Philanthropist Sultan Haji Kodaje passes away

Bengaluru, Apr 28: Karnataka has found that the rapid antibody test kits for COVID-19 that the Centre supplied to the state have only 47% sensitivity. The state will be returning the kits to the Indian Council of Medical Research (ICMR).

Karnataka had received 11,400 rapid antibody test kits from the ICMR a few days back, out of which it had sent around 200 of them to NIMHANS for validation.

After the ICMR, on Monday, sent a circular to all states to return the test kits to the suppliers, Dr CN Manjunath, Director, Jayadeva Institute of Cardiovascular Sciences and Research, and nodal officer for lab testing in the state's COVID-19 task force, said, "We have cancelled the orders we placed to Guangzhou Wondfo Biotech and Zhuhai Livzon Diagnostics for one lakh rapid antibody test kits. Since the ICMR supplied us with 11,400 kits out of the 6.5 lakh kits it procured, we will be returning the kits to them."

Manjunath told said that the validation at NIMHANS revealed the kits to have only 47% sensitivity. Sensitivity is the ability of a test to identify the true-positives in a population, i.e., the actual number of people who've been infected with the disease. With the rapid antibody testing kits being shelved, the state's plan to randomly test high risk groups has taken a backseat. 

So far, the state has tested 43,791 samples. 

Karnataka now has 22 testing facilities -- 14 government and seven private labs. Many private labs have not tested any samples so far because of the lack of test kits (the state has made it clear that it will not provide test kits to private labs). So, getting an ICMR approval for testing has become a moot point.p

Agreeing to the setback the state's plans of ramping up testing has taken, Manjunath said, "It is true that RT-PCR test kits are in shortage. Even Pune's Mylabs had a shortage in supplying test kits. But we are relying on institutes like Kidwai, Narayana Health and Biocon's Syngene that have received approval for testing. They're big institutes and we hope that they will test a large number of samples."

On reports that the Centre has RT-PCR test kits that will last for only a week, he said, "We have test kits that will last for eight to 10 days. We have ordered for more. We are hoping to receive them before the current kits run out."

Kalaburagi, Mar 25: Three coronavirus suspect persons who did not stay home during their mandatory 14-day quarantine period had first information report (FIRs) booked against them in police stations in Kalaburagi town in Karnataka.   

The district administration took this action after it came to know that the three pesons were mingling in the public despite being told to stay home to avoid passing on the coronavirus.

Cases have been booked against them under IPC sections 188 and 271, deputy commissioner B Sharath said.

Stringent action would be taken against them, he said, for not only threatening the health of their family members but society at large.

“The administration will stop at nothing to safeguard public health in this time of emergency,” Sharath said.

People moving around on motorbikes without a proper reason will have their bikes seized. Prohibitory order under Section 144 of CrPC will remain in force until further orders, he said.  

Abu Dhabi, Feb 17: NMC Health Plc, a hospital operator targeted by short-seller Muddy Waters, said founder Bavaguthu Raghuram Shetty resigned amid investor concern he faced a margin call and misrepresented his stake.

The board asked for Co-Chairman Shetty’s resignation and it takes effect immediately, according to a person with knowledge of the situation. NMC has lost four board members since Friday, including Vice Chairman Khaleefa Butti, whose holdings are also being probed. The stock, the worst performer on the FTSE-100 Index this year, fell as much as 9.2 percent Monday morning and then rebounded.

“The resignation of senior board members should be viewed positively,” said Abdulla Nahlawi, an analyst at Rasmala Investment Bank in Dubai. “The credibility of the current board has been jeopardized with the unfolding of the recent events.”

NMC shares lost almost half their value the first week of February on speculation the company’s main investors faced a margin call, in which banks seize shares pledged as collateral. NMC said Friday that First Abu Dhabi Bank and Al Salam Bank Bahrain obtained 20 million shares in the company from BRS International Holding, an investment vehicle of NMC’s top shareholders. The banks sold more than 8 million of those shares as “enforcement of security,” NMC said.

NMC operates the largest medical network in the United Arab Emirates and in 2012 became the first Abu Dhabi company to list in London. The shares started teetering in mid-December when Muddy Waters alleged that NMC manipulated its balance sheet and inflated the prices of companies it acquired.

Shetty, 77, was born in India and founded NMC in the 1970s after moving to Abu Dhabi. His spokesman said a legal review of the situation is ongoing and declined further comment.

Chief Investment Officer Hani Buttikhi and board member Abdulrahman Basaddiq also stepped down because they were appointees of Shetty and Butti, NMC said, adding that they had no knowledge of the share transfers.

Questions remain over the role of Shetty’s family at the company. His wife and son-in-law both hold roles in senior management.

Almost 10 per cent of NMC’s freely traded shares are shorted, according to Markit Securities data. In mid-December about a third of them were.

Last week GKSD Investment, an investment company backed by hospital investors, said it’s studying a possible offer for NMC. Under U.K. takeover rules, it has until March 9 to make a bid.

NMC has said Muddy Waters’s claims are false and the company hired former FBI Director Louis Freeh to conduct an independent review. The review is due to be completed before the company issues its financial results in March, the person said.

NMC said Mark Tompkins will continue as the company’s sole chairman.