Cargo ship feared sunk, search on for 20 crew members

New Delhi, Jan 24: The government's plan to sell national carrier Air India may face political and legal headwinds with senior BJP leader Subramanian Swamy raising the red flag against the decision.

Days before the launch of bidding process by inviting Expressions of Interest (EoI) from potential suitors, Swamy has warned against such move, saying the issue was currently being discussed by a Parliamentary panel.

"Right now, it (Air India disinvestment) is before the consultative committee and I am a member of that. I have been asked to give a note which will be discussed in the next meeting. They can't go ahead without that," Swamy told media.

"If they do, I will go to court. They know that too," he cautioned.

A vocal opponent of Air India privatisation, Swamy had earlier suggested to list 49 per cent of Air India shares on stock exchanges while government holds 51 per cent in the carrier, as an alternative to selling its entire stake to private companies.

It has been reliably learnt that the Rajya Sabha member had expressed reservations over privatisation of Air India at the meeting of a Parliamentary consultative committee earlier this month.

After its failed first attempt, the Modi government has shown great zeal this time to sell Air India. It is set to offer a sweetened deal to potential buyers this time around by removing a large chunk of the debt and liabilities from the airline’s books.

Aviation Minister Hardeep Singh Puri had earlier said that Air India will be shut down, in case the disinvestment exercise is not successful.

Sources told media that the preliminary information memorandum (PIM) inviting EoI has been tentatively scheduled to be unveiled on January 27.

Air India is proposed to be sold along with its subsidiary Air India Express and ground-handling joint venture company Air India Singapore Airport Terminal Services Ltd (AISATS) in which it has 50 per cent stake.

Air India on January 10 came out with a tender for engaging aircraft asset management companies for carrying out technical audit of its entire fleet.

A Ministerial panel on Air India chaired by Home Minister Amit Shah on January 7 approved the draft EoI and a share purchase agreement (SPA) for the airline's disinvestment.

Bengaluru, Apr 30: Shares of Glenmark Pharmaceuticals Ltd rose almost 9% on Thursday after the Indian drugmaker got an approval to conduct clinical trials with antiviral drug favipiravir, seen as a potential treatment for COVID-19.

Favipiravir, manufactured under the brand name Avigan by a unit of Japan's Fujifilm Holdings Corp and approved for use as an anti-flu drug in the Asian island country in 2014, has been effective, with no obvious side-effects, in helping coronavirus patients recover, a Chinese official told reporters at a news conference last month.

"After having successfully developed the API and the formulations ... Glenmark is all geared to immediately begin clinical trials on favipiravir on COVID-19 patients in India," Sushrut Kulkarni, executive vice-president for Global R&D, Glenmark Pharmaceuticals, said in a statement. 

The Drug Controller General of India, the country's drug regulator, did not immediately respond to Reuters request for comment.

On Wednesday, another Indian pharmaceutical company, Strides Pharma Science Ltd, said it had developed and commercialized favipiravir antiviral tablets, and had applied to Indian drug authorities to start trials.

Shares of Mumbai-based Glenmark Pharmaceuticals, which rose as much as 8.9% to 359 rupees ($4.78), was trading up 5.9%, as of 0407 GMT.

Mumbai, Jul 13: In a significant landmark, the BrihanMumbai Municipal Corporation (BMC) has achieved a doubling-rate of 50 days for COVID-19 cases, a top official said on Monday.

This was possible because of the civic body's 'open testing policy', implying tests without prescriptions, making it the only city in the country to implement it.

"After the open testing policy, our testing has gone up from 4,000 to 6,800, daily. But the total positive cases have come down from 1,400 to 1,200 now," BMC Municipal Commissioner I.S. Chahal told IANS.

Of these 1,200 positive cases, the symptomatic cases are less than 200, so the BMC needs only 200 beds daily, the civic chief said.

Even the BMC's discharge rate now stands at 70 percent, and on Sunday, after allotting beds to all patients, there were still 7,000 COVID beds plus 250 ICU beds lying vacant, said Chahal.

For this achievement, Chahal gave the credit to the entire 'Team BMC' where - despite losing a little over 100 officials to the virus - civic officials and other Corona warriors are engaged 24x7 in controlling the pandemic for over four months.

Since the first case was detected in Mumbai on March 11 (after the state's first infectees in Pune on March 9) and the state's first death notched in Mumbai on March 17, the current Maharashtra Covid-19 tally stands at 2,54,427 cases and fatalities at 10,289, while Mumbai has recorded 92,988 cases with a death toll of 5,288.