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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.

Abu Dhabi: Yogish Prabhu K is the newly elected president of Abu Dhabi’s prestigious India Social & Cultural Centre (ISC) and he will serve for the period 2020-2021. ISC’s annual general body meeting and Election for 2020 were held on Thursday, February 27 and the election results of the election were announced during the early hours of Friday, February 28th morning.

In the keenly contested election, Yogish Prabhu emerged victorious. Humble origin and hailing from a small town of Karkala from Udupi district of Karnataka state has never deterred him from setting challenging goals. He belongs to a well-known Gouda Saraswat Brahmin family of K.V.Prabhu Coconut oil mill in Karkala. He is the eldest son of Late Rtn. Krishna Prabhu and Rtn. Bharati Prabhu.  His father and grandfather were freedom fighters who left a profound impression on him and their ideology “serving people is like worshiping God” (Jana seveye Janardhana seve) inspired and guided his life ever since. Prabhu has been a privilege member of ISC since 2003 and has been actively involved in ISC activities throughout. His relationship with ISC spans over 2 decades during which he has immensely contributed in many ways to ISC and the Indian community at large. A banker by profession, Yogish Prabhu is currently working as Vice President, Group Finance & Treasury, First Abu Dhabi Bank (FAB).

With some new initiatives in his mind, Prabhu wants to creatively improve the quality of ISC’s services, its humanitarian impact as well as the diversity of its membership. His intentions are always to help everyone irrespective of caste, creed, religion, language or status. As a new elected President of ISC, Prabhu’s main objective is to strategically plan and implement his vision through his ABC 5 Year Plan i.e.,

A-    Accountability & Transparency,

B-    Build a Sound Financial Plan and

C-    Compassion & Affection for the needy

so that ISC is recognized not just in UAE, but worldwide as a mascot of the great Indian community.

Prabhu thinks “as individuals, we can do only so much but with the support of Elected ISC Committee members and all the ISC members together, there is no limit to what we can achieve, and in the process, we can truly transform the ISC”. He proudly says, “I have a strong treasury management experience in ISC as well as in the bank which we need now more than ever”.

With his dynamic leadership, sheer dedication and ambition, ISC will definitely be scaling new heights of glory and prestige in Abu Dhabi and beyond. His humble nature, leadership qualities coupled with his rich administrative experience will surely help boost ISC’s popularity and meet its challenging goals and can serve people in a better way and contribute to the Indian community at large.

Yogish Prabhu has been married for 28years. His wife Chethana Prabhu Kasaragod too has been equally active in ISC and continuously supporting and participating in various sports, entertainment and literary committees throughout these years. She became ISC Women’s Forum Convener in 2016-2017. Their daughter, Aarti Prabhu is an IT Engineer from NITK Suratkal, working in Bangalore. Son, Ajith Prabhu finished his Masters in Mechanical Engineering and Management in Industrial Design in Queens University, Belfast, Northern Ireland, UK and at present doing his internship there. Both Aarti and Ajith are alumni of Abu Dhabi Indian School and both have represented National level CBSE Badminton meet. Also, Aarti was a Gold medalist in the school for scoring 100 in Mathematics in SSLC.

Following are few of his contributions and achievements:

•          Hon. Asst. Treasurer of ISC for consecutive years from 2005 till 2007

•          Hon. Treasurer of ISC in 2011.

•          Member of Finance Committee of ISC new infrastructure and premises from approval till completion.

•          In 2016, initiated the participation of ISC members as officials for International Yoga Day organized by Indian Embassy

•          In 2017, initiated the participation of children as officials to help the organizers so that children could learn their social responsibility and become good citizens.

•          In 2012, initiated ladies throw ball tournament in ISC and now it is extended to men too.

•          Member of IPEF since its inception in 2014. Also served as its Governing board member in the same year.

•          Founder member of ‘UAE GSB group’ since its formation in 2004

•          Committee member of ‘Gandhi Sahitya Vedi’ Abu Dhabi

•                    Treasurer of Abu Dhabi Karnataka Sangha

•          Head of Finance and member of other committees of ‘World Tulu Convention’ held in Dubai - 2018

Election was held for other Posts too. The other office bearers elected to the present committee are:

Vice-President: George Varghese.

General Secretary: Jojo J Ambooken

Asst.Gen.Secretary: C. George Varghese

Treasurer: Shijil Kumar N K

Entertainment Secretary: Jayapradeep K P

Literary Secretary: Elias Padavetty

Sports Secretary: Freddi J. Fernandes

Secretary Southern Region: Raja Srinivasa Rao Aita

Auditor: G.N.Sasikumar

Shivamogga, May 21: An FIR has been registered against Congress interim President Sonia Gandhi in Sagar taluk of Shivamogga district of Karnataka over tweets on May 11 by the party's official handle about PM-CARES fund.

The FIR, registered under Sections 153 (wantonly giving provocation with intent to cause riot) and 505 (statements conducing to public mischief) of the Indian Penal Code (IPC), identifies Gandhi as the handler of the social media account.

The complaint by advocate Praveen KV alleged that the Congress party, through the tweets, has made rumourous statements against the Government of India and Prime Minister Narendra Modi and was trying to provoke the people against the government.

According to the FIR, the Congress party had on May 11, 2020, made false and baseless allegations, claimed misappropriation of PM-CARES Fund and cast aspersions on the Government of India through the tweets.

"A Twitter account handled by All India Congress Committee headed by Sonia Gandhi had on May 11, 2020, published tweets terming PM CARES Fund as PM CARES Fraud. They had claimed that the PM CARES fund is not being used for the public," Praveen KV told ANI on Thursday.

He said that he has collected all the details related to the tweets and account from the handle and filed a complaint in the matter, following which a preliminary enquiry was conducted and an FIR was registered in the matter.

"They had also said that the Prime Minister was enjoying and going to foreign trips with this fund. This is clearly rumourous news against the Government of India in this COVID-19 pandemic situation. In this regard, I had filed a complaint. After a primary enquiry, the Sagar Police has filed an FIR against Sonia Gandhi, who heads the INC Twitter account," Praveen KV said.