[splco_heading size=”15″ align=”left” margin=”30″]When the extradition of 9000 Cr odd monies bank scam fugitive takes lime light … in the same period Six times more than what Mallya that is 51000 Cr scam been executed by Indian billionaire but in UAE soil and then like Mallya he too flew away from Arab soil . Both belong to Karnataka State in India [/splco_heading]
While the investigation is on in UAE , Indian billionaire Shetty stands accused of hiding and misrepresenting a staggering debt of Rs 51,000 crore.
Like Mallya he also says he is determined to clear his name. Significantly, the statement he issued refers to Indian Prime Minister Narendra Modi and the royal family of Abu Dhabi for ‘forging a friendship’ and making him a part of it.
As Malaya expected UK court and its administrative system helps for his rescue Clearly the RSS principled man Indian billionaire Shetty expects Modi and the Abu Dhabi royal family to come for his rescue.
London’s Financial Times reported last week, “Abu Dhabi Commercial Bank, which is owed almost $1bn by NMC, has launched a criminal complaint against certain members of the group’s former senior management and some shareholders in Abu Dhabi.
This week Big Four firm EY was dragged into the scandal after the UK accounting watchdog announced an investigation into its 2018 audit of NMC.
Investors, including Norway’s $1tn sovereign wealth fund, US asset manager Capital Group and Hermes Investment, are furious they will probably be left empty-handed in any restructuring, said people familiar with the matter.”
Indian billionaire Shetty travails could not have come at a worse time for him. The past few weeks have seen a backlash in the UAE against Islamophobia in India and of Indians.
Old tweets and video clips of Vishwa Hindu Parishad leaders spewing venom against Muslims, videos of BJP MPs slighting Islam and Muslims in India, of Indian policemen beating up solitary Muslims have gone viral in the UAE.
The Government of India’s request to Twitter to take down the offensive tweets by some of the PM’s followers, including BJP MP Tejashwi Surya, do not seem sufficient to quell the rage.
But Shetty, who had till recently taken care to hide his RSS links, dropped all caution and in the past few years had flaunted his proximity to the Indian PM and RSS chief Mohan Bhagwat.
In recent interviews he disclosed that he had contested on a Jan Sangh ticket for a seat in the Udupi municipality way back in 1968.
He also claimed that Narendra Modi might have campaigned for him. After BJP swept to power in 2014, Shetty went all out to persuade the Abu Dhabi royal family to allow the construction of UAE’s only Hindu temple.
His proximity to the Indian Prime Minister might have helped and the royal family donated 13 hectares of land for the temple, prayer rooms, auditorium, exhibition halls, food court and the parking lot to a Trust of the Swaminarayan sect.
However the fate of the temple, the foundation stone of which was laid by the Indian Prime Minister last year and which is expected to be completed in 2022, hangs in balance following the pandemic, the strains caused by Islamophobia and BR Shetty’s financial scandals.
In the closed-door meeting during 2019 , he claimed Indian billionaire Shetty told PM Modi that his Group would make an investment of US$5 billion in ‘New India’.
It would be his modest contribution to achieve the PM’s vision of a US$5-trillion economy, he added, prompting the PM to say he trusted Shetty.
The businessman, who had once boasted that he would produce the costliest film in Bollywood at an investment of Rs 1,000 crore, also offered to set up a film city in Kashmir.
Shetty, also promised to set up super speciality hospitals in tier 2 and tier 3 cities and invest in education, agro-processing and tourism in Jammu & Kashmir.
This made the Indian PM Narendra Modi to say “I trust every word spoken by Dr Shetty,” at a closed-door meeting with businessmen of Indian origin in Abu Dhabi in October, 2019.
To Mallya what banks in India done the same act the centre bank of UAE does that is freeze of the bank accounts in UAE of Indian billionaire Shetty . The moment the extradition request for Shetty pops up from UAE authorities for his fraudulent ways then the similarities between the twin appear to merge in a single focus point