Rahul Gandhi "best PM material": Veerappa Moily

Bengaluru, Jul 18: Bringing a major change in the  administration of Bengaluru, which has emerged as a Covid-19 hotspot, the state government on Saturday transferred B H Anil Kumar out of the BBMP and brought N Manjunath Prasad to take his place. 

Manjunath Prasad, who headed the Bruhat Bengaluru Mahanagara Palike (BBMP) before being replaced by Kumar, will take over with immediate effect. The government has also placed him in concurrent charge of the Revenue Department as well as the Disaster Management, Bhoomi and UPOR.

Kumar, an Additional Chief Secretary, has been put in a place where earlier a secretary was posted. He now heads the Department of Public Enterprises. The posting would have brought him two spots down had it not been for the government upgrading it to the level of additional chief secretary. 

Anil Kumar, who was earlier praised for his work to contain the coronavirus pandemic, had faced criticism by the High Court of Karnataka for the BBMP's failure to help people in containment zones as well as other issues on the spread of the pandemic. 

Sources in the government said, pressure has been building up against Anil Kumar over the last two months after most of the Bengaluru MLAs complained to the chief minister's office.

"No MLA backed him. Everyone had a problem," a source said. 

Things came to the head with regard to a Rs 436 crore project given to KRIDL. "The issue reached the chief minister's office as all the MLAs took an issue with the way the project was awarded," a source said. 

Another source said that Kumar came under fire after a central team flagged the issue of failing Covid-19 surveillance measures in Bengaluru. The central team's criticism, it is widely believed in the government, came as the last straw. 

Abu Dhabi, Feb 17: NMC Health Plc, a hospital operator targeted by short-seller Muddy Waters, said founder Bavaguthu Raghuram Shetty resigned amid investor concern he faced a margin call and misrepresented his stake.

The board asked for Co-Chairman Shetty’s resignation and it takes effect immediately, according to a person with knowledge of the situation. NMC has lost four board members since Friday, including Vice Chairman Khaleefa Butti, whose holdings are also being probed. The stock, the worst performer on the FTSE-100 Index this year, fell as much as 9.2 percent Monday morning and then rebounded.

“The resignation of senior board members should be viewed positively,” said Abdulla Nahlawi, an analyst at Rasmala Investment Bank in Dubai. “The credibility of the current board has been jeopardized with the unfolding of the recent events.”

NMC shares lost almost half their value the first week of February on speculation the company’s main investors faced a margin call, in which banks seize shares pledged as collateral. NMC said Friday that First Abu Dhabi Bank and Al Salam Bank Bahrain obtained 20 million shares in the company from BRS International Holding, an investment vehicle of NMC’s top shareholders. The banks sold more than 8 million of those shares as “enforcement of security,” NMC said.

NMC operates the largest medical network in the United Arab Emirates and in 2012 became the first Abu Dhabi company to list in London. The shares started teetering in mid-December when Muddy Waters alleged that NMC manipulated its balance sheet and inflated the prices of companies it acquired.

Shetty, 77, was born in India and founded NMC in the 1970s after moving to Abu Dhabi. His spokesman said a legal review of the situation is ongoing and declined further comment.

Chief Investment Officer Hani Buttikhi and board member Abdulrahman Basaddiq also stepped down because they were appointees of Shetty and Butti, NMC said, adding that they had no knowledge of the share transfers.

Questions remain over the role of Shetty’s family at the company. His wife and son-in-law both hold roles in senior management.

Almost 10 per cent of NMC’s freely traded shares are shorted, according to Markit Securities data. In mid-December about a third of them were.

Last week GKSD Investment, an investment company backed by hospital investors, said it’s studying a possible offer for NMC. Under U.K. takeover rules, it has until March 9 to make a bid.

NMC has said Muddy Waters’s claims are false and the company hired former FBI Director Louis Freeh to conduct an independent review. The review is due to be completed before the company issues its financial results in March, the person said.

NMC said Mark Tompkins will continue as the company’s sole chairman.

Mangaluru/Udupi, June 28: The coastal districts of Dakshina Kannada and Udupi have recorded 97 and 40 fresh coronavirus positive cases in last 24 hours. 

With the highest single day spike, the total covid-19 positive cases in Dakshina Kannada mounted to 665, among which 272 cases are now active.

So far 313 people have recovered and discharged from the hospitals. 13 covid-19 patients have passed away. Two among them have died due to non covid reasons. 

With the 40 fresh cases, Udupi’s total mounted to 1179, among which only 135 cases are active. 1042 people have recovered and discharged from the hospitals. Two people passed away.