‘Secular alliance a must to defeat fascism in India’

Mangaluru, Jun 2: The Karnataka Muzarai department, whose main income comes through temple and other religious places of worship, has incurred a loss of Rs 600 Crore in revenue during the lock-down, Minister for Muzrai Kota Srinivas Poojary said on Monday.

Addressing reporters here, he said the Kollur Sri Mookambika temple alone lost revenue of about Rs 14 crore it was earning during April and May.

Around 300 A and B grade temples under Muzrai (Hindu religious institutions and charitable endowments) department in the State lost around 35 per cent of their annual income, he said.

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.

Bengaluru, Apr 9: A special task force--set up by the government of Karnataka--submitted a report to the Chief Minister of Karnataka BS Yediyurappa, putting forward recommendations suggesting minimisation of restrictions in districts where there is nil or minimum cases, here on Wednesday.

The committee said: "COVID-19 and non-COVID-19 patients should be segregated and online health services should be encouraged. Restrictions should be minimised in districts where there is nil or minimum cases of COVID-19 and lockdown should be continued in hotspot areas with quarantine measures strictly being implemented."

With regards to the testing of likely patient, the committee informed that rapid test kits would help to quarantine more likely patient. "The rapid test kits will arrive in April 12. These kits will boost our facility and would help us in quarantining the more people."

On the subject of lifting transportation ban, the committee suggested that the transport of goods and services must continue but with regards to passenger carriers, they are suspended till April 30.

"Goods and Transportation should be allowed, but passenger carriers should be banned until further orders. No buses, trains nor flights will be plying till April 30. No metro trains and auto-rickshaws should be allowed and an odd-even system transport system should be implemented," the committee added.

The committee also suggested that all industries, IT, BT and Garments should be made to work on 50 per cent strength. Garments workers should be allowed to stitch PPEs, which are in more demand. And for construction workers, the committee suggested that they should be allowed to work at sites at 50 per cent strength.

They suggested that educational institutions remain closed till May 30 and online classes must be encouraged.

Dr. Devi Shetty heads the Taskforce and Dr. C. N. Majunath, Dr. Nagaraj, Dr. Ravi and Sudharshan were also the part of the committee.

According to the Ministry of health and family welfare, 181 cases have been reported in the state so far. A total of 5,734 positive cases have been reported of which, 166 are dead and 473 are cured/discharged and migrated.