Financial Daily from THE HINDU group of publications
Wednesday, May 31, 2006
Financial Daily from THE HINDU group of publications Wednesday, May 31, 2006 |
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Corporate
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Courts/Legal Issues Agri-Biz & Commodities - Seeds Monsanto moves SC on Bt cottonseed price order Our Bureau
Hyderabad , May 30 The Monday order of Andhra Pradesh Government mandating Bt cottonseed companies from selling the seed below Rs 750 (including the trait value) on a 450-gm packet has taken an interesting turn with Mahyco Monsanto Biotech (India) Ltd, which owns Bt cotton technology, taking a tough stand clarifying that technology fee (trait value) remained unchanged at Rs 900. The company said it moved the Supreme Court on Tuesday, appealing for a stay on the order.
`Violating MRTPC order'
Reacting to the Government Order on Tuesday, Ms Sarita Bahl, Senior Manager (Public Affairs) of the company, said the Government Order was illegal and arbitrary as "the action is in violation of the Monopolies and Restrictive Trade Practices Commission's order". She also reminded that the company had filed a petition with the Supreme Court, challenging the order. "It is pending adjudication," she said. Besides, the company had time till June 10 to respond to the Commission's ruling on reviewing the technology fee. "The stand taken by the AP Government will have an adverse impact on the flow of new technologies and investments in the country," she said here in a press release.
More Stories on : Courts/Legal Issues | Seeds | Cotton | Bio-tech & Genetics
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