NMC Health fires B.R. Shetty’s wife


gulfnews, 25-09-2020 13:25:57


Write Comment     |     E-Mail To a Friend     |     Facebook     |     Twitter     |     Print


Abu Dhabi NMC Health removes all links with founder B.R. Shetty

Dr. Chandrakumari Shetty was group medical director and was NMC’s first employee

Dubai: Abu Dhabi’s NMC Healthcare has cut the final link to its founder Dr. B.R. Shetty - by terminating the employment of his wife, Dr. Chandrakumari Shetty, as group medical director. As such, her role was becoming untenable after multiple investigations revealed gross financial misdoings in recent years, when B.R. Shetty was executive and, later, non-executive chairman.

Incidentally, Dr. Chandrakumari was NMC’s first employee since its founding in the mid-1970s. At the time of her termination, she was earning a monthly salary in excess of Dh200,000. She and B.R. shety are currently in India. 

In a statement to Gulf News, Michael Davis, CEO of NMC Health, “Dr. C.R. Shetty previously served as the medical director for NMC Healthcare, but was not involved in the financial dealings of the company. The last salary was paid in February. As of March, she is no longer active in her role.”

‘There were negotiations’

According to a source in the local banking industry, “Given all the changes NMC has brought about in its structure since March, a termination would have happened at the earliest,” said a source in the healthcare industry. “No organisation, especially one placed under administration, can afford to pay Dh200,000 to someone who was not “working” in any capacity all these months.

“There were negotiations going on with Dr. Chandrakumari for her to step down voluntarily. I don’t think those worked. Being the founder’s wife or the first ever employee don’t matter at this point.”

According to Davis, “All the administrative issues surrounding her exit are in process.” The CEO was obviously referring to the gratuity payments and related matters.

A crucial phase

Coming up for NMC will be crucial weeks and months, with NMC Health declared as bankrupt under the rules of Abu Dhabi Global Market. What will emerge will be stripped down entity built around a portfolio of hospitals and allied assets such as speciality clinics. Banking sources say this bankruptcy declaration could happen in a matter of days.

Divisions such as NMC Trading have already been pared down, with licenses to some key health and skincare brands being divested to other local businesses.

Pursuing the lost billions

Banking sources say more clarity will still be needed on pursuing those who systematically diverted $4 billion in bank loans from NMC – without any of these even showing on the books – to accounts outside of the country. And establishing the level of guilt associated with each of the perpetrators.

Write your Comments on this Article
Your Name
Native Place / Place of Residence
Your E-mail
Your Comment   You have characters left.
Security Validation
Enter the characters in the image above
    
Disclaimer: Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Kemmannu.com will not be responsible for any defamatory message posted under this article.
Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on kemmannu.com to provide the IP address and other details of senders of such comments, to the authority concerned upon request. Hence, sending offensive comments using kemmannu.com will be purely at your own risk, and in no way will Kemmannu.com be held responsible.
Similarly, Kemmannu.com reserves the right to edit / block / delete the messages without notice any content received from readers.




Mangalorean Teen Feryl Rodrigues Shines as May Que
View More

Final Journey of Mrs. Severine Pais (85 years) | LIVE from Milagres, Kallianpur, UdupiFinal Journey of Mrs. Severine Pais (85 years) | LIVE from Milagres, Kallianpur, Udupi
Final Journey of Mrs Lennie Saldanha (89 years) | LIVE from Kemmannu | UdupiFinal Journey of Mrs Lennie Saldanha (89 years) | LIVE from Kemmannu | Udupi
Final Journey of Zita Lewis (77 years) | LIVE from Kallianpur, UdupiFinal Journey of Zita Lewis (77 years) | LIVE from Kallianpur, Udupi
Final Journey of Henry Andrade (83 years) | LIVE from KemmannuFinal Journey of Henry Andrade (83 years) | LIVE from Kemmannu
Final Journey of Mr. Leo Britto (65 years) | LIVE from Mother of Sorrows Church, UdupiFinal Journey of Mr. Leo Britto (65 years) | LIVE from Mother of Sorrows Church, Udupi
Mount Rosary Church - Rozaricho Gaanch May 2025 IssueMount Rosary Church - Rozaricho Gaanch May 2025 Issue
Final Journey of Juliana Machado (93 years) | LIVE from Udyavara | UdupiFinal Journey of Juliana Machado (93 years) | LIVE from Udyavara | Udupi
Final Journey of Charles Pereira (78 years) | LIVE from KemmannuFinal Journey of Charles Pereira (78 years) | LIVE from Kemmannu
Milarchi Laram, Milagres Cathedral, Kallianpur, Diocese of Udupi, Bulletin - April 2025Milarchi Laram, Milagres Cathedral, Kallianpur, Diocese of Udupi, Bulletin - April 2025
Holy Saturday | St. Theresa Church, KemmannuHoly Saturday | St. Theresa Church, Kemmannu
Final Journey of Albert Lewis (85years) | LIVE From St Theresa’s Church Kemmannu | UdupiFinal Journey of Albert Lewis (85years) | LIVE From St Theresa’s Church Kemmannu | Udupi
Final Journey of Bernard G D’Souza | LIVE from MoodubelleFinal Journey of Bernard G D’Souza | LIVE from Moodubelle
Earth Angels Kemmannu Unite: Supporting Asha Fernandes on Women’s DayEarth Angels Kemmannu Unite: Supporting Asha Fernandes on Women’s Day
Final Journey of Joseph Peter Fernandes (64 years) | LIVE From Milagres, Kallianpur, UdupiFinal Journey of Joseph Peter Fernandes (64 years) | LIVE From Milagres, Kallianpur, Udupi
Milagres Cathedral, Kallianpur, Udupi - Parish Bulletin - January 2025 IssueMilagres Cathedral, Kallianpur, Udupi - Parish Bulletin - January 2025 Issue
Rozaricho Gaanch 2024 December Issue - Mount Rosary Church, SanthekatteRozaricho Gaanch 2024 December Issue - Mount Rosary Church, Santhekatte
Land/Houses for Sale in Kaup, Manipal, Kallianpur, Santhekatte, Uppor, Nejar, Kemmannu, Malpe, Ambalpady.Land/Houses  for Sale in Kaup, Manipal, Kallianpur, Santhekatte, Uppor, Nejar, Kemmannu, Malpe, Ambalpady.
Naturya - Taste of Namma Udupi - Order NOWNaturya - Taste of Namma Udupi - Order NOW
Focus Studio, Near Hotel Kidiyoor, UdupiFocus Studio, Near Hotel Kidiyoor, Udupi