Mukesh Ambani richest Indian for fifth straight year: Forbes

October 25, 2012

mukesh


New York, October 25: Mukesh Ambani has retained his position as the world’s richest Indian for the fifth year in a row, although his net worth declined by $1.6 billion to $21 billion but remained well above that of the second-ranked Lakshmi Mittal.

Steel baron Mr. Mittal’s net worth also fell by $3 billion at $16 billion, making him the second richest, as per global business magazine Forbes’ annual ranking of 100 wealthiest Indians, released Thursday.

Mr. Ambani, who heads energy-to-retail conglomerate Reliance Industries group, and Mr. Mittal were followed by IT czar Azim Premji ($12.2 billion), construction major and Tata group’s major shareholder Shapoorji Pallonji group patriarch Pallonji Mistry ($9.8 billion) and drugmaker Sun Pharma’s Dilip Shanghvi ($9.2 billion) in the top five.

Mr. Mukesh’s younger brother Anil Ambani, who heads telecom-to-infrastructure conglomerate Reliance Group, was ranked 11th with a net worth of $6 billion.

Others in top-10 ranking include Adi Godrej at sixth position ($9 billion), followed by Savitri Jindal ($8.2 billion), Shashi & Ravi Ruia ($8.1 billion), Hinduja Brothers ($8 billion) and Kumar Mangalam Birla ($7.8 billion).

Even as the net worth of top-ranked persons like Mr. Ambani and Mr. Mittal fell, the collective wealth of India’s richest 100 rose by 3.7 per cent ($9 billion) to $250 billion in the past one year, Forbes said.

The number of billionaires also rose to 61, from 57 last year. Sun Pharma group’s Mr. Shanghvi entered the top five for the first time.

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News Network
May 9,2020

Lucknow, May 9: The first patient to receive plasma therapy as an experimental treatment for coronavirus infection in Uttar Pradesh died following a heart attack on Saturday.

The patient, a 58-year-old doctor, was admitted at the King George’s Medical University (KGMU) here.

The doctor, who was on ventilator since the last 14 days, died on Saturday evening following a heart attack, KGMU Vice-Chancellor M L B Bhatt said.

Since he had high blood pressure and diabetes, he was under the continuous observation of doctors in the isolation ward, Bhatt said.

“The patient was in a stable condition. His lungs had improved, but he later developed urinary tract infection. Two reports of his samples came out as negative (for COVID-19) today,” the vice-chancellor said.

“He, however, suffered a heart attack around 5 pm. Despite all efforts, he could not be saved,” he said.

The doctor from Orai in Uttar Pradesh was administered plasma therapy at the state-run KGMU on April 26. He was administered the plasma donated by a doctor from Canada who was the first COVID-19 patient admitted at the hospital and later recovered.

Tulika Chandra of Blood Transfusion Department, KGMU said, "When the patient was given plasma therapy, his condition was very bad. His lungs, however, improved. But as he was an old patient with diabetes, he was kept on the ventilator.”

Convalescent Plasma Therapy is an experimental procedure for treating COVID-19 patients. In this treatment, plasma, a blood component, from a cured patient is transfused to a critically ill coronavirus patient.

The blood of a person who has recovered from COVID-19 develops antibodies to fight the virus. This therapy uses the antibodies from the blood of a cured patient to treat another critical patient.

The Union health ministry, however, had advised against considering the therapy to be a regular treatment for coronavirus, adding it should be used for research and trial purposes till there is a piece of robust scientific evidence to support its efficacy.

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News Network
March 6,2020

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.

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News Network
July 1,2020

New Delhi, Jul 1: 18,653 COVID-19 cases have been reported in India in the last 24 hours, taking the country's tally of coronavirus cases to 5,85,493, informed the Union Health and Family Welfare Ministry on Wednesday.

As per the Ministry, there are presently 2,20,114 active cases in the country. The number of patients cured/discharged and migrated stands at 3,47,979.

507 deaths due to COVID-19 were reported in the last 24 hours taking the total deaths due to the virus to 17,400.

According to the ministry, Maharashtra is the worst-affected state by the virus with 1,74,761 cases including 7,855 fatalities.

Tamil Nadu is the second worst-hit state with 90,167 cases including 1,201 deaths. Meanwhile, Delhi has a total of 87,360 cases.

The Indian Council of Medical Research said that a total number of 86,26,585 tested up to June 30 of which 2,17,931 samples were tested on Tuesday.

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