Yeddyurappa govt should get No. 1 award for corruption: Amit Shah!

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."

Hubli, Feb 19: The Karnataka Police on Wednesday registered a case against unknown persons for assaulting three Kashmiri students in the court premises here.

A suo motu FIR has been registered at Vidyanagar police station of Hubli in which assault charges have been filed against 10 to 15 unknown people.

It can be recalled that on February 17 these three Kashmiri students were attacked in court premises after they were produced in court on charges of sedition.

The Kashmiri students were arrested here on February 15 after their video in which they are seen allegedly raising pro-Pakistan slogans went viral.

The students were studying at the KLE Institute of Technology on a central government scholarship.

Wayanad, Apr 21: Panic gripped residents of Mananthavady and Mepaddi regions of the district after several cats in the region were found dead.

A group of people approached authorities after which the Animal Husbandry Department tested samples from the carcasses and found that the cat deaths were caused by Feline Parvovirus, which does not transmit to humans.

Speaking to ANI, Dr D Ramachandran, Chief Veterinary Officer, Wayanad said that Feline Parvovirus affects cats and vaccines are available to protect cats and keep the virus at bay.

"There were incidents of cat deaths in Mananthavady and Meppadi region of Wayanad district creating panic among the local residents. The officials of the Animal Husbandry department visited the spots for epidemiological investigations. The samples were collected and sent to the State Institute of Animal Diseases, which confirmed that the deaths were due to Feline Parvovirus. There is no need to worry as this virus does not spread to humans," he said.

A cat owner in Meppadi said that within a span of two-three days, over 13 cats had died in the region.

"We are afraid of these sudden cat deaths amidst coronavirus outbreak. We have informed the Health Department and Animal Husbandry department. Officials came here and collected the samples," she said.