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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.

Newsroom, Feb 21: Chief Minister B S Yediyurappa has claimed that Amulya Leona, who raised pro-Pakistan slogans at a pro-India event in Bengaluru, had links with Naxalites.

The 19-year-old B.A. student was arrested on sedition charge after she raised pro-Pakistan slogans at a peaceful protest against the Citizenship (Amendment) Act in Bengaluru yesterday.

"Bail should not be given to Amulya. Her father has also said he won't protect her. It’s proved now that she had contacts with Naxals. Proper punishment should be given," Yediyurappa said in Mysuru today.

All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi, who snatched mike from Amulya’s hand, said that her slogans only helped Bharatiya Janata Party and those who are trying to suppress people’s movement against racism and communalism.

Interestingly, Amulya hails from a family which has close association with Sangh Parivar. Her father Wazi Noronha was a leader of minority of wing of BJP in Koppa taluk of Chikkamagaluru district.

He had worked in support of hardline BJP leader and Udupi-Chickmagaluru MP Shobha Karandlaje, and D N Jeevaraj, who had represented Sringeri constituency last time.

Meanwhile, a group of people attacked the house of Wazi at Gullagadde near Koppa last night. A group of Bajrang Dal activists also compelled him to shout ‘Bharat Mata ki Jai’.

Also Read: Mangaluru: VHP stages protest against ex-BJP leader’s daughter who raised pro-Pak slogans