BR Shetty seeks probe by CBI, ED into $6BN 'fraud' in his companies
New Delhi: UAE-based businessman BR Shetty has sought an investigation by central Indian agencies into what he termed a $6 billion fraud committed by former top executives of his companies in connivance with "unscrupulous" bankers.
The founder of hospital chain NMC Healthcare and UAE Exchange has sent a written complaint to the Central Bureau of Investigation and Enforcement Directorate, urging them to probe the alleged embezzlement, corruption, and laundering of money of his companies.
Shetty has alleged that his two former top executives, Prasanth and Promoth Manghat, connived with bankers, auditors and embezzled billions of dollars.
He has sent copies of the complaint to the Prime Minister and the Serious Fraud Investigation Office of the Ministry of Corporate Affairs.
Economic Times has seen a copy of the complaint.
The complaint is the outcome of a “painstaking” internal global probe by Shetty and warrants a thorough investigation by the central probe agencies, advocates Zulfiqar Memon of MZM Legal, and Nirvikar Singh, who represents Shetty was quoted as saying by Economic Times.
Prasanth and Promoth Manghat, who were former chief executives of NMC Healthcare and UAE Exchange’s holding company Finablr, respectively, could not be reached for comment. According to Shetty’s complaint, the whereabouts of the Manghat brothers were unknown.
The probe agencies have yet to take cognizance of Shetty’s complaint.
Shetty has approached the Indian authorities even as he is facing a probe in the UAE following the collapse of NMC Health, which went into administration for insolvency in April. According to reports, the UAE Central Bank had ordered the seizure of the assets of Shetty and his family, and the Dubai International Financial Centre courts had issued worldwide freezing of his assets.
In India, a court in May had barred Shetty and his wife from selling or transferring some properties till further orders, on a complaint by Bank of Baroda which is seeking to recover loans of more than $250 million from the businessman and his companies.
Shetty, who has blamed his former executives and lenders for the crisis, has named ten individuals and institutions in his complaint seeking criminal action against them.
Shetty has alleged that banks were prosecuting him in a bid to usurp his personal properties and suppress an internal investigation initiated by him.
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Strict security measures in place in Mumbai for Messi's events at 2 venues Dec 14, say police
Mumbai (PTI): In view of Argentine superstar footballer Lionel Messi's visit to Mumbai on Sunday, the city police are implementing stringent security measures, like not allowing water bottles, metals, coins inside the stadiums and setting up watchtowers to keep an eye on the crowd, officials said.
The police also said taking extra care to avoid any stampede-like situation and to prevent recurrence of the chaotic situation that unfolded in Kolkata during Messi's visit on Saturday as thousands of fans protested inside the Salt Lake stadium here after failing to catch a clear glimpse of the football icon despite paying hefty sums for tickets.
Messi is expected to be present at the Cricket Club of India (Brabourne Stadium) in Mumbai on Sunday for a Padel GOAT Cup event followed by attending a celebrity football match. He is expected to proceed to the Wankhede Stadium for the GOAT India Tour main event around 5 pm.
"In view of Lionel Messi's visit to Mumbai, the police are geared up and have put in place a high level of security arrangements in and around the stadiums located in south Mumbai. Considering the chaos that prevailed in Kolkata and the security breach, we have deployed World Cup-level security arrangements at Brabourne and Wankhede stadiums," an official said.
Expecting heavy crowd near the stadiums during Messi's visit, the city police force has deployed more than 2,000 of its personnel near and around both the venues, he said.
As the Mumbai police have the experience of security 'bandobast' during the victory parade of ICC World Cup-winning Indian team and World Cup final match at the Wankhede Stadium, in which over one lakh cricket fans had gathered, we are prepared to handle a large crowd of fans, he said.
"We are trying to avoid the errors that occurred in the past," the official said.
There is no place to sneak inside the stadiums in Mumbai like the Kolkata stadium, according to him.
The police are also asking the organisers to provide all the required facilities to the fans inside the stadium, so that there will be no chaos, he said, adding the spectators have purchased tickets in the range of Rs 5,000 to 25,000. After paying so much of amount, any spectator expects proper services, while enjoying the event, he said.
The police are expecting 33,000 spectators at the Wankhede Stadium and over 4,000 at Brabourne Stadium. Besides this, more than 30,000 people are expected outside and around the stadiums just to have a glimpse of the football sensation, he said.
The organisers responsible for Messi's India visit recently came to Mumbai to discuss security arrangements. During the meeting, the Mumbai police asked them not to take the event lightly, according to the official.
After those requirements were fulfilled, the final security deployment was chalked out, he said.
Police has the standard procedure of the security arrangements inside the Wankhede Stadium, where people are barred from taking water bottles, metals objects, coins. Police are setting up watch towers near the stadiums and there will be traffic diversions, so that there is maximum space available to stand, according to the official.
Police are also appealing to the spectators to use public transport service for commuting and avoid personal vehicles to reach south Mumbai.
To avoid any stampede-like situation, police are also taking precautionary measures and will stop the fans some distance ahead of the stadium and public announcement systems will be used to guide the crowd. Barricades will be placed at various places to manage the crowd.
In case the crowd swells up beyond expectation, the police will divert people to other grounds and preparations in this regard underway, he said.
Additional police force has been deployed in south Mumbai to tackle any kind of situation, he said.
