Saudi bizman Bhaskar Shetty murdered by wife, son in Udupi with priest's help

Bengaluru, May 29: The hotel industry is one of the worst-hit industries due to lockdown, along with the tourism industry. Bengaluru's hotel industry has incurred a loss of around Rs 1200 crore during the lockdown period however, the hotels here are likely to open in June if the State government issues guidelines for the resumption of their services.

Speaking to media, PC Rao, President, Bangalore Hotelier's Association said, "It's not only the loss of business, but we have lost the customer base as well. 
We don't expect any good future for the next six months. There will be a slow down in the business even after opening."

"We have requested our CM to give first preference to the hotels. We are going to restart our business in June if granted permission. Around 10 per cent of the hotels cannot open at all. They are in the stage of merging or closing down position. Few hotels may open after five or six months," he added.

He continued saying that many hotels are for sale but there are no buyers. There are around 21,000 restaurants in Bangalore, 3500 hotels with rooms and restaurant which has an average turnover of Rs 20 crores per day, Rao informed.

"We expect losses of around Rs 1200 crores in these two months. We are giving special online training to all the hoteliers and to our managers particularly to deal with the COVID-19 situation, including how to deal with the guests, employees, how to start the hotel services. 

Each and every manager has already been trained and we are still continuing it. We will conduct face to face meeting as well and brief the managers," said Rao.

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, Mar 13: Several ministers staying at the Bengaluru resort had been emotionally pressurised to leave the Congress party, said Congress leader Jitu Patwari on Thursday after he was rescued by party leader DK Shivakumar from getting arrested due to the scuffle that had broken out at Embassy Boulevard here.

"We had received information that one of the MLAs, Manoj Chaudhary, staying at the Boulevard wanted his father to bring him back home," Patwari told reporters.

He said, "We had accompanied Manoj's father to the resort but the moment we entered the restaurant at the resort, some miscreants took away Manoj to some other unknown place," Patwari told reporters.

"Meanwhile, we (Lakhan Singh and Jitu Patwari) were manhandled and taken to the police station," he added.

Patwari said that the police had started the process of arresting them but Shivakumar came to their rescue and stopped their arrest.

He further said, "The police manhandled us even though we tried to talk to them in a very calm manner."

"If the MLAs giving resignation was their decision then why is the BJP not allowing them to contact their families," the MP said.

He further said that Jyotiraditya Scindia would soon become a minister but "why are the other ministers being made scapegoats."

Earlier in the day, a Congress leader in Madhya Pradesh had said that if action on the assaulters of its two leaders is not taken then the matter will be taken to the court.