Monthly Archives: October 2018

Two pillars that are antiquities unearthed

A team of policemen unearthing a stone pillar from the guest house at Kasturi Estate in Chennai on Friday. | Photo Credit: S. R. Raghunathan
A team of policemen unearthing a stone pillar from the guest house at Kasturi Estate in Chennai on Friday. | Photo Credit: S. R. Raghunathan

Idol Wing of police finds them buried under lawns at Poes Garden bungalow

Two stone pillars that are antiquities buried under the lawns of a bungalow in Third Street, Kasturi Estate in Poes Garden were unearthed by the Idol Wing of police on Friday evening.

The team was led by the wing’s chief, Inspector General of Police A.G.Ponn Manickavel. He claimed that more than 20 idols and artefacts were concealed on the premises and the find was connected to the investigation against businessman and art collector Ranvir Shah, from whose premises they had recently recovered over 244 idols, stone pillars and artefacts.

“Following credible information from the investigation into Mr. Shah’s connections, we followed up on this lead and searched the premises,” he told journalists.

The bungalow is a guest house of KCP Sugars and Industries Limited in which city-based entrepreneur Kiran Rao is the executive director and Mr. Shah, an independent director.

Ms. Rao was not present when the search was conducted. The police took away an employee for questioning. “It looks like the two seized pillars were buried in the garden about four days ago,” the IG said. They were unearthed using crowbars in an operation watched by the media.

Late last month, the Idol Wing searched the house of Mr. Shah at Srinagar Colony and they followed it up with searches in his farmhouses last Tuesday in two villages in Kancheepuram.

Idol Wing officers claim that most of them do not have the required documents, a claim Mr. Shah has denied in his anticipatory bail petition.

CCTV footage

The Idol Wing claims that even as it conducted the search on his premises, some idols were moved to other locations and it zeroed in on a commercial establishment on Whites Road, Royapettah, in which Ms. Rao had stakes and two other premises in Raja Annamalaipuram.

The Idol Wing also claimed to have recovered recent CCTV footage showing antiquities being carted away from one place to another, which led them to the Friday’s search. After nightfall, the police suspended their search operations at the bungalow. They will resume it on Saturday morning.

Shah seeks time

Mr. Shah did not appear before DSP Idol Wing in Guindy for the inquiry. Instead, his advocate K. Thangarasu appeared and sought time.

Mr. Thangarasu said, “Prior to the receipt of the said summons, Mr. Shah had embarked on a previously planned trip to north India to perform the afterlife rites for his father Ranjit R.Shah as part of the sacred “Shraadh” month rituals. As a result, he is unable to appear in front of the DSP Idol Wing and he will be returning early next week.”

The advocate requested the DSP to excuse Mr. Shah’s absence and stated that he would come early next week. Mr Shah is a law abiding citizen and will be cooperating with the law enforcement agencies, the advocate added.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by Special Correspondent / Chennai – October 06th, 2018

‘Weapons are meant to protect country’

H.E Oleg N. Avdeev (Consul General of Russia) having a word with A.Sivathanu Pillai, Father of Brahmos, Vice President Indi Russian Chamber of Commerce and Industries, along with N. Ram, chairman, The Hindu Publishing group (right) and Kadambur Raju, Minister for Information and Publicity Tamil Nadu (left) ''BrahMosin Vetri Manthiram'' book release function during the Mahatma Gandhi 150th year birth day celebration held at Russian Cultural Centre, Alwarpet in Chennai on Tuesday. | Photo Credit: B_JOTHI RAMALINGAM
H.E Oleg N. Avdeev (Consul General of Russia) having a word with A.Sivathanu Pillai, Father of Brahmos, Vice President Indi Russian Chamber of Commerce and Industries, along with N. Ram, chairman, The Hindu Publishing group (right) and Kadambur Raju, Minister for Information and Publicity Tamil Nadu (left) ”BrahMosin Vetri Manthiram” book release function during the Mahatma Gandhi 150th year birth day celebration held at Russian Cultural Centre, Alwarpet in Chennai on Tuesday. | Photo Credit: B_JOTHI RAMALINGAM

Sivathanu Pillai, creator of the BrahMos missile, credits Dr. Kalam for achievements

The Russian Centre for Science and Culture, along with the Indo-Russian Chamber of Commerce and Industries, commemorated Gandhi Jayanthi by releasing a book by renowned defence technologist A. Sivathanu Pillai, BrahMos in Vetri Manthiram, on Tuesday.

A discussion on Indo-Russian humanitarian relations was held on the occasion.

Contribution lauded

Minister for Information and Publicity Kadambur Raju, who presided over the event, lauded the contribution of Mr. Pillai in creating the supersonic cruise missile, BrahMos, and promised to take his book to schools across the State so that students could get a glimpse of missile technology.

“The friendship between India and Russia has always been strong and will continue to remain so,” he added. N. Ram, Chairman, THG Publishing Private Limited, said, “Despite Western attempts to cause prejudice against Russia, the people of India have not been misled, especially in Tamil Nadu. I don’t see their propaganda have any serious influence. India remains immune.” Commending Mr. Pillai, he said, “Nobody, including the USA, has been able to reproduce anything like BrahMos. It is not meant to be used against anyone but to defend India’s national security.

“The people of Tamil Nadu represented by our Minister here are grateful to Russia for remaining steadfast strategic partners and co-operators.” Thanking the gathering for honouring his work and his book, Mr. Pillai recalled the days when he would study Tomahawk and other missiles to create something better in India. “It was Dr. Abdul Kalam’s dream to put our country on the top in technological advancements. “With the help of Russia and our leaders we were able to reach there by creating BrahMos,” he said.

“And like Mr. Ram said, weapons are not meant to fight but to protect. People will respect us only if we are able to defend ourselves,” he said.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by Staff Reporter / Chennai – October 03rd, 2018

Chennai-based companies attract huge investments

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Fifteen firms received $1.6 billion in funding during the third quarter of 2018

Led by the large ticket investment in Star Health Insurance and CAMS, fifteen Chennai-based companies attracted $1.6 billion in Private Equity and Venture Capital (PE-VC) investments during the third quarter of 2018. During the same period last year, seven investments worth $107 million flowed into city based firms.

Companies that raised significant capital during the latest quarter include Sanmar Chemicals ($150 million more from existing investor Fairfax Group); NBFC Five Star Business Credits ($100 million) and SaaS software maker Freshworks ($100 million).

At the national level, Private Equity (PE) investments in the first nine months of 2018 touched $23.7 billion (across 525 deals), up 29% (across 527 deals) when compared to the same period in 2017. Calendar 2017 was the biggest ever year for PE investments in India, recording $23.7 Billion across 704 deals. According to data released by Venture Intelligence, a research service focused on private company financials, transactions and their valuations, PE firms invested a record $9.2 billion (across 154 deals) during the quarter ended September 2018 – up 60% compared to the $5.8 billion (across 146 transactions) in the same period last year.

The investment amount in Q3’18 was 11% higher than the immediate previous quarter (which had recorded the previous highest quarterly investments at $8.3 Billion across 191 transactions). Note: These figures include Venture Capital investments, but exclude PE investments in Real Estate.

The latest quarter witnessed 22 PE investments worth $100 million or more (accounting for 79% of the total investment value during the period) compared to 13 such transactions in Q3’17. Of these, 12 were larger than $200 million each (by themselves accounting for 65% of the total value) – compared to just four such investments in the year ago period, the Venture Intelligence data shows.

International Investors

“International investor interest in Indian Internet and Mobile companies has shot up dramatically post the Walmart-Flipkart deal,” said Arun Natarajan, Founder of Venture Intelligence. “Investments in other industries – including in manufacturing, energy and engineering companies – is also quite strong. This lends confidence that 2018 will set a significantly new high for PE investments in the country, even if the nervousness in the public markets and global events begin to affect private markets in Q4,” he added.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by Sangeetha Kandavel / Chennai – October 02nd, 2018

Google doodle honours Aravind Eye Hospitals founder Dr. Venkataswamy

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Google on Monday honoured eminent ophthalmologist and founder of Aravind Eye Hospitals Govindappa Venkataswamy with a doodle in his birth centenary year.

The doodle, visible in India, Australia, and New Zealand, features a mirrored landscape blurred on one side and clear on the other with a caricature of Dr. Venkataswamy in the middle. Dr. Venkataswamy or Dr. V is known for introducing low-cost cataract surgery and the eminent ‘Aravind Model’ of free cataract treatment to the poor.

According to a World Health Organisation report released in 2012, cataract continues to be the main cause of blindness in the world (51%). According to a paper published by Indian Journal of Opthalmology, 8.25 million people could lose eyesight in India in 2020 due to cataract.

Dr. Venkataswamy started Aravind Eye Care in a rented house with 11 beds in Madurai in 1976 with an aim to eradicate what he called needless blindness. Today, Aravind has over 57 centres comprising five tertiary care centres, five secondary care centres, six outpatient centres and 41 vision centres across India.

DrAravind02CF01oct2018

Born on October 1, 1918, in Vadamalapuram village in what is today Virudunagar district of Tamil Nadu, Dr. Venkataswamy decided to study obstetrics reportedly after seeing three of his cousins die due to pregnancy-related complications. He graduated from Stanley Medical College in Chennai and joined the Indian Army as a physician in 1945. But Dr. Venkataswamy had to retire in the early thirties after he was diagnosed with rheumatoid arthritis that permanently twisted his fingers out of shape. This also meant he could not continue as an obstetrician.

Dr. Venkataswamy studied Ophthalmology and subsequently became the head of the Ophthalmology department at the Government Madurai Medical College. For the next two decades, Dr. Venkataswamy led Tamil Nadu government’s initiative of mobile eye camps in rural areas. At one stage, Dr. Venkataswamy would perform 100 surgeries in a day. “His team of paramedicals do most of the prep work required for each surgery, freeing doctors to do what they do best,” said Google’s blog post on Monday’s doodle.

Dr. Venkataswamy designed the way to address the problem of blindness in a holistic way. “He set up eye camps in rural communities, a rehab center for blind people, a training programme for ophthalmic assistants, and personally performing over 100,000 successful eye surgeries,” said Google’s blog post.

After retiring in 1976, Dr. Venkataswamy founded Aravind Eye Care with 11 beds. The vision was to devote six beds to those patients who could not pay anything and to cover those costs with the other five beds, serving patients paying only as much as they could afford. This model is a case study for numerous medical institutions and governments across the globe and has featured in classed of Harvard Business School. Today, Aravind has nearly 4,000 beds and 70% of patients receive free or subsidised treatment. To put this in perspective, every year Aravind performs 60% as many eye surgeries as the National Health Service in the United Kingdom, doing so at one-thousandth of the cost.

Dr. Venkataswamy was accorded the Padma Shri in 1973 and BC Roy Award in 2001 for his low-cost lenses that costs as little as $2 and is being exported to over 120 countries.

Dr. Venkataswamy passed away on July 7, 2006, and his family continues to run Aravind with the same vision of the patriarch.

source: http://www.thehindu.com / The Hindu / Home> Sci-Tech> Internet / by K. DeepaLakshmi / October 01st, 2018