Sunak's wife Akshata Murty decides to liquidate investment venture in UK
London (PTI), British Prime Minister Rishi Sunak's wife Akshata Murty has decided to liquidate her investment company Catamaran Ventures UK Ltd, according to official company filings with the UK's Companies House this week.
The 43-year-old businesswoman had incorporated the venture in 2013 with her husband as one of the directors, before he resigned in 2015.
According to the latest financial statement for the year ended December 2022 available for the company on Wednesday, Murty as the only director of the firm has now decided to wind down her firm as a going concern.
"During the year, the directors have decided to liquidate the Company," notes the Companies House filing statement.
"Accordingly, the financial statements have been prepared on a basis other than going concern and no adjustments were necessary in these financial statements to reduce assets to their realisable values or to provide for liabilities arising from that decision," it reads.
The value of the company's investments for the period was stated at just over GBP 3.8 million, up from just over GBP 3.5 million in 2021 and the funds becoming due to Murty amounted to just over GBP 4.6 million.
Catamaran Ventures UK Ltd has been operating as an investment vehicle for funds from her shares in Infosys, the Indian software giant co-founded by her father N.R. Narayana Murthy. However, the ventures it has invested in have not had the best run.
According to an analysis by The Times' newspaper, education start-up Mrs Wordsmith backed by Catamaran closed less than six months after receiving GBP 650,000 from the UK government's pandemic support scheme called Future Fund.
The New Craftsmen, a Catamaran-backed furniture company which closed in November 2022, also benefited from the fund. And, Digme Fitness, a boutique London fitness chain of which Murty was a director, failed in 2021.
Study Hall, an education technology business in which Catamaran has a stake, was given a government grant of GBP 349,976 via state body Innovate UK last year, prompting questions from the Opposition Labour Party benches.
Murty's investments outside Catamaran also came under the spotlight this year when it emerged she had shares in Koru Kids one of six childminder agencies in England that stood to benefit from a new Budget scheme announced by the Sunak-led government. It led to a declaration of interest inquiry by the UK parliamentary watchdog, which concluded last month that Sunak's failure to reference his wife's shares in Koru Kids arose out of "confusion and was accordingly inadvertent".
"I apologise for these inadvertent errors and confirm acceptance of your proposal for rectification," Sunak wrote in a letter to the Parliamentary Commissioner for Standards, Daniel Greenberg.
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'Low-quality' catheters supplied to West Bengal govt hospitals at high price, probe ordered
Kolkata (PTI): The West Bengal health department has launched a probe into the supplies of allegedly low-quality and locally made catheters at a high price to several government hospitals, posing a risk to the lives of patients undergoing treatment in these facilities, officials said.
Such central venous catheters (CVCs) were allegedly supplied to at least five medical colleges and hospitals in the state, defying allocation of international standard-compliant CVCs, they said.
The distribution company, which has been accused of supplying these catheters to government hospitals, admitted to the fault but placed the blame on its employees.
"We started checking stocks some time back and found these locally made CVCs in my hospital store. These catheters are of low quality as compared to those allocated by the state. We have informed the state health department," a senior official of the Calcutta Medical College and Hospital told PTI.
Low-quality catheters were also found in the stores of other hospitals, which indicates "possible involvement of insiders in the scam", a health department official said.
The low-quality CVCs were supplied by a distributor in the Hatibagan area in the northern part of Kolkata for the last three to four months, he said.
"Such kinds of local CVCs are priced around Rs 1,500 but the distributor took Rs 4,177 for each device," the official said.
A CVC is a thin and flexible tube that is inserted into a vein to allow for the administration of fluids, blood, and other treatment. It's also clinically called a central line catheter.
"An initial probe revealed that the distribution company Prakash Surgical had supplied the low-quality and locally manufactured catheters to several government hospitals instead of the CVCs of the government-designated international company.
"All the units will be tested and a proper investigation is on to find out who benefited from these supplies," the health department official said.
The distribution company blamed its employees for the supply of inferior quality catheters.
"I was sick for a few months. Some employees of the organisation made this mistake. We are taking back all those units that have gone to the hospitals. It's all about misunderstanding," an official of the distribution company told PTI.
According to another state health department official, a complaint was lodged with the police in this connection.
Asked about how many patients were affected by the usage of such low-quality CVCs, the official said, "The probe would also try to find that out".
According to sources in the health department, some of the staff of the hospitals' equipment receiving departments and some local officials of international organisations might be involved in the alleged irregularities.
