Case slapped on Dr Reddy’s over fire deaths at Bollaram unit

Two persons were charred to death in a fire that broke out in the material-handling lift area in G Block of the unit’s API manufacturing facility at DRL’s Bollaram plant on 17th March

Hyderabad: The Directorate of Factories, Andhra Pradesh, has filed a second case against pharma major Dr Reddy’s Laboratories (DRL) over alleged safety-related lapses at its USFDA-certified manufacturing facility at Bollaram in Medak district, reports PTI.

Two persons were charred to death in a fire at DRL’s Bollaram plant on 17th March. The fire broke out in the material-handling lift area in G Block of the unit’s API manufacturing facility at around 10pm.

The deceased, K Govind Rao (34) and D Keshava (24), both casual workers, were carrying materials in the lift when electrical sparks led to the fire, which spread rapidly, according to the police.

According to the Director of Factories, G Bala Kishore, the department filed a case in connection with the incident in a magistrate’s court in Medak under the Factories Act, accusing the company of using unskilled workers for skilled jobs.

“We have filed cases under Sections 7 A (1) and 41 of Factories Act, 1948, and AP Factories Rules, 1950,” Mr Bala Kishore told PTI.

The sections pertain to employment of unskilled contract workers for core activities and for handling of hazardous materials without proper supervision.

Earlier, in March, authorities had filed a case against the company when two employees were killed due to excess inhalation of nitrogen in another USFDA-approved plant in the area last December.

A police official said the investigation into the fire incident would be complete soon.

“Preliminary investigation reveals that some static electricity might have developed and it caused a fire,” the official said.

The police had registered a case under Section 304 A (causing death by negligence) against the DRL management in this regard.

The company’s stock was trading at Rs1,582, up 0.23% from its previous close on the Bombay Stock Exchange in noon trade today.

User

July, not June rains matter for crop production

The IMD's long range forecast for the 2011 south-west monsoon season is that the rainfall for the country as a whole is most likely to be Normal (96-104% of Long Period Average)

The Indian monsoon season (June to September) has started on a positive note. For the week ending 1st June, all-India rains were 12% above normal. However, it is July, not the June rains, that matter for the agriculture sector, which accounts for 14.4% of gross domestic product (GDP), and is heavily dependent on monsoon rains, according to a report by Nomura Global Economics.

The correlation between annual food output growth and the monthly rainfall deviation is the highest for July at 0.83. This is because sowing of a number of crops starts in June and good July rains determine the soil moisture and ensure proper development of the crops planted in June. Therefore, it is too early to conclude on the crop prospects for this year, Nomura adds.

However, the Commonwealth Bureau of Meteorology's Southern Oscillation Index (SOI) fell from a record-high of 27.1 last December to 2.1 in May, suggesting that the strong La Nina conditions (that led to a massive flooding in Australia) are ending and that weather conditions are now neutral. This should augur well for the Indian monsoons.

The India Meteorological Department (IMD) on Friday said that the monsoon has further advanced over some more parts of the central Arabian Sea, Karnataka, Andhra Pradesh and the Bay of Bengal and entire Goa.

The IMD's long range forecast for the 2011 south-west monsoon season is that the rainfall for the country as a whole is most likely to be Normal (96-104% of Long Period AverageLPA).

Quantitatively, monsoon season rainfall is likely to be 98% of the LPA with a model error of ± 5%. The LPA of the season rainfall over the country as a whole for the period 1951-2000 is 89 cm.

User

Kingfisher in talks with investors on GDR issue

The carrier had planned a GDR issue in December last year to reduce its debt but failed to do so as stock prices began slumping

Singapore: With jet fuel prices starting to move downwards, Kingfisher Airlines has resumed talks with investors for issuing global depository receipts (GDR) to raise around $300 million, reports PTI quoting its owner Vijay Mallya.

"We had to postpone the GDR issue as the fuel prices were going sky high. When we had planned this out, it was on the basis of the fuel prices remaining at around $90 per barrel. But the prices shot up to $120. So clearly, it had to be postponed. Now with the fuel prices coming down, the investors are engaged with us," he said.

The carrier had planned a GDR issue in December last year to reduce its debt but failed to do so as stock prices began slumping.

The company has appointed Citi, JP Morgan and CLSA as its merchant bankers.

Mr Mallya, who is here to attend the annual general meeting of the International Air Transport Association (IATA), also announced that his carrier would join the 'Oneworld' alliance of airlines in February next year.

Confirming this, 'Oneworld' CEO Bruce Ashby told PTI, Kingfisher and Europe's 5th largest airline 'Airberlin' have already signed agreements to become members-elect to join the alliance early 2012.

Malaysian Airlines today joined as a full-fledged member of the alliance.

Mr Mallya said he would "continue to press the government to review its aviation foreign direct investment (FDI) policy" to allow foreign airlines to pick up stake in Indian carriers.

"The prime minister is constantly encouraging FDI into India in all sectors. There is 100% FDI in airports. I don't see any reason in excluding foreign airlines from investing in Indian carriers. A general investor will be less attracted to invest in the aviation sector given its volatility," he said.

He wanted the government also to reduce taxes on aviation turbine fuel, especially the sales tax imposed on it by state governments.

"Several chief ministers want me to fly to their states, to new cities. But my pleading has been to reduce sales tax on ATF," he said.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)