25 eloquent points from PM Modi’s I-Day speech 

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 4: In line with the directive of the Deputy Commissioner against opening textile shops even after the relaxation of lockdown, it has been decided to continue the closure of all textile shops in Hampankatta area of Mangaluru until the end of the blessed Ramadan, President of KTA Youth Forum said on Monday.

Pointing out that several rumours were doing the rounds in social media on the opening of textile shops in the wake of Eid, the owners of textile shops met on Monday morning and unanimously decided against opening the shops. The association said the local MLA has also been consulted on the issue.

KTA Youth Forum is an organisation of owners of shops at Kunil Centre in Tokyo Market and Akbar Complex here, mostly comprising of Muslims.

Bengaluru, Apr 28: A CRPF jawan has been arrested in Karnataka for allegedly defying the COVID-19 lockdown norms with the paramilitary force taking strong exception to his 'ill treatment', following which an inquiry has been ordered by the state police.

State DGP Praveen Sood has ordered inquiry into the incident, which has triggered a row after a video of it went viral.

In the clip, some police constables are purportedly seen hitting CRPF soldier Sachin Sawant with sticks in Belagavi.

According to the information shared on social media, Sawant was washing his bike when a police team reached the spot and started beating him up for not wearing a mask during the lockdown.

Taking a serious view of the 'ill-treatment' meted out to its Cobra Commando, the CRPF has written a letter to the Karnataka police demanding an investigation into the matter.

In a letter to the DGP of Karnataka, the additional Director general of police of CRPF Sanjay Arora said Sawant was cleaning his bike when a skirmish happened between him and the police over not wearing the mask.

Arora wrote, "Sawant was manhandled and ill-treated, before his family members and paraded to the police station barefoot, where he was kept in chains and handcuff.

From the scrutiny of a viral video on social media, it is apparent that the conduct of police personnel was not citizen centric."

The CRPF ADGP also said the 'unpleasant' situation could have been avoided if the Karnataka police had taken CRPF hierarchy into confidence before making the arrest.

In response, Sood ordered an inquiry into the matter.

He tweeted that IGP Belagavi has been asked to conduct a probe into the incident involving CRPF constable. Action will be taken against guilty after receipt of report, he said.

According to sources, Home Minister Basavaraj Bommai has directed the state police chief to conduct a detailed inquiry into the incident.

Denouncing the arrest, Karnataka Irrigation Minister Ramesh Jarkiholi has sought the release of the CRPF jawan.

"It was wrong on the part of the constables to ill treat CRPF jawan and an inquiry be conducted against the erring policemen," said jarkiholi in a press release.

However, Superintendent of Police of Belagavi district, Laxman Nimbargi defended the arrest of Sawant.