahanagara Palike (BBMP), on Broadway Road in Shivajinagar, is being developed into a COVID dedicated hospital with 200 beds, Karnataka Medical Education Minister K Sudhakar said on Sunday.

The hospital will be functional in two weeks, said Sudhakar.

"BBMP building in Broadway Road is converted into Covid hospital. Setting up of infrastructure like beds, ventilators, oxygen etc is underway.

All necessary staff for this hospital including doctors, nurses and paramedical staff have been already deployed and the work is on fast track," Sudhakar tweeted.

He also thanked Infosys foundation and it's Chairperson Sudha Murthy for immediately responding to government's request and providing infrastructure for this hospital.

In a tweet, Sudhakar thanked the doctors for their service to combat COVID-19 in the state.
"These doctors have extended helping hand in these corona times without any expectations. I salute their spirit of service and professionalism," Minister said in a tweet.

According to the Union Health Ministry, there are 1,34,819 COVID-19 cases in the state. 

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Media Release
April 7,2020

Mangaluru, Apr 7:  In the wake of COVID-19 lockdown in the country, a delegation from Highland Islamic Forum, Mangalore headed by Rizwan Pandeshwar, HIF Ration Kit Co-coordinator met Mangalore South Constituency MLA Mr. Vedavysa Kamath, Mayor Mr. Diwakar and MCC  Opposition Leader Mr. Abdul Ravoof on 6th April with an aim to join their hands with our local authorities in a bid to serve the daily wage earning families in and around Mangalore, during this emergency period. HIF delegation included Secretary Ausaf Hussain, Executive members Nazim SS, Adel Parvez, Nabeel Kudroli and Saleem Makkah.

HIF delegates handed over 300 COVID-19 Emergency relief ration kits to these local authorities, of which 100 each will be distributed to the poor in their respective areas among all faiths irrespective of caste or religion. The ration kits included grocery items and other essential commodities.

HIF Delegation said that Highland Islamic Forum is a prestigious charitable organization in Mangalore operating in the undevided D.K. District since last 8 years offering their hands to the poor and needy families of all faiths like food for the orphans, blood to the patients, water during the crisis time, relief supplies during floods, medicine to the patients, ration kits and homes to the homeless.

During the drinking water crisis in 2016, HIF supplied water facilities to more than 1000 families in Mangalore.  Two years back during the flood, HIF provided necessary commodities to the flood victims in Dakshina Kannada District. During the shortage of blood in Mangalore hospitals, HIF arranges blood donors camps and provide the blood to the patients.  HIF spends one day with orphans every month. HIF charitable activities have been well recognized by the kind hearted people in Dakshina Kannada District.

MLA Vedavysa Kamath, Mayor Diwakar and Mangalore City Corporation opposition leader Abdul Ravoof lauded the selfless efforts of HIF team in serving the poor and needy families in the society.

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