Thousands of temples to be re-opened in J-K: MoS Reddy

Bengaluru, Mar 27: The Indian Air Force (IAF) on Wednesday said it has created nine quarantine facilities of 200-300 personnel capacity each at its nodal bases across the country to combat the outbreak of novel coronavirus.
"To monitor the prevailing situation and provide immediate response and assistance as required, a 24x7 crisis management cell has been set up at the IAF Headquarters and various Command Headquarters," stated an IAF press release.
IAF aircraft are continuing to fly in medical supplies and doctors to Leh and fly out blood samples for COVID-19 testing to Chandigarh and Delhi, the release noted.
"Command Hospital Air Force Bangalore (CHAFB) has been designated as the first laboratory in the IAF to undertake COVID-19 testing, which will greatly enhance the region's ability to carry out quick testing of suspected cases and allow prompt and timely intervention where required," it mentioned.
All measures and directives issued by the government towards containing the spread of COVID-19 have been strictly enforced across all IAF stations, the release stated.
"The Indian Air Force continues to take measures to provide all possible assistance to civil administration across the country in containing the spread of COVID-19. The IAF has created nine quarantine facilities of 200-300 personnel capacity each at nodal IAF bases across the country," the release noted.

Mangaluru, Jun 14: In a fresh case of vigilante attack, a cattle trader was tied to a buffalo-laden vehicle and thrashed by the miscreants belonging to Bajrang Dal in the city today. 

The victim has been identified as Mohammad Haneef Guddemane (34), a resident of Jokatte village on the outskirts of the city. 

The attack took place in the early morning near Infosys office at Urva, when Haneef was transporting his four buffalos to Kudroli slaughter house. 

The miscreants continued to thrash him until the local police reached spot. Based on the complaint of ‘illegal cattle transportation’ by the Bajrang Dal, the police took the victim to custody and also seized the buffalos. 

The police also took the victim to hospital and subjected him to covid test before producing him before a local judge.

While the Bajrang Dal members lodged complaint of illegal transpiration against the victim, the victim showed all the records of the cattle and lodged a counter complaint against the attackers.

It is learnt that Haneef had purchased 10 cattle from Haveri district and sold six among them. He was transporting remaining four buffalos to Kudroli slaughter house.

Feb 19: Bavaguthu Raghuram Shetty was once a typical billionaire with a taste for the high-life.

He splurged on a private jet, vintage cars and two entire floors of the Burj Khalifa, the world’s tallest skyscraper. His website shows him hobnobbing with politicians, Bill Gates and Bollywood royalty.

“The thrill of speed and freedom makes me love cars,” Shetty, 77, told local reporters last year.

Shetty had more than enough money -- at least on paper -- to afford such a lifestyle from companies he helped found, including hospital operator NMC Health Plc and financial services firm Finablr Plc. On Dec. 10, his stakes in the public companies were valued at $2.4 billion, making up the bulk of a fortune spanning education, hospitality and one of the world’s oldest tea companies.

Then, a week later, Carson Block came along.

Block’s investment firm, Muddy Waters, issued a report criticizing NMC’s accounts and disclosing a short position. Since then, Muddy Waters’s scrutiny has snowballed into a troubling scenario for Shetty that sheds light on his complex share arrangements and casts doubts about his net worth. His holdings in Finablr and NMC are worth $885 million, but Shetty’s fortune may now be just a fraction of that, depending on the size of his borrowings.

Filings this month show that Shetty pledged a quarter of his NMC stake against loans with First Abu Dhabi Bank and Zurich-based Falcon Private Bank. Two other shareholders may own half of his reported stake. Another lender -- Al Salam Bank Bahrain -- has already sold some of those shares to enforce security over a loan for Shetty, and NMC said Tuesday that First Abu Dhabi Bank sold another chunk earlier this month.

The situation “seems to have gone beyond some of the issues that Muddy Waters focused on initially,“ said Gavin Launder, a fund manager at Legal & General Investment Management, who owned shares in NMC until October. “The increased scrutiny has unearthed other issues.”

Law firm Herbert Smith Freehills has launched a review of Shetty’s holdings at his request, a spokesperson for the Indian-born businessman said, declining to comment further until the analysis is completed. Shetty resigned Sunday as NMC’s chairman.

In its Dec. 17 report on NMC, Muddy Waters hinted at potential overpayment for assets, inflated cash balances and understated debt. Shares of the United Arab Emirates’ biggest private health-care provider have since plunged 67%, and the firm is now the focus of takeover speculation. The sell-off also spread to Finablr, whose stock has tumbled 64% in that span.

NMC has disputed Muddy Waters’s claims, and the company hired former FBI Director Louis Freeh to conduct an independent review of the short seller’s allegations. Meanwhile, local regulators “are making inquiries with the relevant parties,” a spokesperson for the U.K.’s Financial Conduct Authority said.

Shetty is hardly the only ultra-wealthy person to leverage his assets. Elon Musk has used his shares in Tesla Inc. to obtain personal loans, while Oracle Corp. Chairman Larry Ellison has put up millions of the company’s shares to fund a lavish lifestyle that includes trophy properties, America’s Cup teams and the Indian Wells tennis facility in California.

But such deals can also sour, as demonstrated by Shetty’s lenders selling shares his investment firm pledged. He and his advisers are investigating details of the sales as part of their legal review, according to filings.

To complicate matters, Shetty pledged another batch of NMC stock in 2018 as part of a so-called equity collar arrangement with Goldman Sachs Group Inc. that uses options to limit the impact from share moves. Last month, he also pledged most of his stake in Finablr to refinance a loan from the company’s takeover of foreign-exchange firm Travelex for about $1.2 billion.

BRS Ventures Investment, the UAE-based holding company for most of Shetty’s assets, doesn’t report consolidated financials, preventing a complete analysis of his net worth. His other assets include a catering company, a waste-management firm and pharmaceutical business Neopharma, which four months ago was in the early stages of planning for an initial public offering.

Block, 43, earned his reputation as a short seller a decade ago through targeting U.S.-listed Chinese companies that he claimed were frauds. More recently, his San Francisco-based firm focused on British litigation-finance firm Burford Capital Ltd. and Japanese biotech stock PeptiDream Inc. Short sellers seek to benefit from a decline in a company’s share price.

Shetty founded NMC in 1975 after moving to Abu Dhabi from his native India. He created Finablr two years ago to consolidate his financial brands before listing it on the London Stock Exchange in 2019.

Block said he didn’t anticipate NMC’s shareholding drama.

“I wouldn’t have been able to predict that we’d get these bizarre disclosures about unclear share ownership coming out of the company,” he said in a Feb. 13 phone interview. “This has been obviously a more dramatic unraveling than we usually see.”