VHP leader Ashok Singhal dies at 89

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."

Bengaluru, June 23: A frustrated chartered accountant has committed suicide after killing his wife and mother-in-law in two different cities of India.

The murder-murder-suicide came amid acrimonious divorce proceedings that might have also involved a property dispute, police said.

Amit flew to Bengaluru last weekend to kill his estranged wife at her Whitefield residence before returning to Kolkata, where he shot dead his mother-in-law and then killed himself at an upscale residential complex in North Kolkata on Monday evening.

Amit and his wife Shilpi Agarwal, who is also a CA, had been living separately since last the two years after their marriage turned sour.

Amit took his 10-year-old son from Bengaluru with him on Monday and dropped him at his uncle’s house before heading to his in-laws’ place Phoolbagan, police said.

Neighbours told cops they heard arguments “appeared to be” over some property documents that Amit wanted his in-laws — 70-year-old Subhas and 62-year-old Lalita Dhandhania — to sign.

The first gunshot was heard a little before 6.30pm, following which Subhas ran out of his flat, bolted the door from outside and took refuge inside his next-door neighbour’s apartment. Police arrived a few minutes later to find Amit and his mother-in-law dead. Police found a suicide note from the flat.

New Delhi: BJP leader Yogish Gowda, who was a member of the Dharwad Zilla Panchayath in Karnataka, was killed because of "political reasons", the CBI has alleged in its charge sheet filed against eight accused before a Dharwad court, officials said on Thursday.

Mr Gowda was killed on June 15, 2016 in front of a gym in Dharwad.

The charge sheet was filed before the Judicial Magistrate First Class Court in Dharwad against Santosh Savadatti, Dinesh M, Sunil KS, Harshith, Aswath S, Nazeer Ahamad, Shanawaz and Nutan K. All but one are in judicial custody.

"The accused allegedly came to Dharwad on two occasions in June 2016 and with the support of the other accused, allegedly planned the murder of Yogish Gowda. These accused fled after the crime," CBI spokesperson RK Gaur said.

The agency has alleged that the killing had "political reasons" behind it and was a result of political rivalry, the officials said.

The agency had taken over the case on September 24, 2019, nearly three years after the murder, on the request of the BJP government in Karnataka and a referral from the centre.

The case was earlier probed by the Karnataka Police which had charged six people for allegedly planning and executing the killing.

The CBI has arrested eight accused in the case of which seven are in judicial custody, they said.

"Further investigation into the role of the other accused and larger conspiracy in this case is continuing on a day-to-day basis," Mr Gaur said.

BJP leader murder caseYogish GowdaCentral Bureau of Investigation (CBI)