Mangaluru, Feb 26: Customs officials at Mangalore International Airport on Wednesday arrested a man for trying to smuggle gold worth over Rs 26 lakh by concealing it in his rectum.
The accused has been identified as Moideen Arzan, a resident of Uppala, Kasaragod.
According to police, he arrived from Dubai by an Air India flight and was attempting to smuggle the gold which he had converted in the form of paste and concealed in rubber capsules inside his rectum.
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.
BRS could not fool all the people all the time!
Illegal way of earning will not last for long.
Bengaluru, Mar 31: Ten persons who were under home quarantine in Bengaluru and had escaped to their native places, were arrested on Monday.
A case has been registered against them at Gurmitkal Police Station, said BH Anil Kumar, Bruhat Bengaluru Mahanagar Palike (BBMP) Commissioner.
Seven new COVID-19 cases were confirmed in Karnataka between Saturday 5 pm and Sunday 2 pm.
The total number of positive cases in the state stands at 83, out of which five have been cured and three have lost their lives, according to the Karnataka Health Department.
Mangaluru, June 22: A chartered flight from Dammam with more than 170 stranded Saudi Kannadiga passengers landed at Mangaluru International Airport at 8.53 pm.
The flight was chartered by Saudi Kannadigas Humanity Forum (SKHF), an unregistered NGO, which was formed recently to help the Kannadigas stranded in Saudi Arabia due to covid-19 lockdown under the leadership of Zakariya Jokatte, president of Jubail unit of Bearys Chamber of Commerce and Industry and KS Sheikh Karnire, Director of Expertise Contracting Co. Ltd, Saudi Arabia.
There were 165 adults and 8 infants on board the IndiGo flight. All the passengers were screened at the airport. They will be dispatched to quarantine centres after completing formalities.
SKHF had launched an online portal to assist those who were in need of emergency repatriation such as elderly people, those who lost their jobs, pregnant women and those who are in need of emergency medical treatment back home in India.
SKHF coordinated with the authorities concerned to carry out all the formalities and legal procedures in Saudi Arabia. SKHF members were present at the Dammam Airport to help the passengers during the departure.
Mr Jokatte and Mr Sheikh have thanked U T Khader, Mangaluru MLA and Dr Arathi Krishna, former deputy chairperson of NRI forum of government of Karnataka, for their help in chartering the flight.
Comments
"Get rich quick and by any means syndrome"
Those Economy Saboteurs/ Smugglers are very Desperate People whose means of livelihood depends Solely on their Criminal Activities.
WHAT is driving these people so crazily into CRIMINALITY?!
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