Son dead, but they' show no sympathy for CM Siddaramaiah

Mangaluru, Jan 24: The Srushti Kala Vidyalaya will be conferring it's 'Srushti Kalabhushan Award' to ace Yakshagana Bhagvatha Patla Sathish Shetty.

The award ceremony will be held at RV Dental College and Hospital in JP Nagar, Bengaluru on February 2, as part of the decennial celebrations of the Vidyalaya.

Chayapathi Kanchibail, founder of the Vidyalaya, said, "The award is being given to Shetty for his services to promote the art of Yakshagana and for his welfare work through the Yakshadhruva Patla Foundation."

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 4: A 33-year old woman techie allegedly stabbed her mother to death and made a murderous assault on her younger brother before fleeing their home here, police said on Tuesday.

According to police, the woman fatally stabbed her mother using a knife and attacked the brother early on Monday.

The injured brother has been hospitalised here.

A search was on for the techie and the motive for her action under investigation, police said.

The woman, employed as a software engineer with a company here, earlier had told her mother and 30-year old brother that she has been transferred to Hyderabad and she may have to relocate.

The brother told police that in the early morning on Monday he saw his sister searching something desperately and offered to assist, which she refused.

However, minutes later she made a murderous assault on him, he told police, adding when he screamed for help and called his mother, his sister said she has killed their mother.

She stabbed him and attacked with an iron rod before fleeing, her brother told police.

The body of the mother was found in another room in the house.

"We are still investigating the matter. We are not clear about the motive behind the murder," a police officer told media adding the woman was yet to be arrested.