Banks asked to search and seize B R Shetty’s accounts in UAE

News Network
April 26, 2020

Dubai, Apr 26: The Central Bank of the UAE (CBUAE) has instructed financial institutions in the country to search and freeze all bank accounts of Indian billionaire BR Shetty and his family along with those of companies where he has a stake.

The apex bank has also blacklisted several firms associated with Shetty along with their entire senior management.

In an advisory issued last week, CBUAE cited decisions of the Federal Attorney General and asked financial institutions to search and freeze any bank accounts, deposits or investments in the name of Shetty or his family members.

Financial institutions have been directed to stop transfers from these accounts and deny access to deposit boxes.

Currently in India and facing a string of charges, Shetty is the founder of NMC Health.

The heathcare provider was placed into administration by a UK court recently following an application by the Abu Dhabi Commercial Bank (ADCB) which alone has an exposure of $981 million (Dh3.6 billion).

Overall, UAE banks have a combined exposure of more than Dh8bn to NMC which owes money to Oman-based banks and financial institutions as well.

Probing credit facilities
The Central Bank has sought information about credit facilites extended to the Shettys along with details of their safe deposit boxes and the financial transfers they have made till date.

A similar advisory has been issued for NMC Healthcare and NMC Holding, based on the decision of the Head of Plenary Fund Prosecution.

The Central Bank has also blacklisted several companies associated with Shetty. Key staff members of these firms have been similarly blacklisted.

Comments

Angry Indian
 - 
Monday, 27 Apr 2020

when you make money with good country you should not make doka to that country, first of all we indian have bad name in GCC now this will make more dought on indian hindus..

 

after BJP come to power in india,our country is acting like maron, this will only end with final WAR.

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News Network
June 27,2020

New Delhi, Jun 27: Prime Minister Narendra Modi on Saturday said that India fared much better compared to some other countries in the fight against the COVID-19 pandemic. The PM made this observation while delivering the inaugural address to mark the 90th birth anniversary celebrations of Reverend Dr Joseph Mar Thoma Metropolitan.

"Earlier this year, some people had predicted that the impact of the virus in India would be very severe. Due to lockdown, many initiatives have been taken by the Government and in this people-driven fight, India is much better placed than many other nations. India's recovery rate is rising," Modi said in his virtual address.

He further warned that the time was not apt to "let our guard down".

The prime minister greeted the Mar Thoma Metropolitan and wished him a "long life and best health."

"Dr Joseph Mar Thoma has devoted his life for the betterment of our society and nation. He has been particularly passionate about the removal of poverty and women empowerment," the prime minister said.

Praising the Mar Thoma Church for its contributions to the country the Prime Minister added that it has worked to bring a positive difference in the lives of people in the country in areas of healthcare and education.

"The Mar Thoma Church is closely linked with the noble ideals of Saint Thomas, the Apostle of Lord Christ. India has always been open to spiritual influences from many sources. It is with this spirit of humility that the Mar Thoma Church has worked to bring a positive difference in the lives of our fellow Indians," Modi said.

Followers of the Mar Thoma Church from India and abroad participated in the programme through video conference.

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Agencies
July 2,2020

New Delhi, Jul 2: In the midst of India's tense border standoff with China, the defence ministry on Thursday approved procurement of a number of frontline fighter jets, missile systems and other platforms at a cost of Rs 38,900 crore to bolster the combat capability of the armed forces, officials said.

They said 21 MiG-29 fighter jets are being bought from Russia while 12 Su-30 MKI aircraft will be procured from Russia. The ministry has also approved a separate proposal to upgrade existing 59 MiG-29 aircraft.

The decisions were taken at a meeting of the Defence Acquisition Council (DAC) chaired by Defence Minister Rajnath Singh.

The procurement of 21 MiG-29 and upgrading of the existing fleet of MiG-29 are estimated to cost the government Rs 7,418 crore while purchase of 12 new Su-30 MKI from the Hindustan Aeronautics Ltd will be made at a cost of Rs 10,730 crore, the officials said.

The DAC also approved procurement of long-range land-attack cruise missile systems with a range of 1,000 KM and Astra Missiles for Navy and Air Force.

The officials said cost of these design and development proposals is in the range of Rs 20,400 crore.

"While acquisition of Pinaka missile systems will enable raising additional regiments over and above the ones already inducted, addition of long-range land attack missile systems having a firing range of 1000 KM to the existing arsenal will bolster the attack capabilities of the Navy and the Air Force," said a defence ministry official.

"Similarly induction of Astra Missiles having beyond visual range capability will serve as a force multiplier and immensely add to the strike capability of the Indian Navy and the Indian Air Force," he said.

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News Network
July 6,2020

Dubai, July 6: Even as the world’s one of the most sought after tourist destinations is gearing up to welcome foreign tourists from July 7, the authorities have taken necessary measures to prevent the spread of covid-19.

If the foreign tourists want to avoid self-isolation after landing in Dubai International Airport, they have to fetch covid-negative certificates from their home country. The certificate ought to have been issued up to 96 hours prior to the travel.

Those without a cvid-negative certificate, however, will need to undergo a PCR test on arrival at the Dubai airports and self-isolate until they receive their negative results.

"If passengers opt to take the PCR test on arrival in Dubai, they must self-isolate until test results are received. If the test result is negative, passengers can leave the hotel and enjoy the trip as normal. However, if the test result is positive, passengers are asked to follow the advice of the Dubai Health Authority and self-isolate," Emirates said in a statement.

Budget carrier flydubai said if a passenger tests positive for Covid-19, he/she would need to observe a 14-day quarantine. The airline also advised passengers to comply with all the precautionary Covid-19 measures in place in Dubai "including wearing a mask, observing social distancing and washing your hands regularly".

Tourists with Covid-19 symptoms

* If a traveller is suspected to have Covid-19 symptoms, Dubai Airports has the right to re-test to ensure the tourist is free of the virus

*It is mandatory for Covid-positive tourists to isolate themselves at an institutional facility provided by the government for 14 days at their own expense.

Other requirements

*Travel insurance: Tourists must have a travel insurance with Covid-19 cover or declare that they would bear the costs for treatment and isolation if required. "Bring an insurance certificate stating Covid-19 coverage to present at check-in," Emirates said.

*Visa: Referring to visa requirements, Emirates said: "Depending on your nationality you can get a visa on arrival, or you can apply for your visit visa from Dubai Immigration before you travel."

*Health Declaration Form: Tourists need to complete the form that states they are free from Covid-19 symptoms. This must be done before embarking.

*Tracing app: Tourists must download the Covid-19 DXB app and register details. "This is critically important since it facilitates easy coordination and communication with the health authorities if tourists experience Covid-19 symptoms," Dubai authorities had said earlier.

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