20-year-old man sets mother ablaze for denying him money

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.

Madikeri, Feb 23: Back-to-back floods and landslides in the last two years, has led to a fall in the number of tourists coming to the coffee-growing region of Kodagu, forcing the district administration to intervene and take confidence-building measures, telling tourists that Kodagu was safe to visit.

According to the statistics of the Karnataka State Tourism Department, Kodagu recorded a moderately good number of tourists in 2018 and 2019, the years that the district witnessed devastating floods and landslides.

The Department’s statistics reveal that 17 lakh tourists visited Kodagu in 2018 and 18 lakh in 2019. This means the flood-ravaged years did attract tourists contrary to what the stakeholders had claimed.

Mangaluru, Feb 14: In a unique initiative, students of a government school in Dakshina Kannada have made a food stop in the campus to provide water and food to birds and squirrels.

The students have hung coconut shells on trees in the school premises with food and water in it for birds and squirrels.

Speaking about the same, the Principal of the school said: "Students are taking a lot of interest in the activity. Various types of birds visit the school campus, making the ambience very nice."

He added that he wants children to become socially and environmentally conscious. "The one area where children need to be given exposure is the protection of the environment, the upkeep of the campus and the greenery in and around their homes as well as in their schools."

Commenting on the recent initiative of the school's eco-club, he said, "Using this small idea, we can have a great beginning towards taking up bigger initiatives to take care of the environment."