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The Print
10 hours ago
- Business
- The Print
ED takes lesson from Datar & Venugopal episodes, director's nod now must to summon advocates
The move followed strong condemnation by several associations of lawyers of the ED summons issued to two senior advocates in connection with a money-laundering probe. New Delhi: The Enforcement Directorate (ED) Friday issued a circular to its officers instructing them not to summon any advocate as part of the investigation, as it could amount to a violation of the Bharatiya Sakshya Adhiniyam (BSA). The ED circular, a copy of which has been seen by ThePrint, further said that, in exceptional circumstances, when summons have to be issued, it can only be done after the approval of the agency director. From Section 132, 'it is amply clear that a legal practitioner cannot be compelled to disclose any communication made to him in the course and for the purpose of his professional service as such legal practitioner, by or on behalf of his client unless with his client's express consent. However, proviso to Section 132 of the BSA, 2023 has carved out certain exceptions,' said the circular issued by ED's legal wing to field officers. 'In view of the above, it is directed that no summons shall be issued to any advocate in violation of Section 132. Further, if any summon needs to be issued under the exceptions carved out in proviso to Section 132 of the BSA, the same shall be issued with the prior approval of the Director, ED,' it added. The development comes at a time when the ED has drawn criticism from the legal community over summoning senior advocates Arvind Datar and Pratap Venugopal in its probe into dealings of Care Health Insurance (CHIL) and its parent company, Religare Enterprises (REL). Both summonses have been withdrawn. In a letter dated 16 June, the Supreme Court Advocates-on-Record Association expressed 'strong disapproval' of the summons to Datar and said it reflected 'a disturbing trend of investigative overreach'. ThePrint had earlier reported that the ED has been probing money laundering allegations against these firms, including the transfer of shares worth crores to former CHIL non-executive chairperson and REL executive chairperson Rashmi Saluja despite the request being rejected by the Insurance Regulatory and Development Authority of India (IRDAI). The former board of CHIL cited an opinion that it had sought from Datar to grant shares to Saluja. According to the ED, Datar said IRDAI's approval was not needed since the shares were being granted in her capacity as an REL employee, and not CHIL. Separately, Venugopal was summoned in his capacity as the former independent director of CHIL to understand the circumstances behind the share transfer, the ED spokesperson said. In a statement Friday, the ED spokesperson said, 'In view of the fact that Shri Pratap Venugopal is a Senior Advocate in the Hon'ble Supreme Court, the summons issued to him has been withdrawn and same has been communicated to him. 'In the said communication, it has also been stated that if any documents will be required from him in his capacity as an Independent Director of CHIL, the same will be requested from him to be submitted by email.' (Edited by Sanya Mathur) Also Read: ED's now-withdrawn summons to Arvind Datar: The case, controversy & SC advocates body letter
Associated Press
29-04-2025
- Health
- Associated Press
Alcresta Therapeutics Announces Enrollment of First Patient in Clinical Trial Evaluating Use of RELiZORB in Pancreatitis Patients at Massachusetts General Hospital
WALTHAM, Mass., April 29, 2025 /PRNewswire/ -- Alcresta Therapeutics, Inc., a leading commercial-stage company focused on developing and commercializing novel enzyme-based products, today announced that Massachusetts General Hospital (MGH) has enrolled the first patient in an investigator-initiated trial evaluating the efficacy of RELiZORB in managing exocrine pancreatic insufficiency (EPI) in tube-fed pancreatitis patients. 'We are excited about the enrollment of the first patient in this study to evaluate the potential benefits of RELiZORB use in tube-fed pancreatitis patients. Acute pancreatitis is one of the leading gastrointestinal causes of hospital admissions, and there is a growing focus on managing long-term complications of pancreatitis, which includes EPI,' said Casey Luckhurst, MD, Pancreatic and General Surgeon and Inpatient Director of Massachusetts General Hospital's Pancreatitis Treatment Center. Fat malabsorption is often associated with EPI conditions including pancreatitis, cystic fibrosis, and gastrointestinal cancers and can result in weight loss and serious gastrointestinal symptoms. For patients with fat malabsorption who require tube feeding, RELiZORB is the only FDA-cleared enzyme device designed to mimic the function of pancreatic lipase to improve absorption of fats for tube-fed patients. Studies have demonstrated that RELiZORB is safe, well-tolerated, and effective in improving fat absorption for patients with cystic fibrosis. 'The initiation of study recruitment marks an important step toward expanding the body of clinical evidence that supports RELiZORB use in Alcresta's target therapeutic areas,' said Michael Yeh, MD, Senior Vice President of Medical Affairs at Alcresta Therapeutics. 'This is one of four clinical trials evaluating the safety and efficacy of RELiZORB in malabsorptive conditions supporting our mission to improve nutritional care and outcomes for tube-fed patients living with rare diseases.' For more information about RELiZORB clinical trials, visit About RELiZORB® (iMMOBILIZED LIPASE) CARTRIDGE RELiZORB is a first-of-its-kind digestive enzyme cartridge designed to mimic the function of pancreatic lipase and is indicated for use in pediatric patients (ages 1 year and above) and adult patients to hydrolyze fats in enteral formula. RELiZORB was developed using Alcresta's proprietary enzyme immobilization technology, iLipase®, which is the digestive enzyme lipase bound to small polymeric bead carriers. RELiZORB connects in-line to enteral feeding systems. As enteral formula passes through RELiZORB, the bound lipase breaks down formula fats into an absorbable form prior to ingestion. RELiZORB was FDA-cleared in 2015 for use in adult patients and was cleared in 2017 for use in children as young as five years old. Use was expanded to pediatric patients as young as two years old in August 2023 and expanded again for patients as young as one year old in January 2025. The next-generation RELiZORB device was introduced to market in May 2024 with broader formula compatibility, an increase in the number of devices used per day and use in both continuous and bolus-feeding set ups. About Alcresta Therapeutics, Inc. Alcresta Therapeutics, Inc. is dedicated to developing and commercializing novel, enzyme-based products designed to address challenges faced by patients living with gastrointestinal disorders and rare diseases. Alcresta currently markets RELiZORB for enterally-fed patients with pancreatic insufficiency, which occurs in cystic fibrosis, pancreatic cancer, and pancreatitis, and short bowel syndrome, which is marked by significant malabsorption due to limited absorptive area as a result of resection. Alcresta is currently developing a platform application for prematurely born infants treated in the NICU. Alcresta Therapeutics, Inc. is backed by Linden Capital Partners and HealthQuest Capital. More information can be found at Internal Media Contact: Natalie Bronfin Alcresta Therapeutics, Inc. [email protected] 617-431-3600 View original content: SOURCE Alcresta Therapeutics, Inc.
Yahoo
15-02-2025
- Business
- Yahoo
RELX Full Year 2024 Earnings: Misses Expectations
Revenue: UK£9.43b (up 3.0% from FY 2023). Net income: UK£1.93b (up 8.6% from FY 2023). Profit margin: 21% (up from 19% in FY 2023). The increase in margin was driven by higher revenue. EPS: UK£1.04 (up from UK£0.94 in FY 2023). All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 2.9%. The primary driver behind last 12 months revenue was the Risk segment contributing a total revenue of UK£3.25b (34% of total revenue). The largest operating expense was General & Administrative costs, amounting to UK£1.85b (44% of total expenses). Explore how REL's revenue and expenses shape its earnings. Looking ahead, revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Professional Services industry in the United Kingdom. Performance of the British Professional Services industry. The company's share price is broadly unchanged from a week ago. We don't want to rain on the parade too much, but we did also find 1 warning sign for RELX that you need to be mindful of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
