Banks asked to search and seize B R Shetty’s accounts in UAE

News Network
April 26, 2020

Dubai, Apr 26: The Central Bank of the UAE (CBUAE) has instructed financial institutions in the country to search and freeze all bank accounts of Indian billionaire BR Shetty and his family along with those of companies where he has a stake.

The apex bank has also blacklisted several firms associated with Shetty along with their entire senior management.

In an advisory issued last week, CBUAE cited decisions of the Federal Attorney General and asked financial institutions to search and freeze any bank accounts, deposits or investments in the name of Shetty or his family members.

Financial institutions have been directed to stop transfers from these accounts and deny access to deposit boxes.

Currently in India and facing a string of charges, Shetty is the founder of NMC Health.

The heathcare provider was placed into administration by a UK court recently following an application by the Abu Dhabi Commercial Bank (ADCB) which alone has an exposure of $981 million (Dh3.6 billion).

Overall, UAE banks have a combined exposure of more than Dh8bn to NMC which owes money to Oman-based banks and financial institutions as well.

Probing credit facilities
The Central Bank has sought information about credit facilites extended to the Shettys along with details of their safe deposit boxes and the financial transfers they have made till date.

A similar advisory has been issued for NMC Healthcare and NMC Holding, based on the decision of the Head of Plenary Fund Prosecution.

The Central Bank has also blacklisted several companies associated with Shetty. Key staff members of these firms have been similarly blacklisted.

Comments

Angry Indian
 - 
Monday, 27 Apr 2020

when you make money with good country you should not make doka to that country, first of all we indian have bad name in GCC now this will make more dought on indian hindus..

 

after BJP come to power in india,our country is acting like maron, this will only end with final WAR.

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News Network
October 2,2024

truepromise.jpg

Sirens sounded all over the occupied territories on Tuesday night as Iran launched hundreds of missiles towards the Zionist entity, in a retaliatory attack dubbed Operation True Promise II. 

Meanwhile, Israeli officials have promised to respond after Iran fired a barrage of ballistic missiles at key military and security targets in Israel.

Flares and missiles were seen in the Tel Aviv sky and explosions could be heard in the occupied al-Quds, sending Zionist settlers fleeing into shelters.

The Israel Airports Authority said that no aircraft will be allowed to take off or arrive at all Israeli airports. Israeli newspaper Haaretz reported “direct hits” in Negev, Sharon and other locations from Iran’s attack.

The Islamic Revolution Guards Corps (IRGC) issued a statement shortly after the missile attack began.

It said in response to the martyrdom of Hamas chief Ismail Haniyah, Hezbollah leader Sayyed Hassan Nasrallah, and IRGC commander Abbas Nilforoushan, the IRGC Aerospace Force launched dozens of ballistic missiles targeting key military and intelligence bases in the heart of the occupied territories.

The IRGC further said that the attack was in line with the country’s right to legitimate self-defense as per the United Nations Charter, and in response to the regime's escalating crimes—backed by the United States—against the people of Lebanon and Gaza.

The Zionist regime will face more crushing attacks in case it reacts to Iran’s operation, the IRGC added.

In a follow-up statement, the IRGC said three Israeli military bases in Tel Aviv were hit during the operation.

In this operation, a number of air and radar bases, as well as centers for conspiracy and assassination planning against resistance leaders and IRGC commanders were targeted, the statement said.

The IRGC noted that even though the designated areas were shielded by advanced defense systems, 90% of the missiles shot successfully hit their targets.

“The Zionist regime has been terrified by the intelligence and operational dominance of the Islamic Republic,” it added.

The Iranian mission to the United Nations said in a statement that the missile attack was a “legal, rational, and legitimate” response to the terrorist acts of the Zionist regime.

It also warned the Israeli regime that a more “crushing” response would ensue should it dare to respond or commit further acts of malevolence.

Celebratory gunfire erupted in southern Beirut, where Hezbollah chief Nasrallah was killed in a massive Israeli airstrike last week, following Iran’s retaliatory attack.

“Heavy gunfire heard from automatic weapons from areas of the southern suburbs, rejoicing in the missile launch from Iran towards Israel,” Lebanon’s National News Agency said.

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News Network
October 2,2024

The Ministry of External Affairs (MEA) has issued a travel advisory for Indian citizens in light of the escalating tensions in the Middle East, specifically advising against non-essential travel to Iran.

"We are closely monitoring the recent escalation in the security situation in the region. Indian nationals are advised to avoid all non-essential travel to Iran. Those currently residing in Iran are requested to remain vigilant and stay in contact with the Indian Embassy in Tehran," the Ministry of External Affairs said.

For those already residing in the country, the MEA advised vigilance and recommended staying in close contact with the Indian Embassy in Tehran for any assistance. The situation continues to be under observation as tensions in the region unfold.

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News Network
October 2,2024

The Ministry of External Affairs (MEA) has issued a travel advisory for Indian citizens in light of the escalating tensions in the Middle East, specifically advising against non-essential travel to Iran.

"We are closely monitoring the recent escalation in the security situation in the region. Indian nationals are advised to avoid all non-essential travel to Iran. Those currently residing in Iran are requested to remain vigilant and stay in contact with the Indian Embassy in Tehran," the Ministry of External Affairs said.

For those already residing in the country, the MEA advised vigilance and recommended staying in close contact with the Indian Embassy in Tehran for any assistance. The situation continues to be under observation as tensions in the region unfold.

Comments

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