Kalyanpur: Now, where did Cyclops go?

At 4.40 pm one Tuesday, St Luke's hospital in Bradford, Masschusetts receives a 37-year-old accident victim. The hospital performs the requisite diagnostics-an X-ray and assorted scans. In the next three minutes, a radiologist in Whitefield, Bangalore receives the scanned images, studies them, and sends in his report. The entire process, from the time the patient was admitted, has taken 20 minutes.

Meet India's only teleradiologist, Dr Arjun Kalyanpur, CEO of Teleradiology Solutions, visiting Assistant Professor of Radiology at Yale, and consultant to 12 American hospitals. ''There is a 25 per cent gap between demand and supply of radiologists in the US,'' says Kalpanpur.

Availability apart, there are other factors that make it for US hospitals to tap Indian radiologists: the cost is over 30 per cent lower in India and the time difference makes it easier for them to look to India. It isn't easy becoming an offshore radiologist: to offer services over the wire radiologists need to be licensed in the US, comply with the American Health Insurance Portability and Accountability Act, and, given the litigious nature of doctor-patient relationships in the US, take (malpractice) insurance cover. These apart, Kalyanpur has a broadband connection, a back-up (after some roadwork downed his connection for 24 hours), and complete power back-up.

Kalyanpur has already been approached by several venture capital firms wishing to get into the 'doctors call centers' business. ''Clinical Process Outsourcing, unlike Business Process Outsourcing is a high-end operation,'' says Kalyanpur. ''It is a distinct possibility bas more doctors of Indian origin come back to India.'' Meanwhile, the lone ranger soldiers on with his X-ray vision.

-Venkatesha Babu

BEAN COUNTING
Activist Accountants
The apex body of CAs wakes up from its slumber to crack the whip on some of its members.

ICAI: Policing auditors

The institute of chartered Accountants of India isn't usually known for speed. That's why the recent suspension of two partners from accounting firm C.C. Choksi, another one from A.F. Ferguson, and a move towards rotation of auditors have surprised the industry. People in the know point out that the institute's alacrity may have something to do with the Naresh Chandra Committee report, which is due in October this year. The committee had been constituted by the government to sort out issues relating to, among other things, the independence of auditors.

Ashok Chandak, President of the Institute, which in recent times has been relegated to conducting ca exams rather than policing auditors, thinks all's well. ''Everything is in place with regards to rules, what is needed is stricter implementation,'' says he. (That may well be a dig at the Department of Company Affairs, with which the institute has been having a quiet row.) ICAI's proposal to rotate auditors isn't winning approvals. Says Kashi N. Memani, Chairman and MD, Ernst & Young India: ''This would increase the risk of audit failure and push up audit cost.'' The issue will come up at ICAI's next meeting. Hope that doesn't put an end to the institute's new-found activist zeal.

-Seema Shukla

WHO'S NEXT
The Long Goodbye
It's still five years away, but everyone wants to know who'll succeed Ratan Tata.

Noel Tata: Will he, won't he?

K. Dadiseth: Invaluable experience

Ishaat Hussain: The trouble shooter

When I turn 65 this December, I will step down from my executive function, which is today only in Tata Sons, where I am the executive chairman. But I will remain the non-executive chairman and we will function the way we have over the years.... At the age of 70, I will step down and away from the group, and there will be somebody who will take over as the chairman of Tata Sons...

Ratan Tata, chairman of Tata group, in an interview to BT, March 31, 2002 so, who'll take over the reins of the Rs 41,500 crore Tata Group after Ratan Tata? There's Noel Tata, a dark horse 12 months ago, but now a contender. He's 45, has the right surname, is the son-in-law of the largest shareholder in Tata Sons, Pallonji Shapoorji Mistry, and is CEO of the group's retail company Trent. And retail competitiveness will play a key role across the group's businesses in the future. However, there is a school of thought that he may have to wait (he is young, goes the argument) a while before taking charge of the group.

In December 2007, then, when Ratan Tata turns 70, Tata Sons may decide to appoint another chairman till such time that Noel Tata is ready for the job. One name that has done (and continues to do) the rounds is Keki Dadiseth, the former chairman of HLL and now a Director on the board of parent Unilever. He is already on the board of Tata Group company Indian Hotels, and his experience in working for a MNC at the global level will surely be considered valuable.

The third name in the ring is reportedly that of Ishaat Hussain, one of the three key executives who constitute the Group Executive Office and the group's main trouble shooter in L'affaire Tata Finance. Still, five years is a long time and anything can happen in that period. Watch this space.

-Roshni Jayakar

Union Industries Minister Murasoli Maran: Just what do we want?

BORDERLESS WORLD
Service Capital To The World
India has lots to lose, and gain, from the ongoing General Agreement on Trade and Services negotiations. And it has gotten off to a bad start.

The services sector accounts for 51 per cent of India's Gross Domestic Product (GDP) and services brought in Rs 63,700 crore in exports in 2001-02. It's a pity then that India doesn't seem to be taking the gats talks in Geneva seriously. The scope of gats is 161 services, everything from education to consulting to healthcare to software. The government maintains it has time till 2005 to put its cards on the table but it is already late. Its request list-areas where it wants greater market access-was due on June 30, 2002. The country could be late with its the offer list-what the country is willing to give in return-too (deadline: March 2003). Analysts say the delay is because the Indian services industry doesn't understand the issues at hand. That can explain the inertia. It doesn't condone it.

-Ashish Gupta

IDBI
Desperately Seeking...
Can IDBI sell part of its stake in IDBI Bank in time?

IDBI's Vora: Where's the buyer

As this magazine went to press, less than a week remained to the Reserve Bank of India deadline to IDBI to reduce its stake in IDBI Bank from 58 per cent to 49 per cent. On September 21, the board of the financial institution considered a proposal from investment bank JP Morgan. The I-bank bid for 26 per cent of IDBI Bank, but insisted on an exit option with a 15 per cent return on its investment in the event of a merger of IDBI bank and IDBI, and a tag-along clause wherein it would have the right to sell its stake (or part of it) if IDBI did any part of its. IDBI isn't willing to dilute its stake below 49 per cent, but is willing to consider the put option. By the time this magazine hits the stands, IDBI would have conveyed its decision to JP Morgan. The financial institution's Chairman P.P. Vora was unavailable for a comment and JP Morgan refused to speak about its bid. Still, if the deal goes through, Morgan will gain by acquiring a piece of a commercial bank. And the money will come in handy for the ailing IDBI.

-Roshni Jayakar