City police chief flags off 3-Hungry Men's NH66 expedition in quest for good food

Mangaluru, Feb 11: BJ Puttaswamy, chairman of the State Planning Board stated that the detailed project report (DPR) to develop the Mangaluru-Karwar fisheries road at a cost of Rs 780 crores has been submitted to the state government and approval for it by the Coastal Development Authority (CDA) is pending.

Speaking to reporters here on Tuesday, he said the new developments done and in those in the future for the coastal districts.

He claimed that a feasibility report for the development of State Highway 67 has been submitted to the government.

Bengaluru, Mar 10: Three more positive COVID-19 cases have been confirmed in Karnataka taking the tally to four, state Health Minister B Sriramulu on Tuesday informed.

"Their family members have been isolated and their health is being monitored. I urge citizens to take precautionary measures and co-operate in preventing the spread of this infection," Sriramulu said.

As on Monday, the national tally of persons affected by the coronavirus is 45.

According to the Indian Council of Medical Research (ICMR), in the past 24 hours, one positive case from Kerala, two from Pune, and three from Bengaluru have been confirmed.

Apart from the ICMR; National Institute of Virology in Pune; 51 Virus Research and Diagnostic Laboratories; and National Centre for Disease Control, New Delhi are carrying out tests for COVID-19.

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."