People in this Karnataka city boycott health survey mistaking it for NRC

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, Feb 20: Leaving the organisers of an event to protest against the CAA, NRC and NRP here red-faced, a young woman on Thursday reportedly raised "Pakistan Zindabad" slogan in the presence of AIMIM chief Asaduddin Owaisi, who denounced her action and asserted "we are for India".

The woman, identified as Amulya, allegedly asked people to shout with her "Pakistan Zindabad" after the organisers of the event under the banner of "Save Constitution" invited her to address the gathering soon after Owaisi came on the stage.

Soon Owaisi rushed to snatch the mike from her hands and was joined by others who tried to remove her from the state.

But the woman was adamant and raised the slogan again repeatedly. Later, the police stepped in and removed her from the dais.

Owaisi then addressed the gathering, saying he did not agree with the woman.

"Neither me nor my party has any link with her. We denounce her. The organisers should not have invited her here. If I knew this, I would not have come here. We are for India and we no way support our enemy nation Pakistan. Our entire drive is to save India," the AIMIM MP said.

JD(S) corporator Imran Pasha claimed she was planted by some rival group to disrupt the event.

The woman, he said, was not in the list of speakers and demanded that the police investigate the matter seriously.

Sources say Amulya hails from Chikkamagaluru and her parents have always been in the forefront of taking on government and its policies for well over a decade. 

As per local TV reports, the student was taken to Upparpet police station, but later shifted to an undisclosed destination for more questioning.

Mangaluru, Mar 22: A video being circulated in the social media purportedly of a man infected with COVID-19 at a hospital here is fake, its authorities said.

The video which shows a youth, dressed in pink trousers and wearing a mask, struggling to breathe on a blue hospital bed, had gone viral after which the Wenlock hospital issued a clarification.

The video started circulating after Dakshina Kannada Deputy Commissioner made public Sunday that a person has tested positive for coronavirus at the hospital.

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"A video of a patient convulsing on a hospital bed is being circulated on social media. This video is not of Wenlock hospital. Besides, we do not use blue beds," the hospital said in a statement, adding that they will file a complaint with the police regarding the video.

The first COVID-19 case in the district was confirmed at the hospital on Sunday.

The 22-year old man who came here from Dubai was tested positive and is under treatment in the isolation ward.