Gang war in Mangaluru jail; 4 cops, 10 inmates injured

New Delhi, Feb 2: Budget 2020 announcement that insurance behemoth LIC will be listed was well received by market participants who said this will be "IPO of the decade" akin to the Saudi Aramco listing.

Finance Minister Nirmala Sitharaman on Saturday said Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative.

A "highlight of the budget is the LIC IPO, which is akin to the Saudi Aramco listing for Indian capital markets, and will be IPO of the decade," Vijay Bhushan, President, Association of National Exchanges Members of India (ANMI) said.

According to Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, the LIC IPO will be a big positive for corporate governance and transparency and will open up one more avenue for fund raising for the government over the years.

Metropolitan Stock Exchange, Interim CEO, Balu Nair said: "The LIC listing will be eagerly awaited by investors and will provide huge fillip to capital raising through the primary market." The government proposes to sell a part of its holding in LIC through an initial public offer, Sitharaman said while presenting Budget 2020-21.

"The government will sell part of LIC through its listing in the stock market which is also a positive trigger for the market," Amit Gupta, CO-Founder and CEO, TradingBells.

Jaideep Hansraj, MD and CEO of Kotak Securities said listing of LIC would help bridge a gap in the Fiscal Deficit for FY21.

Currently, the government owns the entire 100 per cent stake in LIC.

Saudi Aramco shares were listed in December last year.

Hubli, Mar 9: A Hubli court on Monday rejected the bail application of three Kashmiri students, who were booked for sedition, after their video allegedly raising pro-Pakistan slogans went viral.

The plea was filed under Section 439 of CrPC.

This comes after the Hubli Bar Association earlier withdrew its resolution against representing the three Kashmiri students and said that advocates who wish to appear for them can approach Dharwad Principal District Court to file bail plea.

The three students are Basit Ashik Sophi (19), Talib Majid (19) and Amir Mohiuddin (23). They were booked under sedition charges for raising pro-Pakistan slogan in a video shared on social media.

They were earlier transferred to Belgaum Hindalga jail from Hubli sub-jail and the case, registered in Gokul Road police station, was also transferred to the rural police station because the video was recorded in the college hostel room, which is in its jurisdiction.

Mangaluru, May 23: Criticising the Karnataka government's fresh protocol for management of Covid-19 as expensive, a prominent physician in the city has demanded its withdrawal.

According to Dr B Srinivas Kakkilaya, the protocol released by the Health and Family Welfare Department on May 15 enlists unnecessary and unconfirmed tests and treatments. 

The protocol has classified Covid-19 cases into three categories and has provided for hospitalisation of all three categories of patients, from asymptomatic to the most severely ill.

In a letter to the government, Dr Kakkilaya said: "The protocol suggests several investigations to be done right on the day of admission, including blood counts, liver and renal function tests, chest X Ray, ECG, CT scan of the chest, and other special investigations, all of which, if done, will cost Rs 25,000 per patient."

"In the coming days when lakhs of patients are likely to be infected with SARS CoV2, is it necessary and feasible to hospitalise and test all these patients at Rs 25,000 per person," he questioned.

The treatment options suggested in the protocol are also surprising, he pointed out. "The protocol recommends choloroquine, azithromycin, oseltamivir, zinc and vitamin C for all patients, from asymptomatic to the severely ill, and also anti coagulant injections for many patients. All these would cost at least Rs 5,000 per patient. For severe cases of Covid-19, many unproven and experimental treatments have been suggested, which are very expensive and highly questionable," Dr Kakkilaya notes.

Therefore, this protocol, he asserted was not evidence based and likely to do more harm than good. He said these unnecessarily expensive tests and allowing private companies to conduct trials on Covid-19 patients is likely to be misused by vested interests and must be immediately withdrawn, and instead, a protocol that is evidence-based, simple and avoiding unnecessary expenses, must be developed.