Latest news with #Mokashi
New Indian Express
03-07-2025
- Business
- New Indian Express
SAT quashes SEBI ban on former Care Ratings CEO, terms order a 'misadventure'
MUMBAI: The Securities Appellate Tribunal (SAT) has overturned an order issued by the markets regulator SEBI banning Rajesh Mokashi, the former managing director and chief executive of Care Ratings, for allegedly securing favourable ratings for a few issuers rated by his agency. The markets regulator SEBI had in April 2023 had debarred Mokashi from associating with any stock markets or market intermediaries for two years. The tribunal has also imposed a penalty of Rs 5 lakh on the Securities and Exchange Board for causing 'irreparable damages' to the appellant's reputation. The tribunal in its order dated June 27 and uploaded on its website Wednesday also said SEBI caused reputational and financial damage to Mokashi and wasted judicial time, while ignoring justice BN Srikrishna's exoneration in the ratings case. 'The SEBI action had also caused a colossal loss of judicial time and resources, as well as financial loss, and loss of further opportunities,' the order said. 'This is an unfortunate case in which the SEBI had directed Care Ratings to send the appellant on leave till completion of the forensic audit…Though the Srikrishna report had returned a categorical finding that there was no evidence to suggest that the appellant had interfered with or influenced the rating decision, SEBI embarked on another misadventure to conduct one more proceeding through its WTM,' the SAT order noted.
Indian Express
10-05-2025
- Science
- Indian Express
National Technology Day: When a modest laboratory at Agharkar Research Institute in Pune nurtured diverse startups
At a time when most Indian researchers aimed for postdoctoral positions abroad, Dr Kishore Paknikar, a distinguished scientist and former director of the Agharkar Research Institute (ARI), Pune, would nudge his students— sometimes gently, sometimes firmly — towards entrepreneurship. He believed that if their science could address real-world problems, they were also capable of translating it into products, processes, and enterprises that could serve society directly. That belief led to an extraordinary outcome. From a single laboratory in a modest government-funded institute, seven start-ups have emerged over the years — each founded or co-founded by his former students. On the occasion of National Technology Day (May 11), these ventures, ranging across diagnostics, therapeutics, sustainable agriculture, bioinformatics, and clean technologies, stand as living proof of how a research lab can become a launchpad for enterprise. 'It wasn't glamorous back then. But the idea of building something meaningful, grounded in science, was always attractive,' Dr Paknikar, who is also a visiting professor at IIT Bombay, told The Indian Express. 'If you're solving a real problem, society needs that solution, not just another publication,' he added. Several startup founders also remember the absence of any formal incubator or venture capital ecosystem at the institute. Dr Sonali Mokashi, founder of Pune-based Cerulean Enviro Tech and a former PhD student who was guided by Dr Paknikar during her doctoral research at Agharkar Research Institute in the late 1990s, recalled her journey prior to setting up a startup. 'At that time arsenic, the deadly slow poison, had created havoc in nine districts of West Bengal. The urge was to find a solution applicable in the field for the removal of arsenic,' she remembered, and added that the systematic manner in which Dr Paknikar guided her helped set up an arsenic filter unit at ARI. Soon, the Department of Science and Technology under the Central Government wanted three such plants to be set up in Chhattisgarh. Working with 'Water' became a subject of interest and she set up a water testing laboratory. Later, Mokashi received an Indian patent for inventing a process of wastewater recycling, and that was a trigger to set up her startup. 'It hasn't been an easy journey, but we are now recognized as a technically competent company. Our employees receive thorough training, and we are strongly committed to social responsibility,' Dr Mokashi stated. Startups often need access to experienced mentors for advice and support. Dr Paknikar told The Indian Express that he would encourage his students to participate in national innovation competitions like the India Innovation Pioneers Challenge while still pursuing their doctoral work. 'These contests served as a gateway, helping students convert their thesis ideas into viable business plans. Once they received mentorship and seed funding from government-supported programmes, their startup journeys took flight,' Dr Paknikar, who mentored over 40 PhD students, said. Dr Prabhakar Kulkarni was among the first PhD students to be guided by Dr Paknikar. 'As a student of Dr Paknikar, I came to truly appreciate the importance of technology entrepreneurship,' Dr Kulkarni, who is the director of NeoDx Biotech Labs, said. The Bengaluru-based startup develops innovative molecular diagnostic products, and over the years, NeoDx has extended its support and expertise to companies developing point-of-care diagnostic devices, RT-PCR kits for infectious diseases, and similar innovations. 'Innovation thrives when supported by society. Those who recognise and act on this can make a meaningful impact,' Dr Kulkarni remarked. All it takes is a visionary mentor, a group of curious minds, and courage to turn research into responsibility. Dr Paknikar's other students also went on to set up startups, including WeInnovate Biosolutions Pvt Ltd, Greenvention Biotech Pvt Ltd, Intignus Biotech Pvt Ltd, Novetrics Solutions Pvt Ltd, and Mrityunjay Herbals. India is home to the third-largest startup ecosystem in the world, with over 1,17,000 startups officially recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of early 2025. Of these, over 4,000 are in deep-tech sectors like biotechnology, clean energy, advanced materials, and artificial intelligence. The Biotechnology Industry Research Assistance Council (BIRAC) alone has supported over 1,600 biotech startups through its various schemes, with several having emerged from academic laboratories. Anuradha Mascarenhas is a journalist with The Indian Express and is based in Pune. A senior editor, Anuradha writes on health, research developments in the field of science and environment and takes keen interest in covering women's issues. With a career spanning over 25 years, Anuradha has also led teams and often coordinated the edition. ... Read More
