India's 'biggest' spectrum auction starts today, proceeds likely to be around $7 billion

New Delhi, Mar 6: Union Finance Minister Nirmala Sitharaman on Friday will move the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 for consideration and passing in Lok Sabha.

In December last year, the Union Cabinet had approved a proposal to promulgate an ordinance to amend the Insolvency and Bankruptcy Code (IBC) 2016.

The amendments will remove certain ambiguities in the IBC 2016 and ensure smooth implementation of the code, an official statement said.

The move is aimed at easing the insolvency resolution process and promoting the ease of doing business. Aimed at streamlining of the insolvency resolution process, the amendments seek to protect last-mile funding and boost investment in financially-distressed sectors.

Under the amendments, the liability of a corporate debtor for an offence committed before the corporate insolvency resolution process will cease.

The debtor will not be prosecuted for an offence from the date the resolution plan has been approved by the adjudicating authority if a resolution plan results in change in the management or control of the corporate debtor to a person who was not a promoter or in the management or control of the corporate debtor or a related party of such a person.

The amendments are aimed at providing more protection to bidders participating in the recovery proceedings and in turn boosting investor confidence in the country's financial system.

New Delhi, Mar 7: Prime Minister Narendra Modi turned emotional on Saturday when a woman beneficiary of his government's generic medicine programme told him that she had seen God in him.

Dehradun-resident Deepa Shah, who suffered paralysis in 2011, was interacting with the prime minister through video-conference on the occasion of Jan Aushadhi Diwas.

"I have not seen god, but I have seen God in you," she said, tears rolling down her eyes.

Modi was visibly emotional as the woman repeated her remark.

She also thanked the Uttarakhand chief minister and others who had helped her all along and said doctors had once told her that she cannot be cured.

"But on hearing your voice I have become better," she told Modi while profusely thanking the prime minister for his efforts to reduce the cost of medicines.

An emotional prime minister paused for a moment before telling her that it was her courage that had won over her disease and that she must carry on with the spirit.

Shah was expressing her plight and how she had suffered due to high cost of medicines after she suffered from paralysis in 2011 and has now started saving Rs 3,500 every month after benefitting from the government's low-cost generic medicines programme.

Soon after Shah rose to express her views, Modi asked her to sit and speak as he said she was uncomfortable while standing.

"You have defeated disease with your own will power. Your courage is your god and that same courage has given you the strength to emerge from such a big crisis. You should carry on this confidence in you," Modi told her.

He said some people still keep spreading rumours about generic medicines, going by their past experience, wondering how can medicines be available so cheap and that there must be something wrong with the medicine.

"But, by seeing you countrymen would gain confidence that there is nothing wrong in generic medicines. These medicines are not at all of inferior quality than any other medicine. These medicines have been certified by the best laboratories. These medicines are made in India and is 'Make in India' and are cheap," the prime minister said.

He said there is demand for generic medicines from India across the world and the government has made it mandatory for doctors to prescribe generic medicines to patients, unless necessary.

Raipur, Jan 9: An outbreak of bird flu has been reported from a state-run poultry farm in Chhattisgarh's Korea district, prompting the authorities to cull over 15,000 birds and step up vigil on poultry birds within 10 km radius of the affected area, officials said on Thursday.

So far, 15,426 chickens and quails have been culled and 30,000 eggs destroyed after the highly contagious H5N1 virus was detected among birds at the poultry farm and hatchery in Baikunthpur town, located around 300 km from here, they said.

There has been no case of infection in humans so far due to the outbreak of avian influenza, they said.

"After some chickens and quails were found dead on December 7 last year in the farm, their samples were collected and sent to local laboratories for testing," Dr R S Baghel, deputy director, veterinary department, Korea, told news agency.

When the disease was not properly detected, samples were further sent to Jabalpur in Madhya Pradesh where veterinarians suggested symptoms of chronic respiratory disease, following which their line of treatment was followed.

"Despite the treatment, the abnormal deaths of birds continued," Baghel said.

Later, the samples were sent to Bhopal-based National Institute of High-Security Animal Diseases where tests were found positive for the H5N1 virus on December 23, he said.

"Immediately after getting reports of bird flu, we took permission from the Korea district administration, as per the standard procedure, and culled all 15,426 birds (chickens and quails) and destroyed 30,000 eggs in the farm and its adjoining areas," the official said.

Of the total culled birds, nearly 641 chickens were being reared by locals within one km radius of the farm. The locals were given compensation for the culling of their birds, he said.

"We have completed the culling process and sealed the farm. After sanitising the area in 10 km of its radius, we submitted a report to the state's directorate of veterinary services on Wednesday," Baghel said.

"No human has been affected due to the outbreak and the situation is under control. We are waiting for further directives from the higher authorities," he said.

The official said for the next three months, they will be conducting surveillance in 10 km radius of the affected area during which blood samples of birds will be regularly sent to Bhopal for testing.

"We will continue our observation for next three months," he added.

Meanwhile, state veterinary services director C R Prasanna said, "No human has so far been affected due to avian influenza and workers at the poultry farm at Baikunthpur have been given medicines as a precautionary measure."

Nearly 40 villages fall within the purview of 10 km radius of the affected area from where random sampling of poultry birds will be done for next three months to check whether they are infected with avian influenza, he said.

"Necessary steps are being taken to prevent bird flu from spreading to other areas," he added.