Latest news with #IMCL
Indian Express
21-05-2025
- Health
- Indian Express
Allow us to reduce EWS obligation: Indraprastha Apollo Hospital moves plea before SC
The Indraprastha Apollo Hospital in Delhi has moved an intervention application before the Supreme Court, requesting that it be allowed to reduce its EWS (Economically Weaker Sections) obligation to 10% in the In-Patient Department (IPD) and 25% in the Out-Patient Department (OPD). If this proposal is accepted, the hospital would no longer be bound to maintain 200 EWS beds. Instead, it would be required to provide around 70 such beds, marking a significant shift in its obligation to serve the economically weaker sections. At present, while 33% of the IPD and 40% of the OPD of the hospital cater to the EWS category, medicines and consumables are not provided free of cost to these patients, though they receive free treatment. In an affidavit submitted to the SC on May 14, Indraprastha Medical Corporation Limited (IMCL) — which runs the hospital — submitted that it is ready to provide free treatment, along with free medicines and consumables, if it is allowed to use only 10% of its IPD and 25% of the OPD to treat EWS patients. This comes after the SC had warned the hospital on March 25 that it would direct the All India Institute of Medical Sciences (AIIMS) to take over its management if it failed to fulfill its land lease commitment given to the state government to provide free treatment to poor patients. At 26%, the Delhi government has the largest stake in the hospital, which was handed over 15 acres of land on lease at a token rent of Re 1 per month. Institutions like hospitals and schools, which get land from the government on concessional rates, are obligated, as per the terms of their lease, to provide free services to those from the EWS category. In the affidavit, the IMCL has said that despite the recommendations of the Qureshi Committee, it remained bound by the terms of the lease deed, which imposed a 'higher and more onerous obligations of 33% free IPD and 40% OPD'. In 2001, a report by a committee set up by the Delhi government, led by Justice A S Qureshi (retd), had recommended 25% OPD and 10% indoor services for EWS patients in private hospitals and nursing homes that had received land on concessional rates. The IMCL also said that the obligation to provide 33% free IPD and 40% free OPD services resulted in a disproportionate burden on it. 'This happened because of the loss of exemption from customs duty and other benefits,' it added. Further, the hospital said that while it had expressed willingness to purchase the land given on lease by the government, due to DDA policies, the land could not be allocated directly to a private company. The land was then allotted to the Delhi government, which in turn was leased to the IMCL. The affidavit also submitted said that the Delhi government has received over Rs 87 crore till date as dividends from the hospital, and its original equity investment of Rs 23.83 crore has appreciated to about Rs 900 crore. As per the court's instructions, the hospital submitted the existing bed strength and records of OPD and IPD patients for the last five years.
Indian Express
06-05-2025
- Entertainment
- Indian Express
Daily Briefing: Mock drills
Good morning, For much of this morning, the internet has been drooling over the fan-anointed 'Badshah of Bollywood'. Shah Rukh Khan graced the red carpet (well, blue this time) of the Met Gala 2025, the grandest fashion event unfolding at the Metropolitan Museum of Art in New York. He became the first Indian male actor to walk the carpet, dressed in Sabyasachi's finest couture and wielding a gold-crafted Bengal Tiger head cane. At his candid best, Khan told Vogue interviewers he was nervous and was here at the designer's request. We all love a humble king! On that note, let's get to today's edition. Big Story Amid rising tensions over a likely Indian military response to the April 21 Pahalgam terror attack, the government has instructed northern and western states and Union Territories to conduct safety drills to test and strengthen civil defence mechanisms in the event of a hostile attack. This will include activating air raid sirens, implementing crash blackout measures in selected areas and training civilians, including students, on safety protocols. Meanwhile, Jammu 's Chenab River ran dry for the first time in many years, with water levels falling below the waist level on Monday. Locals gathered to witness the phenomenon; some were scouting for gold and silver ornaments. Officials told this newspaper that this was due to India lowering the sluice gates of the Baglihar dam to restrict water flow to Pakistan's Punjab. Only in Express In 1988, the Delhi government leased 15 acres of prime land in Jasola to Indraprastha Medical Corporation Ltd (IMCL)—operators of Apollo Hospital—for just Re 1 a month. In return, IMCL was to build a super-speciality hospital and reserve one-third of its 600 beds for free treatment of poor patients. Decades later, that promise remains largely unfulfilled. In March, the Supreme Court issued a stern warning: comply or risk having AIIMS take over the hospital's management. The warning wasn't without reason. The Indian Express dug into company records and found that Apollo meets only one-fifth of the quota. From the Front Page The catch: As India and the UK discuss finalising a trade deal, one sore point has stalled negotiations: the carbon tax. Duties on carbon-intensive imports could disrupt India's iron, steel, aluminium, ceramics, and cement exports as the UK remains unwilling to grant any concessions. Declared: Chief Justice of India Sanjiv Khanna prefers a fixed deposit for savings. Justice Sanjay Kumar, on the other hand, has a detailed stock portfolio. How do we know this? Well, Supreme Court judges have just made their assets public. Check it out! Must Read It's 'normal': Will artificial intelligence (AI) impact life like the Industrial Revolution? Will it go rogue and take over humanity? It's doubtful, say researchers at Princeton University. Arvind Narayanan and Sayash Kapoor explain why fears around AI are unfounded and will be decades before AI does anything transformative. Read. The arithmetic: The BJP government's announcement for caste enumeration comes at an intriguing time when the nation is rife with tensions over the Pahalgam terror attack. In her weekly column, Neerja Chowdhury deciphers the BJP's play and whether it will lead to another Mandal moment. Unjust? While the Indus Waters Treaty (IWT) is hailed internationally as an outstanding example of water sharing, given its scale and the hostility between the signatories, for Dilip Sinha, a former diplomat, the IWT is anything but and should be scrapped. He argues that the treaty has been unfair to India, giving Pakistan an undue advantage. And Finally… Picture this: you are deep in an online chess battle, the prize money's in lakhs, adrenaline's pumping… and boom, your screen freezes. Welcome to every gamer's worst nightmare. Now imagine being Nihal Sarin, a 20-year-old Grandmaster from Kerala who's played—and won—thousands of games in speed chess online. When one millisecond can make or break a match, slow internet isn't just annoying; it's a dealbreaker. But the good news is is levelling up. They are all set to expand their Realtime Chess Network, which has one server in Mumbai and could help Indians be on par with global rivals. 🎧 Before you go, tune in to today's episode of the '3 Things' podcast, where we discuss the diplomatic measures India has taken against Pakistan, the alarming hike in school fees across cities, and the rising tensions in the Israel-Gaza war. That's all for today, folks! Until tomorrow, Sonal Gupta
Business Standard
28-04-2025
- Business
- Business Standard
ICRA reaffirms ratings of Indraprastha Medical Corp; maintains 'stable' outlook
Indraprastha Medical Corporation said that the credit rating agency ICRA has reaffirmed the company's long-term rating at '[ICRA] AA' with 'stable' outlook. The agency has also affirmed the companys short term rating at [ICRA] A1+. ICRA stated that the rating action factors in Indraprastha Medical Corporation Limited (IMCL)s established presence and strong market position in the NCR region, its healthy operating metrics and its robust financial profile. The ratings also factor in IMCLs revenue diversification across specialities, including oncology, neurology, cardiology and nephrology, among others. The financial risk profile remains comfortable as reflected by minimal gearing, robust debt protection indicators and a strong liquidity profile. Further, the ratings factor in the strong parentage of Apollo Hospitals Enterprise Limited (AHEL) along with its promoters, holding a 25% stake in IMCL. The entity has significant operational, financial and managerial linkages with AHEL. Apollo Hospitals is among the leading healthcare players, operating one of the largest hospital chains in the country. However, the ratings remain constrained by the geographical and asset concentration risks, as IMCLs operations are concentrated across two hospitals in the National Capital Region (NCR). Like other entities in the sector, IMCL remains exposed to regulatory risks, with previous restrictions imposed by various authorities. The ratings also factor in the competitive pressures and the necessity to retain medical talent in an ever-evolving market. Incorporated in 1988 as a JV between Apollo Hospitals Enterprise (AHEL) and the Delhi Government, Indraprastha Medical Corporation (IMCL) is a 749-bedded, super speciality tertiary care hospital in New Delhi and Noida. The scrip gained 3.09% to currently trade at Rs 415.30 on the BSE.
