Village Stay: 42 villages where HDK had stayed earlier still in pathetic condition, says BSY

Bengaluru, June 14: Chief Minister B S Yediyurappa-led BJP government of Karnataka has once again urged the Prime Minister Narendra Modi-led union BJP government to release GST compensation worth Rs 10,208 crore that is due for the state.

The request was placed with Finance Minister Niramala Sitharaman during the 40th GST council meeting, in which Karnataka Home Minister and state’s representative to the council, Basavaraj Bommai, participated.

Speaking to reporters after the meeting, Bommai said that Rs 10,208 crore was due from the Centre as GST compensation for four four months - from March to May.

“We have requested the Centre to release Rs 1,460 crore - pertaining to GST compensation for the month of March - as soon as possible due to the dire financial conditions of the state,” he said.

Bommai said that the state was confident that the funds will be released soon, noting that Karnataka had recently received Rs 4,314 in GST compensation for three months, between December 2019 to February 2020.

Meanwhile, the state also proposed the Council to reduce penalty for delay in filing GST. Bommai said that while people are made to pay 18% of the tax as fine in delay in payment, Karnataka has asked the Centre to reduce the percentage by half to 9%.

New Delhi, May 20: In further relaxation of lockdown rules, domestic flights will begin operations from May 25 in a calibrated manner. Currently, only cargo and evacuation flight services are allowed.

The nationwide lockdown to halt the spread of coronavirus is in place till May 31. However, certain relaxations have been allowed.

All airports and air carriers are being informed to be ready for operations from next week, tweeted civil aviation minister Hardeep Singh Puri.

The standard operating procedures for passenger movement will be separately issued by the ministry, said the minister.

Apr 12: The board and management of troubled NMC Healthcare should be held accountable for the financial irregularities, said Abdulaziz Al Ghurair, chairman of the UAE Banks Federation.

"Banks have dealt with the exposure professionally and they lent to a company which was listed on FTSE-100 index with world-class regulator and the world's largest audit firm doing their audit. Even if they present their balance sheet today, people will still lend to them. This is a world-class fraud and the management and board members should be held accountable. We should have a different track to handle this company. It is not a normal track that we can go," Al Ghurair said during a virtual press conference on Sunday.

It is estimated that the more than 80 local, regional and international banks have exposure to healthcare firm. The UAE bourses had asked all the listed companies in the UAE to announce their exposure. The UAE banks last week announced nearly Dh10 billion exposure to NMC Healthcare, which is owned by the billionaire BR Shetty.

Abu Dhabi Commercial Bank has the highest exposure to NMC at Dh3 billion. Dubai Islamic Bank and its subsidiary Noor Bank announced Dh2 billion exposure while Emirates NBD and its Shariah-compliant unit Emirates Islamic Bank revealed Dh747.34 million exposure. Ajman Bank has Dh151.8 million while Al Salam Bank pegged its exposure at Dh161.5 million. All these lenders revealed their exposure for the first time on Sunday.

Abu Dhabi Islamic Bank said it had extended Dh1.07 billion in financing to NMC Healthcare, and an additional Dh113.67 million exposure to Islamic bonds issued by NMC.National Bank of Fujairah pegged its exposure to NMC at Dh289.1 million, while Sharjah-based United Arab Bank said its exposure was Dh135.3 million.

NMC recently revised its debt position to $6.6 billion, well above earlier estimates.

London's High Court last week placed hospital operator NMC Health into administration, on the application of Abu Dhabi Commercial Bank.

"I know leading bank in UAE have already legal guardian of the company so now management cannot hide anything. The new team will manage and discover what happened," said Al Ghurair.