SevenHills Hospital goes to NRI tycoon B R Shetty

coastaldigest.com web desk
October 18, 2018

Mumbai, Oct 18: NRI tycoon B R Shetty’s BR Life—the largest private healthcare company in the UAE—has won the sale bid of the debt-ridden Seven-Hills Hospital in Marol by virtue of being the sole bidder. The bidding amount has not be revealed by both the parties.

With an estimated debt of Rs 1,270 crore, SevenHills went under the hammer this year after lenders led by Axis Bank and a State Bank of India consortium initiated insolvency proceedings against the chain founded by Dr Jitendra Maganti, who is also its managing director.

In Mumbai, SevenHills was built with a public-private partnership of nearly Rs 1,000-crore investment that failed to take off, with the municipal corporation suing the 1,000-bed hospital for non-compliance of the memorandum of understanding.

In the deal, Jitendra Das Maganti, founder and managing director, also lost his Visakhapatnam hospital and a bungalow in Hyderabad, which had been mortgaged against various bank loans. High-level sources said since the National Company Law Tribunal (NCLT) took up the insolvency case, Maganti has not been seen at the Marol hospital.

According to sources, Nita Ambani led Reliance Foundation was among the 15 entities which had submitted ‘expression of interest’ documents to purchase the hospital. They had predicted the base price would be around Rs 2,100 crore.

The BRS group not only turned out to be the sole bidder but also quoted a low price. Sources said Reliance Foundation bowed out of the race owing to differences with the BMC, which owns the 17-acre plot on which the hospital has been built.

Owing to the low bid, the Hyderabad bench of the NCLT has granted a three month extension till December to complete the corporate insolvency resolution process. Hospital authorities say this period will allow the tribunal-appointed interim resolution professional to negotiate a higher sale price with the BRS group as well as ask other bidders to come forward.

Sources, however, said the deal is as good as done, as a team from BR Life has been paying regular visits to the hospital to medical equipment vendors and suppliers as well as doctors to get an estimate of the pending dues. The Abu Dhabi-based healthcare provider plans to reopen the hospital next year. BMC officials said the dues of banks, hospital employees and vendors stand at Rs 2,100 crore.

Born in undivided Dakshina Kannada district in 1942, Shetty emerged as a business tycoon after he moved to the UAE in 1973. He was awarded the Padmashree in 2009 for his contribution in the field of trade and industry, and the ‘Order of Abu Dhabi’, the highest civilian honour bestowed by the Abu Dhabi government, in 2005.

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News Network
December 15,2025

Mangaluru, Dec 15: Air India Express has announced that it will resume direct flight services between Mangaluru and Muscat from March 2026, restoring an important international air link for passengers from the coastal region.

Airport authorities said the service will operate twice a week—on Sundays and Tuesdays—from March 1. The initial flights are scheduled on March 3, 8 and 10, followed by March 15 and 17, with the same operating pattern to continue thereafter. The flight duration is approximately three hours and 25 minutes.

The Mangaluru–Muscat route was earlier operated under the 2025 summer schedule, with services beginning on July 14. At that time, Air India Express had operated four flights a week before suspending the service.

Officials said the summer schedule will come into effect from March 29, after which changes in flight timings and departure schedules from Mangaluru are expected. Passengers have been advised to check the latest schedules while planning their travel.

The resumption of direct flights to Muscat is expected to significantly benefit expatriates, business travellers and others, further strengthening Mangaluru’s air connectivity with the Gulf region.

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News Network
December 7,2025

SHRIMP.jpg

Mangaluru, Dec 7: A rare bamboo shrimp has been rediscovered on mainland India more than 70 years after it was last reported, confirming for the first time the presence of Atyopsis spinipes in the country. The find was made by researchers from the Centre for Climate Change Studies at Sathyabama Institute of Science and Technology, Chennai, during surveys in Karnataka and Odisha.

The team — shrimp expert Dr S Prakash, PhD scholar K Kunjulakshmi, and Mangaluru-based researcher Maclean Antony Santos — combined field surveys, ecological assessments and DNA analysis to identify the elusive species. Their findings, published in Zootaxa, resolve decades of taxonomic confusion stemming from a 1951 report that misidentified the species as Atyopsis moluccensis without strong evidence.

The shrimp has now been confirmed at two locations: the Mulki–Pavanje estuary near Mangaluru and the Kuakhai River in Bhubaneswar. Historical specimens from the Andaman Islands, previously labelled as A. moluccensis, were also found to be misidentified and actually belong to A. spinipes.

The rediscovery began after an aquarium hobbyist in Odisha spotted a shrimp in 2022, prompting systematic surveys across Udupi, Karwar and Mangaluru. Four female specimens were collected in Mulki and one in Odisha, all genetically matching.

Researchers warn the species may exist in very small, vulnerable populations as freshwater habitats face increasing pressure from pollution, sand mining and infrastructure development. All verified specimens have been deposited with the Zoological Survey of India for future reference.

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News Network
December 15,2025

Mangaluru, Dec 15: Educational institutions in Mangaluru that rely on the popular Mangala Stadium for their annual sports events are bracing for an inconvenience as the city's key sporting venue is set to close its gates for a significant upgrade. The stadium is expected to be unavailable for approximately two months starting from January 15, 2026.

The closure is necessitated by a proposed overhaul of the stadium's facilities, with a special focus on upgrading the synthetic track. Pradeep Dsouza, Assistant Director of the District of Youth Empowerment and Sports (DYES), Dakshina Kannada, confirmed the development.

"Experts have visited the stadium, conducted a thorough inspection, and have given the go-ahead for a complete makeover," Dsouza stated. "Funds have been allocated for the project, and we are currently awaiting the final green signal from state officials to commence the work. We anticipate that the work will likely begin in the second week of January. Consequently, we have stopped renting out the stadium to colleges and other organizations in preparation for the upgrade."

The timing presents a logistical challenge for colleges, as many schools have already concluded their sports meets.

"Colleges will now be organizing their events and will need to find alternative locations to host their sports meets," Dsouza added. He suggested a few potential venues, including the Dakshina Kannada police ground, University College grounds, Panambur grounds, Swaraj Maidan in Moodbidri, and the Mangalore University sports grounds in Konaje.

However, many institutions note that finding a comparable venue will be difficult. While the DK police ground and University College grounds are closer to the city center, they do not possess the extensive facilities and infrastructure offered by Mangala Stadium.

Dr. P Dayananda Pai - P Satisha Govt First Grade College, Carstreet, is one such institution dependent on the stadium. Principal Jayakar Bhandary expressed hope for a swift completion of the work. "We expect the work to be completed at the earliest. If not, we will be forced to look for other venues to host the sports day for our students," Bhandary said, highlighting the pressing need for the city's main sporting facility.

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