Divakar is Mangaluru Mayor; Janaki his Deputy

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.

Bengaluru, Mar 12: Karnataka on Thursday confirmed another positive case of the deadly coronavirus, taking the total number of infected persons to five in the state.

According to a source from the State Health Department, the infected person, a 26-year-old patient had recently returned from Greece. He is currently under observation in an isolation ward in a city hospital.

Bengaluru, Jul 3: Over 35 acres of land in nine villages on the outskirts of Bengaluru have been earmarked for burial and cremation of bodies of COVID-19 victims after concerns were raised over the safety of funerals being held in burial grounds located in residential areas.

Deputy Commissioner of Bengaluru Urban District GN Shivamurthy issued an order setting apart about 35.5 acres in the villages under four Taluks of Bengaluru North, Bengaluru South, Anekal and Yelahanka.

The order directed the respective Tahsildars to register these chunks of land as reserved for burial grounds and not to use for any purpose.

According to the sources in the district administration, Karnataka Health Minister B Sriramulu and Revenue Minister R Ashoka had directed the officials to identify places on the city outskirts to dispose of the bodies of COVID-19 victims.

Mr Sriramulu had on Wednesday said COVID-19 victims will not be laid to rest in burial grounds in the city and separate places will be earmarked on the outskirts in the backdrop of safety concerns raised by public.

He had also warned against unscientific disposal of used Personal Protection Equipment kits worn by the families of the victim for the final rites, referring to reports about such instances.

In some places, people have also expressed concern over bodies of those who died of the coronavirus being buried in their neighbourhood.