Unidentified men hurl acid like chemical on AAP leader Soni Sori

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."

May 28: The Karnataka State Election Commission on Thursday announced postponement of gram panchayat polls citing the COVID-19 pandemic.

Out of 6,025 gram panchayats, the tenure of 5,800 gram panchayats will end by June-August 2020.

"After examining the feasibility of conducting general elections to gram panchayats, the State Election Commission, considering the current situation as exceptional circumstance, has decided to temporarily postpone the general elections to the gram panchayats," the SEC said in a release.

It said after examining the situation in the days to come, the decision will be taken on holding the general elections to the gram panchayats.

The CEC also states that report by Deputy Commissioners of districts on holding the elections was verified and it has been found that district administrations are involved in COVID-19 related work and there will be shortage of staff and transport facilities for the elections. Besides, there would be a problem in maintaining law and order.

Last week through a letter to Deputy Commissioners of districts, the commission had sought opinion on holding panchayat polls amid the COVID-19 crisis. It had also pointed out that electoral roll needs to be prepared and reservations had to be allocated as per the new amendments.

Stating that the state election commission's decision to postpone gram panchayat elections was against the provisions of the Karnataka Panchayat Raj Act 1993, the Leader of Opposition Siddaramaiah said the Congress will question this "undemocratic act" in the court of law.

He accused the commission of playing to the BJP's tune and said the congress will protest the decision at gram panchayat level.

Opposition parties in the state, especially congress, have been demanding elections.

The government was in favour of postponement of polls and wants to have administrative committees to govern the panchayats, until the polls are held, according to government sources.

The Congress, raising apprehension about administrative committees, has accused the government of conspiring to have ruling BJP workers as its members.

A congress delegation had last week submitted a petition to State Election Commissioner B Basavaraju and urged the Commission to hold elections.

The congress had even suggested continuation of sitting panchayat members until the polls are held, instead of appointing administrative committees.

Bengaluru, Apr 16: Karnataka Deputy Chief Minister Dr Ashwath Narayan today said that if former chief minister HD Kumaraswamy, being a law-abiding citizen, does not follow guidelines then action will be taken against him.

The Deputy CM made this comment when he was asked about Kumaraswamy's son Nikhil's marriage, which has been fixed on April 17 at a farmhouse near Bidadi in Ramnagar.

Narayan said: "Any violation of the guidelines will not be tolerated. We will ask the concerned authority to film the entire event and document it."

He said that so far Kumaraswamy has made public statements that guidelines will be followed.

"HD Kumaraswamy is a people's representative. He has been in public life for a long time. He should abide by the guidelines," Narayan said.

"Since he has been in a responsible position for a long time and he was the Chief Minister, guidelines must be followed in his son's marriage as per the rules amid COVID-19 scare.

After the marriage, there must not be any excuses. He cannot say that people came without an invitation," the Deputy Chief Minister added.

Kumaraswamy clarified that only his family members will attend the marriage and that there will be around 60 to 70 people.

"All guidelines will be followed as per the central government directives," he said.