Yeddyurappa warns of action against dissidents

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.

Mangaluru, May 17: Former health minister U T Khader demanded that the authorities carry out a scientific analysis of the five deaths that occurred due to Covid-19 in Dakshina Kannada. 

“The number of fatalities vis-à-vis the number of positive cases in the district is worrying, and the district administration and health department should not take the matter lightly. Lapses, if any, in dealing with the co-morbidity factors should be addressed, lest it become a major health challenge,” he warned.

Addressing reporters on Saturday, Khader, said only carrying out such types of analysis will help the health department combat the spread of the novel coronavirus in the future. “At present, the only data available with the health authorities here and in the state war room, is the number of people tested and number of positive cases,” Khader said.

“Any strategy to combat Covid-19 must be built around scientific analysis of causes of how the disease is spreading and to do so, concrete efforts must be made to find the source of the cluster at the First Neuro Hospital in Padil. A analysis of reasons that caused the deaths, will also come in handy for the authorities to prepare suitable advisories for the people, who in turn could take informed decisions,” Khader noted.

Bengaluru, Ju 2 As many as 19 deaths and 1,502 new COVID-19 cases were reported in Karnataka till 5 pm on Thursday, as per information provided by the State Health Department.

The total number of COVID-19 cases in the state now stands at 18,016, including 9,406 active cases.

While 8,334 patients have been discharged after treatment, 272 people have succumbed to the virus.

India's COVID-19 tally breached the 6 lakh cases mark with 19,148 new coronavirus cases being reported in the last 24 hours, informed the Union Ministry of Health and Family Welfare on Thursday.

The total cases now stand at 6,04,641 of which there are 2,26,947 active cases while 3,59,860 patients have been cured/discharged/migrated. 434 deaths have been reported in the last 24 hours taking the number of COVID-19 deaths in the country to 17,834.