Uprooted tree blocks NH 73 between Mangaluru and Chikamagaluru

Newsroom, Apr 30: Beleaguered billionaire B R Shetty, who went into hiding after after a multi-billion fraud at UAE-based NMC Health came to light, has now put the blame on his companies employees.

The former chairman of the Abu Dhabi headquartered hospital operator said, investigations he commissioned found following things:

1. The fraudulent creation and operating of bank accounts in my name including many fraudulent transfers that I neither authorised, consented to, or had any knowledge of.

2. The fraudulent creation of loans, personal guarantees, cheques and bank transfers in my name, and using my forged signature, that I neither authorised, consented to, or had any knowledge of.

3. The creation and set-up of companies in my name that I neither authorised, consented to, or had any knowledge of, and that were seemingly created with the express intention to commit or conceal fraud.

4. The fraudulent creation of powers of attorney, and the misuse of existing powers of attorney, again in my name, that I that I neither authorised, consented to, or had any knowledge of.

5. The creation and provision to me of false and misleading financial statements and information regarding the performance of some of my private companies and investments by members of my own management team.

6. The payments of expenses using my private companies and personal bank accounts, I believe to hide the true financials of the public companies."

This is the first time Dr. Shetty, who is reportedly hiding in India for the last couple of months, issued a statement based on investigations he commissioned privately. He had brought in a consultancy to conduct it after initial revelations came to light that NMC Health had not been fully transparent with its finances.

Dr. Shetty had stepped down as executive chairman after the then Board of Directors barred him from attending any meetings. “I intend to work tirelessly to clear my name and assist any authorities in getting to the truth and help them ensure that misappropriated or missing funds are returned by the perpetrators to their rightful owners,” said Dr. Shetty.

This month, ADCB, which has the highest exposure among UAE banks to NMC Health, brought charges against five former officials, including ex-board of directors, with Abu Dhabi prosecution. The former CEOs of NMC Health and Finablr are also currently not in the UAE.

Kozhikode, Jan 26: The Indian national flag was unfurled at around 10,000 mosques and religious institutions across Kerala on the auspicious occasion of 71st Republic Day on Sunday.

"The national flag was unfurled at around 10,000 mosques across the state on this auspicious occasion as per the instruction of the Waqf Board," Secretary of the Kuttiady Juma Masjid Committee, K Basheer, told media here.

He said that the national flag was also unfurled at the Kuttiady Juma Masjid here as per the instructions.

"Constitution is under threat by the Citizenship Amendment Act, we also read the preamble of the Constitution in solidarity," Basheer said.

Meanwhile, a majestic event was held in the national capital on the occasion of Republic Day.

New Delhi, Jul 22: Sir Philip Barton visited Bengaluru on Tuesday in the first of the series of virtual regional visits as the UK's new High Commissioner and called Chief Minister BS Yeddyurappa, business leaders, and startup community to pitch for new momentum in the already strong UK-Karnataka relationship.

During his virtual call, High Commissioner Barton got a 'real' taste of Bengaluru through a traditional Masala Dosa delivered to his residence in Delhi along with authentic south Indian filter coffee, which he relished over a chat with historian and commentator Ramachandra Guha. They discussed the unique UK-India "living bridge" across culture and cuisine, history and heritage, and sports and science.

Both Yeddyurappa and the British envoy restated their commitment to working together on the immediate challenges of Covid-19 and beyond.

Barton subsequently 'traveled' to Electronics City, where he met with a range of key business leaders to discuss deepening the UK-India tech partnership and opportunities for global investors in the UK.

Barton also met with a group of entrepreneurs, business founders and innovators, who were part of the first GoGlobal UK cohort to explore the dynamic UK market considered one of the best ecosystems for startups in the world. 

They had earlier attended a week-long boot-camp in London and Manchester in December 2019 that helped them bolster their business skills, build links with UK's thriving digital sector, and paved the way for future partnerships.

"I am delighted to make my first regional virtual visit to Bengaluru, the technology hub of India. My visit comes at a difficult time for everyone. So it is also a time when the excellent collaboration between the UK and Karnataka across technology and healthcare could not be important," Barton said.

"Making the most of those close links, and drawing on the great energy, innovation and entrepreneurship that Karnataka is famous for, will be central to ensuring we all recover from Covid-19 stronger than ever," he added.