Embattled tycoon B R Shetty now holds employees responsible for NMC fraud 

coastaldigest.com news network
April 30, 2020

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.

Comments

Kannadiga
 - 
Thursday, 30 Apr 2020

Can he explain give few wordd about Daniel Varghese  the founder of UAE exchange.

Who is the person shattered his fate .

 

 

 

 

 

 

 

 

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News Network
March 21,2020

Bengaluru, Mar 21: Central Crime Branch (CCB) sleuths have nabbed a three-member Irani gang, including a woman and recovered from them 1 kg 33 gram stolen gold chains worth about Rs 40 lakh.

City Police Commissioner Bhaskar Rao told newsmen here on Saturday that the arrested were identified as Abujar, Abdul Hussain and Ms. Jenia, all hailed from Bhopal in Madhya Pradesh.

He said that the culprits, who had been arrested on similar theft cases, were out on bail and continued their criminal activities. They were involved in more than 23 cases.

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News Network
June 16,2020

Kalaburagi, Jun 16: Stones were pelted by villagers at an ambulance and a vehicle of health department at Tanda village here, which was fetching 15 people who had tested positive for COVID-19 to a hospital for treatment.

"A medical team along with some police personnel had gone to the Tanda village to bring 15 people who had tested positive for COVID-19 to a hospital for treatment on Monday," Lada Martin Marbaniang, Superintendent of Police (SP) Kalaburagi said.

"The medical team had an argument with villagers, which turned violent and those people started pelting stones at the ambulance and a vehicle of the health department," the SP said.

"On getting information, we rushed more security forces to the village. I visited the spot and spoke to a few leaders. Subsequently, we were able to convince them and all of them were brought to the hospital. A case has been registered against violent offenders," he added.

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News Network
April 9,2020

Apr 9: A panel of experts in the Karnataka state has suggested that the ongoing lockdown should be continued in districts identified as Covid-19 hotspots, including Bengaluru, to limit the spread of the pandemic.

IT companies and government offices providing essential services should be allowed to function with 50% staff, according to the committee headed by Narayana Health chairman Dr Devi Shetty, which submitted its report to chief minister BS Yediyurappa on Wednesday.

It has also asked the government to ease restrictions gradually and take adequate care over the next six months to contain the outbreak. The committee urged the government not to permit AC buses and metro services till April 30 and allow private vehicles only on alternate days (even-odd number-wise) for two weeks after April 15.

The government must close schools and colleges till May 31 and allow only inter-state movement of goods transport. The government could allow non-AC shops to open. It has suggested that the ban on inter-state train and flight services should continue.

Education minister S Suresh Kumar, who is the state Covid-19 spokesperson, said the Cabinet, which is meeting on Thursday, may discuss the recommendations and take a view on de-escalation of the lockdown.

Prime Minister Narendra Modi will interact with chief ministers through videoconference on April 11, after which the government will get an idea about the Centre’s thinking, he said.

While some states including Kerala, Maharashtra and Telangana have favoured continuation of the lockdown, Yediyurappa has not taken any stand publicly and has instead been implementing the Centre’s decision.

Six new cases

Karnataka on Wednesday reported six new Covid-19 positive cases, including that of a 65-year-old person in Kalaburagi, who died due to severe acute respiratory infection.

The health authorities have issued a notice to the private hospital -- where the deceased was initially admitted before being taken to a government hospital -- for not reporting the case to the government. The government has locked down the hospital, kept its entire medical team under quarantine, and police have registered a case of criminal negligence against the hospital authorities.

Of the other five positive cases, two had a travel history to Delhi, one had contact with a Dubai returnee and two others had close contacts with infected people.

This takes the total number of positive cases in the state to 181. Five people have died, while 28 have been discharged so far.

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