Siddu writes to Sonia, Rahul defending his move to form separate ACB

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."

Mangaluru, Jul 2: Mangaluru BJP Corporator Manohar Shetty, who entered a manhole to clean a drain, said that he did it to avoid waterlogging ahead of monsoon as people were facing several problems for the past few years.

"In my ward, there is a rainwater drain at Kadri Kambla junction and for the past few years, there was a waterlogging problem due to trash water used to collect and vehicles used to find it difficult to pass in that area," Shetty said.

"Since there was a lot of trash it had to be cleared to avoid waterlogging. We changed our dresses, and then I along with my three party workers entered manhole and cleared the trash," he said.

The Mangaluru BJP Corporator further said that it was not a publicity stunt, and he cleaned the drain to solve the problem of people. "During elections, I had promised people to get the drain cleaned. Since monsoon was coming; something had to be done; we did not do it for publicity but to solve a problem," he said.

Bengaluru, Apr 9: A special task force--set up by the government of Karnataka--submitted a report to the Chief Minister of Karnataka BS Yediyurappa, putting forward recommendations suggesting minimisation of restrictions in districts where there is nil or minimum cases, here on Wednesday.

The committee said: "COVID-19 and non-COVID-19 patients should be segregated and online health services should be encouraged. Restrictions should be minimised in districts where there is nil or minimum cases of COVID-19 and lockdown should be continued in hotspot areas with quarantine measures strictly being implemented."

With regards to the testing of likely patient, the committee informed that rapid test kits would help to quarantine more likely patient. "The rapid test kits will arrive in April 12. These kits will boost our facility and would help us in quarantining the more people."

On the subject of lifting transportation ban, the committee suggested that the transport of goods and services must continue but with regards to passenger carriers, they are suspended till April 30.

"Goods and Transportation should be allowed, but passenger carriers should be banned until further orders. No buses, trains nor flights will be plying till April 30. No metro trains and auto-rickshaws should be allowed and an odd-even system transport system should be implemented," the committee added.

The committee also suggested that all industries, IT, BT and Garments should be made to work on 50 per cent strength. Garments workers should be allowed to stitch PPEs, which are in more demand. And for construction workers, the committee suggested that they should be allowed to work at sites at 50 per cent strength.

They suggested that educational institutions remain closed till May 30 and online classes must be encouraged.

Dr. Devi Shetty heads the Taskforce and Dr. C. N. Majunath, Dr. Nagaraj, Dr. Ravi and Sudharshan were also the part of the committee.

According to the Ministry of health and family welfare, 181 cases have been reported in the state so far. A total of 5,734 positive cases have been reported of which, 166 are dead and 473 are cured/discharged and migrated.