Sreelakshmi24’s Blog

where life is all about learning

Posts Tagged ‘News

The Muthoot Group opens its 1000th branch at Vazhakkala

leave a comment »

The Muthoot Group, A Muthoot M George Enterprise, today announced the opening of their 1000th branch at Vazhakkala, Kochi, Kerala. The 122 year old Rs. 20,000 crores business conglomerate today has diverse interests in 16 business verticals ranging from Financial Services, Infrastructure & Housing, Information Technology, Power Generation, Hospitality to Healthcare & Education. The group has a presence in 20 states across the country and international presence in the UK and UAE.

Speaking on the occasion Mr. M. G. George Muthoot, Chairman, The Muthoot Group, A Muthoot M George Enterprise, said “It is a matter of extreme pride for us to have grown from 450 to 1000 branches in a span of less than three years. With every new branch, and with the addition of every new Muthoot customer, we re-iterate our commitment to ensuring trustworthy flawless services coupled with our unblemished track record of 122 years. We aim to operationalize 1500 branches by the end of FY 2010.” “Our steadfast resilience and complete dedication towards our customers spread across India and even overseas has provided us the zeal to innovate constantly and to offer customer-centric products & services,” he added.


Mr. M. G. George Muthoot, Chairman, The Muthoot Group, A Muthoot M George Enterprise addressing the media at the opening of the group’s 1000th Branch

The group established in the year 1887 by Mr. Ninan Mathai Muthoot, whose ‘2 elephants in unison’ logo denotes strength & stability, The Muthoot Group, A Muthoot M George Enterprise firmly believes in its values of honesty, integrity and determination.

The financial services division of the Group, Muthoot Finance was established in 1939 under the leadership of Mr. M. George Muthoot. It offers multiple services including retail gold finance, deposits, money transfer, insurance, precious metals and foreign exchange to name a few. Muthoot Finance has served over 250 million customers and has a customer footfall of around 30,000 every day seeking retail gold finance. The vast branch network of Muthoot Finance enables the Group to cross and up-sell various products and services of the other verticals of the Group.

Muthoot Finance is the pioneer in ‘Retail Gold Finance’ and is the largest player in this segment worldwide. In continuation of its tradition in revolutionizing the retail gold finance, it has conceptualized ‘5-Minute Gold Power Loans’. This is the fastest and the most hassle-free way to avail loans at the most attractive rates against Gold.

The Muthoot Group, A Muthoot M George Enterprise is actively looking at opportunities for inorganic growth in healthcare, travel related services and entertainment. The Hospitality division of the group has plans of launching a 7-Star Deluxe Hotel in Kochi amongst its other plans for the current fiscal. The Group has also launched its global arm “Muthoot Global“, which mainly deals in Wealth Management, Cash Transfer & Gifting and has a presence in the UK and UAE and plans to expand the network and diversify its foreign operations in the immediate future to more shores outside the country.

For more information, please visit www.muthootgroup.com

Piramal Life Sciences initiates Phase II trials of P276 for Mantle Cell Lymphoma

leave a comment »

Piramal Life Sciences Limited (PLSL) announced that it has started phase II trial in USA for its lead cancer compound P 2 76-00 to treat Mantle cell Lymphoma (MCL) and it is the second IND approved by the US FDA for this compound.

MCL is a subtype of non-Hodgkin lymphoma that has 59,000 new cases in the United States each year. Despite the availability of novel agents, MCL remains an incurable disease for most patients, with a median survival of 3 to 5 years. High-dose chemotherapy followed by transplantation has resulted in improvement in response rates and survival compared with conventional therapy, but relapse is nearly universal and not all patients are candidates for this option of aggressive treatment. Therefore, there is still a need for a targeted, safe and effective therapy.

In most of the MCL cases, genetic and epigenetic events result in over expression of cyclin D1 which provide tumour cells a selective growth advantage. Inhibition of cyclins/Cdks, therefore, offers an attractive mechanism for treatment of this cancer. P276 is a new chemical entity that inhibits Cdk4/cyclinD1 and has been found to be well tolerated and safe in two phase I clinical studies carried out in Canada and India. A number of sites in USA will participate in this phase II clinical trial including University of Wisconsin, Madison, where the clinical study will be coordinated by Dr Brad Kahl -a world-renowned authority in Mantle cell Lymphoma.

Dr. (Mrs.) Swati Piramal, Vice Chairperson, PLSL said, ” Piramal Life Sciences aims to reduce the burden of disease by finding new and affordable cures for unmet medical needs. It is a proud moment for Indian research and an important milestone because a drug discovered in India, with global patents is now being tested at world- renowned cancer hospitals in the USA.”

Dr Somesh Sharma, Managing Director, Piramal Life Sciences, stated, ” Piramal Life Sciences is committed to the Group’s values – knowledge, action and care. We nurture breakthrough thinking and follow it up with dynamic, nimble-footed delivery to impact lives of millions of people. The initiation of phase II clinical trials of P276 in mantle cell lymphoma patients in the US further highlights PLSL’s capabilities in developing a compound to address unmet medical needs worldwide.”

For further information, visit http://www.piramallifesciences.com

Written by sreelakshmi

17 January, 2009 at 12:21 pm

Existing board to stand by EMRI

with one comment

The existing board of members of Emergency Management and Research Institute, Dr. Jayaprakash Narayan, National Co-ordinator, Lok Satta, Mr. K. Krishnam Raju, Chairman, Suchitra Group, and Prof. Raj Reddy, Carnegie Mellon University, after the resignation of other members including Dr. A.P.J. Abdul Kalam as Chairman Emeritus yesterday issued a joint statement saying that they will stand by the cause of EMRI under the current difficult circumstances. Mr. Rajat Gupta, Chairman, ISB Board is out of the country but he continues to be a member of the EMRI board.

The following is the text of the joint statement:

The unfortunate developments in the Satyam Computers have created a difficult situation for the non-profit organisation EMRI which was founded by the family of Sri Ramalinga Raju. In recent days, Dr Abdul Kalam, Chairman Emeritus and five other directors have resigned from the Governing Board of EMRI.

Under the circumstances, the easiest course of action for the remaining members of the Board is to quit as directors, and let events take their own course. All of us are purely honorary members, and we have never accepted any remuneration or sitting fee. We have been giving time to EMRI as a labour of love, and in the belief and knowledge that the pioneering work done by EMRI is vital to provide emergency relief and save lives and limbs. EMRI’s chief contribution to India is to raise awareness and help to establish a nation-wide, safe, reliable high quality emergency relief system that a modern, civilized society deserves and needs.

Therefore, we, the remaining members of the Board have decided to continue to serve on the Board and help EMRI carry out its responsibilities. If the Governments at the union/ state levels feel that the emergency relief can be best provided by taking over EMRI under the laws of the land, we will do everything possible to facilitate such a transition. Meanwhile, we will do everything possible to raise resources to fulfil EMRI’s obligations and continue and expand the excellent work that is being done. We believe that the baby should not be thrown out with the bath water, and the acts of commission or omission of founders of EMRI in other organizations should not undermine public interest in the vital area of emergency relief and management.

We also believe that all financial and operational details of EMRI, including the MOU’s entered into with various state governments should be made public so that people can judge for themselves the work being done. Accordingly, the chief executive has been requested by us to make available all information public, especially every bit of information related to public money received from any agency / state/ union government.

We are also in the process of appointing an independent agency to go into all financial and operational details of EMRI, so that the Board and the public are assured that highest ethical standards are observed in managing the EMRI.

We urge all sections of the public to extend support to the Members of the Governing Board in fulfilling the mission of EMRI undaunted by the problems that have cropped up outside this non-profit organisation.