Sisodia, over 60 AAP MLAs detained on their way to Modi's resident

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."

Mysuru, Mar 6: A woman was murdered by her husband in front of her father in the wee hours of Friday at her home in Hosakamanakoppal, Yelwal hobli here, police said on Friday.

The police said the deceased is Mamatha, a native of Periyapatna who was married to Nagesh of Hosakamanakoppal about seven years ago. The couple has a six-year-old son. Mamatha was Nagesh’s second wife as his first wife had allegedly committed suicide.

It is said that Nagesh was addicted to liquor and gambling and used to fight with Mamatha over petty reasons. 

Yesterday night too, there was a fight between the couple and Mamatha’s father pacified both of them and all of them went to sleep later.

Mangaluru, Jul 18: Days after Air India operated a flight from Qatar to Mangaluru,  the Karnataka Cultural Foundation (KCF) chartered a flight from Doha to this coastal city to repatriate the stranded NRIs. The flight landed at Mangaluru International Airport on July 16.

This KCF operated flight left the Hamad International Airport Doha at 9:35 am and reached Mangaluru international Airport at 16:10 pm on Thursday. 

The flight had over 174 NRIs, included pregnant women, patients in need of urgent medical treatment, senior citizens, and those who were stuck with expired visit visa and job loss. With the timely intervention Dr Arathi Krishna has helped a patient to make his approval from embassy, who had to leave for medical treatment on emergency basis.

Starting from the registration of travellers, KCF has provided all with the necessary documental, health-related information and each of them have been met by KCF representatives along with snacks and PPE kit to be worn during the journey as a precaution against the spread of the pandemic. 

Organization workers were constantly in touch with each of its passengers, supporting them for their safety and serve them during journey and stay at the hotels and this will continue until the quarantine is completed.

KCF, the proud organization of Kannadigas has been working in the public sphere, and this initiative of charter flight and their dedication on this have been praised by travellers.

On their successful charter, KCF thanks Dr Arathi Krishna, former vice-chairman of Karnataka State NRI Forum for her extensive support on acquiring relevant documental clearances. Sindhu B Rupesh, the deputy commissioner of Mangaluru, Dr Yathish Ullal, assistant commissioner of Mangaluru, Meena Nagaraj, the nodal officer, Bengaluru, are also praised for their timely approvals and permissions for this charter.

The untiring efforts, hard works by the workers and leaders of SSF, SYS and Karnataka Muslim Jama-ath have been appreciated and background supports by Moulana Shafi Sa-adi, the member of Karnataka state Waqf Board is also remembered by KCF Qatar.

The members of KCF Qatar have been tirelessly working behind this grand success, the chairman Abdul Raheem Saadi and general convener Muneer Magundi have thanked all its members, including Embassy officials and Indigo Airlines for all cooperation.