UPA rushes through big-ticket deals

May 14, 2014

New Delhi, May 14: The last “working” Cabinet meeting of the outgoing UPA government on Tuesday saw several big-ticket decisions—ranging from FDI in the pharma sector to appointment of the new Army chief and approval to sell 4.66 per cent stake in the state-owned Bharat Heavy Electricals Ltd through a block deal.

Big-ticket_dealsOvercoming his initial hesitation over mega decisions at the fag end of his term, Prime Minister Manmohan Singh got the Cabinet to approve a $400-million proposal by global equity major KKR to acquire stake in two Indian pharma firms in a deal touted as the largest private equity in India’s health sector. This is among the deals fiercely opposed by the BJP on the ground that the outgoing government should not take any crucial decision when its tenure ends in two days.

As cleared by the Cabinet Committee on Economic Affairs (CCEA), KKR will buy a 38 per cent stake in Hyderabad-based Gland Pharma, which develops and manufactures generic injectables, primarily in the cardiovascular and orthopaedic segment. In the second transaction, KKR will buy 29.4 per cent share in Gland Celsus Bio Chemicals from an existing investor.

Currently, the government allows 100 per cent FDI in both greenfield and brownfield drug manufacturing companies. Investments in greenfield are allowed through automatic route and those in brownfield or existing facilities require approval of the Foreign Investment Promotion Board (FIPB).

Originally cleared by the Competition Commission of India in January, the KKR deal was stuck because of differences between the Finance and Commerce ministries. The Department of Policy and Promotion under the Commerce Ministry raised objections to the proposal as it believed several clauses of the deal did not adhere to the FDI policy on brownfield projects.

That also saw the Health Ministry joining the Commerce Ministry in advocating a lower cap on investment in the existing drug making units along with various safeguards for acquisition of domestic critical care pharma companies by multinational firms.

But the Finance Ministry and the Planning Commission wanted faster clearance to keep investors’ sentiments intact in the Indian market. The Prime Minister, however, was against the deal being cleared by the outgoing government. In the last Cabinet meeting on May 8, it was not given a nod even though Finance Minister P Chidambaram pitched for it.

On Tuesday, the CCEA also gave post-facto approval to sale of 4.66 per cent stake in state-owned Bharat Heavy Electricals Ltd through a block deal, Heavy Industries Minister Praful Patel said after the Cabinet meeting. “It is post-facto, the Cabinet has cleared it,” he told reporters when asked about the decision on the BHEL stake sale.

The government had divested 4.66 per cent in the heavy engineering major through a block deal on March 3. As the original approval by the Cabinet was for divestment through a follow-on public offer, the department of disinvestment had sought a post-facto approval for the block deal. The government currently holds 63.06 per cent stake in BHEL.

Meanwhile, official corridors were abuzz with talk of Chidambaram not approving a proposal from the Prime Minister’s Office to appoint Indu Shekhar Chaturvedi, a 1987 IAS Jharkhand cadre officer, as executive assistant in the World Bank in Washington.

Apparently, Singh spoke to the finance minister to clear it. In turn, Chidambaram got his personal assistant M A Siddique, a Tamil Nadu IAS cadre officer, also cleared by the Appointments Committee of the Cabinet, for placement with the World Bank.

The appointment of Muralidharan Nair as secretary to the outgoing prime minister was cleared on Tuesday.

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Agencies
May 28,2020

Several India-based firms are spoofing the World Health Organisation (WHO) by creating fake Gmail accounts and luring business leaders in disguise of informing them of latest COVID-19 announcements and hack their personal and financial information, Google has warned.

These "hack-for-hire" firms, many based in India, have been creating Gmail accounts spoofing the WHO, largely targeting business leaders in financial services, consulting, and healthcare corporations within numerous countries including, the US, Slovenia, Canada, India, Bahrain, Cyprus, and the UK.

"The lures themselves encourage individuals to sign up for direct notifications from the WHO to stay informed of COVID-19 related announcements, and link to attacker-hosted websites that bear a strong resemblance to the official WHO website," security researchers from Google's Threat Analysis Group said on Wednesday.

The sites typically feature fake login pages that prompt potential victims to give up their Google account credentials, and occasionally encourage individuals to give up other personal information, such as their phone numbers.

On any given day, Google's Threat Analysis Group (TAG) said it is tracking more than 270 targeted or government-backed attacker groups from more than 50 countries.

Last month, it sent 1,755 warnings to users whose accounts were targets of government-backed attackers.

"Our team of analysts and security experts is focused on identifying and stopping issues like phishing campaigns, zero-day vulnerabilities and hacking against Google, our products and our users," said the tech giant.

Google continues to see attacks from groups like Charming Kitten on medical and healthcare professionals, including WHO employees.

"We're seeing a resurgence in COVID-related hacking and phishing attempts from numerous commercial and government-backed attackers," said the company.

Government-backed or state-sponsored groups have different goals in carrying out their attacks: Some are looking to collect intelligence or steal intellectual property; others are targeting dissidents or activists, or attempting to engage in coordinated influence operations and disinformation campaigns.

Google said that since March, it has removed more than 1,000 YouTube channels that were part of a large campaign and behaving in a coordinated manner.

"These channels were mostly uploading spammy, non-political content, but a small subset posted primarily Chinese-language political content similar to the findings of a recent Graphika report," said the company.

Several cybersecurity firms have seen a spike in COVID-19 related scams and hacking attempts. Hackers are also creating scam sites similar to COVID-19 relief packages.

Researchers at Check Point Software Technologies revealed in mid-May that they have seen 192,000 coronavirus-related cyber-attacks per week over the past three weeks, a 30 % increase compared to previous weeks.

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Agencies
June 4,2020

New Delhi, Jun 4: Press Council of India (PCI) member BR Gupta has resigned from his post, saying he was unable to work individually or collectively for the media, which is in a "deep crisis".

"I have tendered my resignation as a Press Council of India member," Gupta told PTI.

He said the PCI had the responsibility to encourage media and media professionals constantly.

"But everyone now realises that the media scenario is in a deep crisis. The motto for which the Council was created was not being fulfilled and I felt I was not doing anything remarkable for the freedom of media," Gupta said.

He claimed that the PCI was not a wholly representative body for the media.

"Then how can we come out of the crisis being faced by the media and mediapersons? It is a big challenge for us. I have quit as I have not been able to work individually or collectively being a PCI member," Gupta added.

Referring to salary cuts and job losses, he said media and mediapersons were struggling for social, political and economic justice.

When contacted, PCI chairman Justice C K Prasad said Gupta's resignation has not been accepted yet.

"I have received it (the resignation). I have not gone through it. It has not been accepted," Prasad told PTI.

Gupta was appointed as a PCI member for a three-year term on May 30, 2018.

He said liberty is one of the basic features of the preamble to the Constitution that continues to inspire people and the media.

"It is difficult (for me) to fulfil the unbiased role and responsibility to help citizens and the media for making democracy stronger," Gupta said.

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News Network
June 25,2020

New Delhi, Jun 25: After the Drug Controller General of India (DCGI) given its approval to manufacture and market the generic version of COVID-19 drug Remdesivir, COVIFOR, Hyderabad-based drugmaker Hetero Limited has delivered the first set of 20,000 vials in two equal lots of 10,000 each across 5 states.

The first batch, which is being marketed under the brand name of COVIFOR, was delivered to Maharashtra, Delhi, Gujarat Tamil Nadu and Hyderabad. Hetero has set a target to produce one lakh vials of the drug in two-three weeks.

The other lot would be supplied to Kolkata, Indore, Bhopal, Lucknow, Patna, Bhubaneshwar, Ranchi, Vijayawada, Cochin, Trivandrum and Goa within a week to meet the emergency requirements.

Managing director of Hetero Healthcare M Srinivasa Reddy said “the launch of Covifor in the country is a milestone in addressing public health emergencies. Through Covifor, we hope to reduce the treatment time of a patient in a hospital thereby reducing the increasing pressure on the medical infrastructure overburdened ue to accelerating COVID-19 infection rates," he said as reported by news agency.

"We are closely working with the government and the medical community to make Covifor quickly accessible to both public and private healthcare settings across the country”, Reddy said.

Covifor is a generic brand of Remdesivir which is used for the treatment of COVID-19 in adults and children hospitalised with strong symptoms of the disease. The Health Ministry had, on June 13, recommended the use of anti-viral drug Remdesivir in moderate stage of COVID-19.

Dr Reddys Laboratories and Hetero are among others which have separately entered into non-exclusive licensing agreements with the original drug-maker Gilead Sciences Inc to register, make and sell the investigational drug Remdesivir in India and other countries.

Remdesivir would be made in the company's formulation facility in Hyderabad, which has been approved by global regulatory authorities such as US Food and Drug Administration (USFDA) and EU, among others, Hetero had earlier said.

The treatment first showed improvement in trials on coronavirus patients and was approved for emergency use in severely ill patients in the United States and South Korea.

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