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
November 30,2025

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Udupi: The pontiffs of Sri Paryaya Puttige Mutt, the sacred seat of Jagadguru Shrimad Madhvacharya Moola Samsthanam, have submitted a proposal to the Prime Minister seeking comprehensive development for Udupi district. 

Proposal for International Airport

A key request is the establishment of an international airport. Highlighting that around 1,000 acres of land are available and suitable, the pontiffs noted that the existing Mangalore Airport provides limited international connectivity. They suggested the airport be developed under a Public-Private Partnership (PPP) or as a Greenfield Airport to boost trade, education, healthcare, and spiritual tourism.

Metro and Rapid Transit Connectivity

The proposal also calls for Metro Rail or Rapid Transit between Mangaluru and Udupi. The 55 km coastal stretch experiences heavy daily commuter traffic, causing congestion. The district administration is ready to prepare an initial project report for a Mass Rapid Transit corridor and requested inclusion under national urban mobility programmes to ensure safe, green, and time-efficient regional transport.

Port and Coastal Development

The pontiffs urged the development of an international-standard port with a cruise terminal along Udupi’s coast. They also requested fast-tracking of pending coastal tourism projects and revising Coastal Regulation Zone (CRZ) norms to encourage sustainable infrastructure and hospitality investment.

IT, AI and Technological Infrastructure

Support was sought for an IT and AI Innovation Park with incubation facilities under Digital India and Startup India initiatives. The proposal also emphasized the need for strengthened data security and cloud computing infrastructure to boost India’s technological independence.

Sports and Education Initiatives

The pontiffs requested national sports status for Kambala, along with financial and infrastructure support. They also sought the establishment of an AIIMS in Udupi, a new IIT campus, and approval for an IIM to promote higher education in the district.

Representation to the Prime Minister

Sri Sugunendra Tirtha Pontiff and Sri Sushrendra Tirtha Swamiji represented the pontiffs in submitting the comprehensive development proposal to the Prime Minister during his recent visit.

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News Network
November 29,2025

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New Delhi: Karnataka chief minister Siddaramaiah and deputy CM DK Shivakumar on Saturday put up a dramatic display of unity at a closely watched joint press briefing, firmly dismissing weeks of speculation about a power-sharing tussle within the Congress. With the high command nudging both leaders to sit together and settle the dust, the meeting became a political spectacle, ending with the duo declaring that there was “no confusion, no differences.”

Calling the reports of a rift “manufactured confusion,” Siddaramaiah said the talks had gone smoothly, even joking about their breakfast. “Breakfast was very good. All three of us enjoyed it,” he said. “We want to end this confusion once and for all. For local elections and for 2028, our mission is clear — Congress must return to power. There is no difference between me and DKS, not now, not before.”

He blamed the media for fuelling rumours and reiterated absolute adherence to the party leadership. “From tomorrow, let there be no confusion. What the high command says, we will follow.”

Siddaramaiah also assured that the Assembly session starting December 8 would run smoothly and vowed that Congress would take on the BJP and JD(S) “together.”

Shivakumar echoed the chief minister word for word, stressing loyalty and discipline. “People have given us a massive mandate. It is our duty to deliver,” he said. “This government was formed under Siddaramaiah’s leadership. We both have complete trust in the high command. If they tell me to wait, I will wait.”

He added that the two leaders had discussed strategy for the 2028 Assembly elections. “Whatever the CM says, I agree. We are loyal soldiers of the party. The party may be facing challenges nationally, but we will keep it strong in Karnataka.”

Shivakumar also said Siddaramaiah would soon visit his home for lunch or dinner — another symbolic gesture meant to underline their unity.

Both leaders later posted on social media describing the breakfast meeting as “productive” and focused on “Karnataka’s priorities.”

The BJP, however, rejected the show of camaraderie as “pure bunkum,” accusing Congress of trying to paper over an internal power struggle. But Siddaramaiah and Shivakumar insisted their united front would continue — and that there was “no confusion” within the state leadership.

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News Network
December 2,2025

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Bengaluru: 'Nati koli saaru' (country chicken curry) considered one of Chief Minister Siddaramaiah’s favourites along with steaming hot idlis was on the breakfast menu at Deputy CM D K Shivakumar’s residence on Tuesday, according to official sources.

The spread also included 'nati koli' fry, vada and pongal, among other items, they said.

In an apparent show of unity, Siddaramaiah visited Shivakumar’s residence for breakfast, just days after the two leaders shared a meal amid a simmering power tussle in the state Congress.

Siddaramaiah drove to the Deputy CM’s residence in Sadashivanagar, where he was received by Shivakumar and his brother D K Suresh, who is a former Congress MP.

Suresh and Kunigal MLA H D Ranganath, a relative of Shivakumar, joined them for breakfast, which featured a mix of vegetarian and non-vegetarian dishes.

Speaking to reporters later, Siddaramaiah said Shivakumar had invited him during his visit to the CM’s residence for breakfast on Saturday.

Asked about the difference between the two meals, the chief minister said, "At his (Shivakumar’s) house it was non-veg, while at my house it was veg. He is a vegetarian, I am a non-vegetarian. I had not prepared non-veg. I told DK to get chicken from the village as you won’t get the original in Bengaluru."

Shivakumar said he had initially invited Siddaramaiah to his residence, but the CM had suggested visiting his place first and reciprocating later. "It was a vegetarian breakfast at the CM’s house on Saturday," he noted.

"Today, I invited him (the CM) to my house. He enjoyed the breakfast, which had his Mysuru taste," Shivakumar added. At this point, Siddaramaiah remarked that Shivakumar’s wife is also from Mysuru.

Saturday’s breakfast at Siddaramaiah’s official residence, held as part of efforts by the Congress high command to ease tensions in the leadership dispute between the two, reportedly included idlis and sambar, according to official sources.

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