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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, Jan 10: A gang of smugglers, who were planning to illegally export 4,000 kg of red sandalwood worth Rs 2 crore through New Mangalore Port, were nabbed in a joint operation by the anti-rowdy squad of Mangaluru North sub-division and sleuths of Panambur police station.

The arrested have been identified as Tabrez (36), Lohith (35), Rakesh Shetty (44), Hussain kunhimonu (45) and Farooq (45).

Commissioner of Police Dr P S Harsha said that red sandalwood worth Rs 2 crore were seized from the accused.

The other seized properties from the arrested include a Maruti Brezza, Renault Pulse, Tata Ace, two plywood boxes and seven mobile phones valued Rs 19 lakh.

Based on a tip off, the police raided a godown on the road leading to Jokatte from Baikamlady Industrial Area and seized 4,000 kg of red sanders worth  Rs 2 crore.

A case has been registered under Sections 50, 62, 80, 104 of Karnataka Forest Act and 144, 165 of Karnataka Forest Rules at the Panambur police station.

Bengaluru, Apr 27: As many as 345 Bengaluru-based journalists tested negative for coronavirus on Monday after undergoing a medical check-up got up for them at a hospital here, a top official said.

They had undergone the tests at the Sir C V Raman General Hospital here on April 25 and the results came out negative on Monday. They were among a total of 1,170 journalists who took the tests at the four-day medical check-up camp at the Hospital here from April 23.

"The medical check-up was done in four slots at the Hospital here from Thursday and concluded on Monday. A total of 1,170 journalists undertook the tests, 480 of them on Monday alone, the joint director of the Department of Information and Public Relation D P Muralidhar said.

The test reports of the 480 journalists may come out on Wednesday, he said. Only one journalist tested positive so far and has been admitted to the designated COVID-19 hospital, he said, adding 36 of his primary and secondary contacts have been quarantined.