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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, May 6: A seven-months pregnant woman fled Covid-19 hotspot Mumbai along with her family, and made it to her village 1000 km away in KR Pet taluka in Mandya district of Karnataka, flashing her mother's ID card at each checkpost. After reaching her destination, she got herself tested for Covid-19.

She tested positive for the virus on Monday in Mandya.

The 20-year-old woman (assigned the number P637) had been living with her husband and in-laws at Santa Cruz East, Agripada in Mumbai for the past three years. To get out of the containment zone, they started out from Mumbai at 7.30 pm on April 23 -- she, her husband, brother-in-law, co-sister and their children, and a 19-year-old girl. She made it past checkposts at Belagavi, Hubballi, Davanagere, Kadur, Arasikere, Channarayapatna and Shravanabelagola and reached her village Jaaginakere at 3 pm on April 24.

She stayed at her home in the village from 24 April to April 29. With the Mandya district administration testing people on a campaign mode in the entire district, she and her family got themselves tested on May 1.

Her test returned positive on May 4, according to deputy commissioner M V Venkatesh.

Along with her, the 19-year-old girl (P638) who travelled with the family also tested positive. The girl is in the sixth semester of her BE Electronics course at an engineering college in Mumbai.

This is not the first case of a corona fugitive from Mumbai. Earlier, a 50-year-old man who ran a hotel in Mumbai travelled in a vehicle carrying dates and reached Channarayapatna in Hassan district.

In fact there have been three such incidents, including that of seven people coming to Mandya from Mumbai transporting a dead man's body for cremation in his native village of B Kodagalli in Pandavapura taluk.

Mandya deputy commissioner Dr Venkatesh has appealed to natives of Mandya who are stuck in Mumbai to stay there till the Covid situation comes to control.

So far 28 people in Mandya diatrict have tested positive for Covid 19. Seven people have been discharged. Currently there are 21 active cases being treated at the Mandya Institute of Medical Sciences.

Bidar, Apr 2: Karnataka Health Minister B Sriramulu on Thursday confirmed that 11 people out of 27 in Bidar, who had participated in Tablighi Jamaat at Delhi's Nizamuddin Markat have been tested positive for COVID-19.

Speaking to news agency, Karnataka Health Minister said, "We are monitoring 362 people who had attended Nizamuddin Markaz in Delhi. Out of 27 people from Bidar who had attended, 11 have tested positive for COVID-19, while results of 16 others are awaited. Total positive cases in the state are 121."
Meanwhile, Tablighi Jamaat's Maulana Saad has stated that he will fully support the government in its fight against the coronavirus.

This comes soon after an FIR was registered against him in connection with the religious gathering organised in Markaz Nizamuddin area of the national capital.

A huge religious gathering was held at the Markaz building in Nizamuddin between March 13-15, the event came into the spotlight after multiple coronavirus cases were confirmed amongst those who attended the event held in mid-March.

An FIR has been registered against Tablighi Jamaat head Maulana Saad and others under the Epidemic Disease Act 1897 in Delhi.
A total of 2,361 people were brought out from the Markaz in a joint operation by authorities which lasted for over 36 hours, following which the South Delhi Municipal Corporation had carried out a sanitisation of the premises and nearby area.