Companies & Sectors
'Sick' United Spirits calls EGM as net worth erodes
Bengaluru: British liquor major Diageo's Indian arm United Spirits Ltd (USL) has called for an extra-ordinary meeting (EGM) here to seek shareholders' nod for declaring itself "sick" owing to its net worth eroding more than 50 percent of its profits over the last four consecutive years.
 
In a regulatory filing to the Bombay Stock Exchange (BSE) on Tuesday, the city-based company said its board of directors had decided on December 22 to seek shareholders' approval for declaring it sick under the Sick Industrial Companies Act (SICA) 1985 due to erosion of its net worth.
 
"In accordance with section 23 of SICA, the company shall report to the Board for Industrial and Financial Reconstruction (BIFR) that the company's accumulated losses as on March 31, 2015 have resulted in net worth eroding by more than 50 percent," the filing noted.
 
Net worth of a company is the value of its assets excluding liabilities, including its debt portion.
 
Though liquor baron Vijay Mallya continues to be USL chairman and on its board as a director under an agreement with the London-based Diageo, he holds a mere 4.07 of the blue chip's equity stake after the former bought majority stake (54.7 percent) in 2012 and took control of it soon.
 
Diageo plc also appointed global audit firm PricewaterhouseCoopers (PwC) India to do forensic investigation of its accounts, following discrepancies, including financial irregularities, which included writing off Rs.7,200 crore from the books.
 
For 2014-15, the company reported net loss of Rs.1,956 crore on standalone basis and Rs.1,687 crore on consolidated basis on a revenue of Rs.8,353 crore.
 
In 2013-14, net loss was Rs.5,103 crore on standalone and Rs.4,489 crore on consolidated basis.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article

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No junior-level interviews in central government, PSUs from January 1
New Delhi : There will be no more interviews for selection in junior level posts and non-gazetted posts of the central government from January 1, 2016, a government memorandum said on Tuesday.
 
"The timeline set regarding completing the process of the discontinuation of interview by December 31, 2015 has to be adhered to strictly," said the memorandum from the department of personnel and training issued to all central ministries, departments, attached offices, subordinate offices, autonomous bodies and public sector undertakings.
 
"From January 1, 2016, there will be no recruitment with interview at the junior level posts," it said.
 
"All advertisements for future vacancies will be without interview as part of the recruitment process.
 
"It is also clarified that as skill test or physical test is different from interview, they may continue. However, these tests will only be of qualifying nature. Assessment will not be done on the basis of marks for such tests," it said.
 
Prime Minister Narendra Modi has repeatedly suggested doing away with interview for most junior level posts to reduce scope of discretion.
 
In case of specific posts where the ministry or department wants to continue taking interview as a process of recruitment, a detailed proposal seeking exemption will have to be sent to the department with the approval of the minister or minister-in-charge.
 
The ministries have been asked to send a consolidated report by January 7 in this regard.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article. 

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Stop treating Google as your doctor
Are you among those who log in to Google every time you are down with body ache, fever or cold, only to get more confused and scared
 
New Delhi: Are you among those who log in to Google every time you are down with body ache, fever or cold, only to get more confused and scared? Many young Indians with smartphones in their hands are falling prey to the "Google-as-your-doctor" phenomenon and the dangerous trend is on the rise in the country, health experts feel.
 
Although there is nothing wrong in checking your symptoms or trying to find more about your illness on the internet, they say that one should know where to stop.
 
The ideal situation is to use search engines only when someone is diagnosed with a certain medical condition and wants to know more about it. The information available on internet should be used to educate oneself rather than trying to find a cure for the disease.
 
"The biggest problem is that internet is loaded with enormous information which could be correct too but then your symptoms could be similar to some other disease which may cause confusion. Therefore, correct diagnosis of your health abnormality is very important," Dr. Satnam Singh Chhabra, head (neuro-spine surgeon) at the Sir Gangaram Hospital here, told IANS.
 
He has observed many young Indian adults getting hooked to the internet to look for every little thing, even self-diagnosis.
 
For instance, if one has a health abnormality, then the instant reaction is to Google the symptoms before seeing an expert or a doctor.
 
"But one should be careful as people normally look for symptoms to get rid of curiosity and anxiety but to the contrary, it just worsens the scenario and leaves them more anxious," Chhabra said.
 
According to Dr. (Prof) Raju Vaishya, senior consultant (orthopaedic and joint replacement surgeon) at Indraprastha Apollo Hospital, one should beware of getting trapped into "Google as your doctor" behaviour as this may cause more harm than good.
 
"Yes, there is an increasing surge in young Indians with smartphones who google common health symptoms. I find more such patients coming to me with queries related to hand, wrist and elbow," Vaishya told IANS.
 
Dr. R K Singal of the BLK Super-specialty Hospital had an interesting case study to share: "Once a patient in his mid-30s came to me with severe headache. He told me that he thought he had a brain tumour. After diagnosis, we found that headache was due to prolonged sore throat and rhinopharyngitis (common cold)."
 
"The patient visited me after a month of self-diagnosis through internet. Whatever he found on the internet made him believe that he had a brain tumour," Singal told IANS.
 
According to Singal, people in the 25-40 age group are more hooked on to the internet and such self-diagnosis only increases one's anxiety.
 
Dr. Rahul Gupta, senior neuro and spine surgeon at Fortis Hospital in Noida, is attending to many young Indians who come to him with weird health queries after scanning Google.
 
"Self-medication via the internet can be dangerous. Patients at times do not follow our advice and waste our time with silly questions," he stressed.
 
According to Gupta, Google is good when it comes to searching for a good doctor, checking spellings of a medication and reading about general health-related issues.
 
Another danger of self-diagnosis is that you may think that there is more wrong with you than there actually is.
 
"For example, if you had insomnia, inattention and depression, you may believe that you have a sleep disorder or major depression. Thus, you may make things worse by worrying more as well," Singal noted.
 
Self-diagnosis is also a problem when you are in a state of denial about your symptoms.
 
One may think that generalised body aches started with a worsening of mood, but a doctor may elect to do an electrocardiogram for chest pain that reveals possible coronary artery disease, the experts felt.
 
Are health websites trustworthy when it comes to answering health symptom queries?
 
"I don't see any harm in doing that because it's about your health after all. In fact, a lot of times my patients come back with queries after surfing about their health abnormality on the internet," Chhabra said.
 
So, educate yourself as much before or after you visit your doctor, but let the experts do their job. Let your doctor prescribe you a treatment well-suited for your ailment.
 
"One should be wise enough to understand which is an authentic website with relevant content as there are a lot of paid sites which exist only to make business," Chhabra advised.
 
Vaishya asked youngsters to share their internet-acquired knowledge with the doctor but not to force it upon the doctor to follow it.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article. 

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COMMENTS

Meenal Mamdani

1 year ago

As a physician I agree with most of the recommendations in this article.

Except for one statement "don't ask me silly questions".

A doctor must educate the patient about her/his health problems. Treatment works best when the doctor treats the patient as a team member and not some one who is to be fobbed off with curt answers.

Yes, hypochondriacs can be a pain in the neck but in my experience, these are few. It is more common in India to encounter patients who look upon doctors almost as gods.

Patients should be given info about reliable websites pertaining to their disease and encouraged to be well informed.

Vaibhav Dhoka

1 year ago

This practice confuses doctor as query from internet diagnosis is cumersom.

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