Many VCs in state have paid bribe to get their posts: HDK

Mangaluru, Jul 15: The Mangaluru city police arrested three people in connection with the murder of Adyar Gram Panchayat member Yaqoob, which took place on Friday last week. Personal enmity and financial issues are the reason behind the murder, said police.

The arrested accused are Shakir, Haneef and Shakir Ahmed, all residents of Adyar.

 According to police, the main accused Shakir, who was involved with the sand mafia and had other business interests had financial issues, and personal enmity with Yaqoob, a GP member backed by the BJP. 

The investigating officer said they were produced before the court through video conference. They have been remanded in police custody for undergoing testing for Covid-19. They will be again be produced before the court physically, only if they test negative.

Mangaluru, Apr 13: Struck by the boredom of lockdown imposed to curb the spread of coronavirus, a 17-year old was caught on Sunday trying to sneak his friend out of his apartment complex by stuffing him inside a suitcase, police said.

"A minor, aged 17-years-old, a resident of Orchid Apartment, Balmatta invited his friend, a resident of Motisham Apartment, Pandeshwar to stay with him on April 11, Saturday," said PS Harsha, the Commissioner of Police, Mangaluru.

The friend wanted to return back to his apartment in Pandeshwar the next day but due to strict security put in place, he got inside a large trolley suitcase. Security guards at the apartment, however, got suspicious when they noticed the wobbling of the suitcase that was being wheeled to the gate.

Based on the suspicions, security personnel alerted the residents of the building and opened the suitcase from which they were shocked to find the boy's friend stepping out. Police were later called in.

A case has been registered against the two minors at the East Police station, police said adding that the duo will be produced before the Juvenile Justice Board.

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.