NMC mess implies London needs fiercer watchdogs dasha_reuters Unmack1
Gulf hospital operator NMC Health on Feb. 26 said it removed Prasanth Manghat from the role of chief executive after an investigation identified problems with its financial disclosures.
It said supply-chain financing arrangements that were entered into by the company and “which are understood to have been used” by entities controlled by founder B.R. Shetty and former Vice Chairman Khaleefa Butti Omair Yousif Ahmed Al Muhairi without the approval of the board. NMC also said it had suspended a member of its treasury team over possible discrepancies in its bank statements and ledger entries, and said it would be unable to publish its annual results till at least the end of April.
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