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Mangaluru, Jan 24: Urwa Police have arrested a 27-year-old youth on charges of chain snatching and recovered around 300 grams of stolen gold chains worth Rs 12 lakhs from him, the police said on Friday.

According to the police, the arrested, Vinay Prasad alias Vinod Jogi, a resident of Badaga Ulipady was allegedly involved in more than 10 cases of chain snatching.

The value of the seized gold is estimated at around Rs 12 lakh. The police also confis

Mangaluru, Jan 24: Urwa Police have arrested a 27-year-old youth on charges of chain snatching and recovered around 300 grams of stolen gold chains worth Rs 12 lakhs from him, the police said on Friday.

According to the police, the arrested, Vinay Prasad alias Vinod Jogi, a resident of Badaga Ulipady was allegedly involved in more than 10 cases of chain snatching.

The value of the seized gold is estimated at around Rs 12 lakh. The police also confiscated a bike and an auto-rickshaw found in his possession.

cated a bike and an auto-rickshaw found in his possession.

Mangaluru Jun 18: Dakshina Kannada on Thursday, June 18, reported 23 fresh covid-19 cases, taking the total number of the cases detected in the district to 401.  

Among the 23 corona-positive patients, there are 21 males and two females. 

21 are Saudi returnees, while the other two have contracted infection from P-6618.

No cases were reported in Udupi district on Thursday.

The total number of cases in Udupi is 1,039, with only 92 cases being currently active. As many as 946 patients including 38 on Thursday who recovered have been discharged from hospital.

Abu Dhabi-based NMC Healthcare has reportedly received bids to sell its distribution unit and will soon be selling it to different parties.

The development comes over three months after NMC Healthcare’s founder and then-chairman B R Shetty stepped down amid allegations of massive fraud. 

The company, which recently laid off hundreds of workers, is offloading stake in the subsidiary as it is considered non-core and requires substantially high working capital to run the operations. In addition, this stake sale will help the company pay off some of its debt

"There are parties who have strong interest in the distribution business. NMC will be offloading the unit soon and that also to different parties," a source said.

"The company is in the process of exploring options for NMC Trading, the group's distribution business, which it has determined to be non-core and requiring substantial levels of working capital. The process should not materially adversely impact distributors' activities, nor NMC Trading's customers," an NMC Healthcare spokeswoman said.

The UK-court has appointed Alvarez & Marsal as administrator to oversee the operations of the debt-ridden hospital operator. The healthcare firm has been caught in a whirlpool of $6.6 billion debt while its senior former high management team is under investigation for financial irregularities.

The UAE Central Bank has direct local banks to freeze all bank accounts of NMC founder BR Shetty and his family members as well as accounts of those companies where he has a stake. The Central Bank move is subsequent to a criminal complaint filed by Abu Dhabi Commercial Bank, which has the largest exposure to NMC Healthcare, amounting Dh3 billion.

As the company faces financial difficulties, Reuters reported that NMC Health delayed May staff salaries and now expects to complete making payments by the first week of June.

The spokeswoman said: "The company has been in regular dialogue with its creditor constituencies through various creditor committees, including the direct bank lenders to its NMC Trading businesses."