Mangaluru: Woman killed, over 20 injured in Nanthoor serial accident

Bengaluru, Feb 5: Despite installing a BJP government in Karnataka through disguised operation Kamala, the Prime Minister Narendra Modi-led union government has continued its step motherly attitude towards this south Indian state.

Under the new formula adopted to share central taxes among states Karnataka will be the worst-affected. Though the 15th Finance Commission has recommended a special grant of Rs 5,495 crore for the state for 2020-21, the Centre appears reluctant to pay up and instead has asked for the proposal to be reviewed.

During the Union budget, the report of the 14th Finance Commission headed by NK Singh for 2020-21 was tabled in Lok Sabha. It shows besides Karnataka, Telangana, Mizoram and Kerala saw their central tax share decrease, while Uttar Pradesh, Bihar and Maharashtra were top gainers.

Karnataka's share has decreased from 4.7% provided by the previous finance commission, to 3.6%. Acknowledging there is a steep decline in Karnataka's share from 2019-20, the finance commission has recommended a special grant of Rs 5,495 crore for the state.

Its share in 2019-20 was Rs 36,675 crore, but under the new formula, Karnataka will get only Rs 31,180 crore in 2020-21 from the divisible pool of Rs 8.5 lakh crore - a decline of 22.5%.

Also, the decrease for Karnataka comes on the back of a shortfall in 2019-20. While the state was entitled to Rs 39,806 crore from the divisible pool, it got only Rs 36,675 crore as the Centre suffered a tax revenue shortfall of Rs 1.5 lakh crore.

What is more disheartening though is the Centre's refusal to pay the special grant. Instead, the Union finance ministry has asked the finance commission to reconsider the recommendation. This has prompted the state to take up the issue with the Centre.

"The decline in central taxes devolution comes at a time when the state is going through a tough financial situation. Steps are being taken to ensure Karnataka gets justice," said chief secretary TM Vijay Bhaskar.

Officials said besides corrective measures for 2020-21, the focus will be on ensuring a fair share in subsequent years. However, Karnataka has little chance of getting its dues as the Centre is known to be prudent when distributing tax proceeds among states.

"The Centre has certain views on devolution. We have done our duty by submitting the interim report. It's up to the states to convince the Centre," said Ravi Kota, joint secretary of 15th Finance Commission.

Under the new formula, the commission changed the weightage for some of the six criteria it considers - population, area, forest cover, income distance, demographic performance and tax effort.

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.

Dubai, Feb 19: A 25-year-old Indian engineer allegedly fell to his death from a residential apartment in Dubai, according to a media report.

Sabeel Rahman, from Kerala who has been living in Dubai since 2018, fell off the building near his work site, The Khaleej Times quoted a social worker as saying.

Naseer Vatanapally, the social worker, is assisting the family to repatriate his mortal remains back home to Thirur in Malappuram district, the report said.

"The case is a bit unusual. We''re not sure why he went to the building near his worksite," said Naseer Vatanapally.

"His family is unaware of any issues he may have faced. He had asked his brother to collect a new mobile phone he had purchased online - which they received. He had no reason to take his life," he added.

Rahman was the youngest of four siblings. The devastated family is awaiting details from the Rashidiya Police Station. "Following legal procedures, we will repatriate his body back home," he said.