The expatriates are beginning to feel the work of Prashant Manghat and Promoth Manghat, who was involved in a massive financial scandal in several banks from Dubai. Currently, about 300 people are out of work. Most of them are Malayalees. Prashant Manghat, a native of Nemmara, Palakkad, was the CEO of the NMC Business Empire, the largest hospital group in the Arab country. Prashant Manghat, who was in charge of the venture, was accused of embezzling $ 20250 crore worth of USD 2.7 billion worth of loans. Now a section of NMC Hospital Group has covered the latest news from Dubai. NMC Trading, the division that handles the distribution of medical equipment and personal care brands, was also worried when more than 300 staff members were sacked.
This is because of the tough financial issue and the actions of the banks and the courts. One of the largest corporations in the UAE, which employs more than 200,000 people, is also in trouble. The majority of them are Malayalees. Look at how many people are becoming dependent on Palakkad. Not only the UAE and its banks are suffering the devastation that a Malayalee has done and has caused. When I went to work in the Arab country and then somehow cropped up the assets of thousands of crores, it was the Arab people, the expatriates, and the banks of the UAE.
The banks have decided to sell the assets of NMC Hospital. A senior official of the program group said the bank will find the money by selling the assets and then transfer the remaining money to other liabilities. The NMC was brought under the jurisdiction of the UK High Court on April 9, following a request by the UAE bank ADCB. The UK Court of Appeals for Service Benefits for Sacked Employees. Moreover, there is a significant reduction of 30 to 50 percent of the present salary. All decisions come from the UK’s High Court. Because NMC Hospital Group is registered with the London Stock Exchange. As such, financial and other civil cases will be held in London. But at the same time, the criminal proceedings in this regard are going on in the UAE court.
Prashant Manghat from Palakkad, Kerala Dr. BR Shetty was the founder of NMC Hospital. Prashant Manghat came in as the CEO of the hospital group, and after that, there were serious financial irregularities. 99.9% of Malayalees go to the Gulf to earn money to work and live. But there are very few people who go to work and make big financial plunder in the Gulf. But when one out of every 1,000 people plunders the banks of the Arab country and drowns out of the Gulf, it is the Malayalee expatriates and Indian businessmen. Employment opportunities for non-resident Malayalees and even the possibility of a bank loan can be difficult. The bad people who are not to be trusted also fall on the Indians. However, it is learned that Prashant Mangat from Palakkad is now hiding in India.
The need for Prashant to return to the UAE and support the legal process and return the lost money or accounts to the banks arises from the expatriate community. If Atlas Ramachandran, a good-looking gold merchant, had returned the check, he would have paid a thousand times more money and financial mismanagement. Further implications for this in the coming days will be discussed in the United Arab Emirates. It is assumed that BR Shetty will be in the business sector and will face job losses, wages, and salaries. This is a serious mistake in the business conduct of a Malayalee.