Hydroxychloroquine / HCQ Covid-19 and India

When Donald Trump requested Modi to release Hydroxychloroquine [HCQ] consignments then it was a wonder and mystery.  Why USA approached India? It is believed that HCQ is the wonder drug which is the potential weapon against COVID-19. India manufactures 70% of the world’s supply of hydroxychloroquine. The country has a production capacity of 40 tons of hydroxychloroquine (HCQ) every month, implying 20 crore tablets of 200 mg each. Chloroquine, which was discovered in 1934, is a synthesised variant of quinine.

Bengal Chemicals and Pharmaceuticals Limited [BCPL]

The Kolkata-based Bengal Chemicals and Pharmaceuticals Limited, whose founder was Acharya Prafulla Chandra Ray [Acharya] was the only public sector unit that used to manufacture this anti-malarial drug in India. HCQ contains Hydroxychloroquine Sulphate. BCPL has stopped the manufacturing of Hydroxychloroquine Sulphate and thereby HCQ decades ago and had started manufacturing Chloroquine Phosphate. The new drug Chloroquine Phosphate is equally effective as an anti-Malaria drug. HCQ is not a vaccine, Its a medicine. It is used for the treatment of Corona affected patient. On 10 Apr 2020 BCPL got clearance from drug control authorities to manufacture Hydroxychloroquine once again. BCPL has the capability to churn out 10 lakh hydroxychloroquine tablets per day.

Acharya the father of Indian chemistry, started Bengal Chemicals in 1901 with the capital of Rs 2 lakh. During his tenure, he never took any salary from the company. From having its first and second factories in Kolkata’s Maniktala in 1905 and the northern suburbs of Panihati in 1920, it set up a third factory in Mumbai in 1938. The Management of Bengal Chemical was taken over by the Government of India and the Union Government nationalized the Organization on December 15, 1980. A new BCPL as a Government Company was launched on March 27, 1981.

Acharya Sir Prafulla Chandra Raychowdhury (2 Aug 1861 - 16 Jun 1944) 

With a capital of about Rs. 700, Acharya started the venture as a laboratory in 1892 in the name of Bengal Chemical Works and presented its herbal products before the Indian Medical Congress’ 1893 session held in Kolkata. He got a DSc degree from Edinburgh University in 1887 and started teaching chemistry at Presidency College.  Acharya authored, among other books, the ‘History of Hindu Chemistry – From the Earliest Times to the Middle of the Sixteenth Century AD’, a book that documented India’s indigenous chemical practices starting from the Vedic era. Ray retired in 1936 at the age of 75 and died at the age of 82.

Ref. Wikipedia - Prafulla Chandra Ray

Role of Technology in education and Business

Role of Technology in Education Because of Internet every knowledge is at our fingertip. He who wants to know can gain any knowledge by surfing internet. Modern means of communication has shrunk the world. Contacting any person in any part of the world is possible from the laptop at the most cost efficient way. Teaching methods have changed drastically. Now students can learn with the help of audiovisual techniques whereby understanding of the subject is very easy. Experts can deliver lectures through video conferencing devices and much larger group of students can participate in it. The queries of the students can be answered instantly over the video conference. Notes, thesis, study material can be down loaded from various educational sites free of cost.

Role of Technology in Business E-commerce is the new mantra for carrying out business without any physical boundaries. Because of the internet technology a new concept of virtual business has emerged. Now there is no need to invest in physical place of business. any one can start his own business from anywhere. This will enable prosperity at the village level. Because of e-commerce transfer of money is at a click of a button. Internet banking facilities are available at every village to assure safe transfer of money at high speed and cost effective way.

Board Meetings Through Video Conferencing.

Matters which cannot be dealt through video conferencing

• Approval of Financial statements
• Approval of Board of Directors report

General Rules regarding quorum, venue and participation

• Every director has to attend at least one Board Meeting in a financial year by participating in person (physical attendance). As per the Companies Act 2013 read with Secretarial Standard SS1, a Director can attend all the meetings in a year through Video Conferencing and may not be present physically in any of the Board meetings. 

• Participation through video-conferencing will be counted for the purpose of quorum.

• Venue specified in notice shall be taken as the venue of the meeting and all requisite registers to be kept at the venue.

• Registers required to be signed by directors shall be deemed to have been signed by directors who are participating through electronic means once they give their consent and same is recorded in the minutes.

• No person other than directors, Company Secretary, Chairperson and persons whose presence is required pursuant to a legal provision shall be allowed access to the place where any director is attending the meeting either physically or through video conferencing.

Requirements regarding notice

• Notice to contain details regarding availability of facility of video conferencing.
  

Duties of Directors

• Director to intimate, in writing, to Chairperson/CS regarding his intention to participate through video conferencing, at least 3 days in advance (unless waived by Chairperson), else he will be taken as participating in person.

• At the beginning of the meeting, all directors participating through video conferencing to state on record – their name, location, confirmation regarding clarity in hearing/seeing other participants, confirmation regarding receipt of agenda of meeting and confirmation that no one other than the concerned director is attending or having access to the proceedings of the meeting at their location.

• To identify themselves before speaking on any agenda.

• To identify themselves before casting their vote on any motion which is objected to.

• To confirm the draft minutes within 7 days of circulation.

Role of Chairperson/Company Secretary

Functions to be discharged by Chairman

• To make roll call at the beginning of the meeting
• To make a roll call and record the votes in case any motion is objected to.
• To make roll call at the end of the meeting and after every break.
• To summarise the decisions taken during the meeting on each item of agenda transacted along with the voting details, at the end of the meeting.

Functions to be discharged by Company Secretary

• To maintain record of requests received from directors regarding their intention to participate through video conferencing.

Functions to be discharged either by Chairperson or Company Secretary

• After roll call, to call out the name of persons who are attending meeting through permission of Chairperson and confirm regarding presence of quorum.
• To state the identity of speaker of agenda, if the speaker fails to do so.

Requirements regarding minutes and secretarial records

• Video recording of the part of the meeting where chairperson summarises the decisions taken at the meeting shall form part of the secretarial records and be preserved by the company.
• Minutes shall disclose the particulars of the directors who attended the meeting through video conferencing or other audio visual means.
• The draft minutes of the meeting shall be circulated among all the directors within 7 days of the meeting either in writing or in electronic mode as may be decided by the Board.
• Directors to confirm the minutes within 7 days, else their confirmation will be presumed.
• Thereafter, minutes to be entered in minutes book.

Credits: S.Dhanapal