Petrol cheaper by 86 paise for Mangaloreans

Mangaluru, Apr 15: A 27-year-old man, who died of breathing problem at Banglagudda in Surathkal, has tested negative for COVID-19.

The entire area was panic-stricken following his death on Tuesday evening. Suspecting COVID-19, his throat swab samples were collected, said Mangaluru North MLA Dr Y Bharath Shetty. Now the test has proved he was negative for coronavirus.

The youth had collapsed suddenly on Tuesday evening and was rushed to a hospital where the doctors declared him brought dead.

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, Jul 2: Former Karnataka Chief Minister HD Kumaraswamy on Thursday accused BS Yediyurappa-led state government of "failure" to protect the citizens from coronavirus, stating that Karnataka was suffering due to lack of co-ordination in the cabinet.

In a series of tweets, the JD(S) leader slammed the state government for wasting their time in giving out contradictory statements regarding COVID-19 figures instead of learning lessons from the Kerala government.

"It is shocking to see COVID-19 patients being turned down by the hospitals due to lack of beds. The government has failed in its duty to protect the citizens. The CM and his cabinet colleagues wasted precious time in mere talking for the last three months. As the escalated Covid numbers stare them in the face, they are now helpless," Kumaraswamy wrote.

"Even when you have a proven model in Kerala government's success in Covid management, the ministers waste time in issuing contradictory statements and doing nothing. Karnataka suffers due to lack of co-ordination in the cabinet," he said.

Urging the government to act together, he said that if the government does not get its act together, the day is not far when Covid patients would be "condemned to die on the streets."

We are already seeing heart-wrenching stories of patients denied treatment," he added.

Kumaraswamy also appealed to the Karnataka government to consider the suggestions he had made earlier and not to indulge in party politics in these testing times.

"I appeal to the government to consider the suggestions I made earlier and act accordingly. This is not the time for party politics."