Maharashtra Hybrid Seeds Company Ltd (Mahyco), the seed partner of multinational agro-biotech major Monsanto Corporation, has moved the Delhi High Court against a Central Information Commission order seeking details of the safety test data generated during clinical trials of its genetically modified (GM) brinjal, the first GM edible crop to be introduced in India.
358 of 413 drug patent applications for the disease in India are from top multinationals. An analysis of pharma patent applications pending with the patent office by the group, which did not wish to be identified, has put the number of cancer drug patent applications at 413. Of these, 358 came from top multinationals like Novartis, Aventis, Bristol Myers Squibb, Pfizer, Boehringer, Roche and Abbot.
Sam Pitroda-backed Vavasi Telegence's request for unused radio frequency to be allotted to launch mobile services across the country is unlikely to be met by the department of telecommunication because it said international technology specifications for this wireless technology do not exist. Instead, DoT is considering the option of allotting the company spectrum in the 400 to 430 MHz band, radio frequencies that are currently not used for mobile services in India.
Tasked with gathering over Rs 6,87,715 crore (or nearly $168 billion) as revenue receipts in 2008-09, the two agencies the Central Board of Direct Taxes (CBDT) and the Central Board of Excise and Customs (CBEC) will be headed by a succession of bureaucrats with unusually short tenures.
Last month, Barun K Gorain, a non-resident Indian with Canadian company Barrick Gold Corporation came to Delhi with a $10-million proposal for suggesting a viable method to recover silver from Barrick's gold mines in Argentina.
Mauritius has rejected compensation of Rs 500 crore to plug loopholes in double taxation avoidance treaty. Mauritius accounts for nearly half of all foreign direct investment (FDI) inflows to India. With the tightening of tax laws, India attempted to amend the treaty. Due to the treaty, India was suffering over Rs 4,000 crore loss annually for some years in terms of revenue foregone on account of the capital gains exemption for investors routing their funds through Mauritius.
Till some months ago, when several doctors led by Naresh Trehan left the hospital, the same area used to resemble a railway station -- such was the rush. It was a regular feature for patients to wait a couple of hours before the appointment with the doctors came through. Shivinder Mohan Singh, managing director of Fortis Healthcare which acquired the hospital from Escorts Ltd for Rs 585 crore (Rs 5.85 billion) in 2005, insists this only shows the efficiency of the doctors.
The tax holiday awarded by the Union Budget to healthcare and IT sectors has been greeted with enthusiasm. Major hospital chains had already announced plans to expand in tier 2 cities. The tax holiday has proved to be an added incentive. India needs 3.1 million new hospital beds in the next 10 years. The tax-holiday benefits are available for all new hospital projects except the ones coming up in cities like Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore & Ahmedabad.
Some large companies said the measure would broaden and deepen the equity cult in the country, but feel that a blanket 25 per cent minimum public shareholding norm should not be applied indiscriminately to all companies. The ministry had floated the paper on February 1 and asked for public comments by the month-end. The minimum public shareholding limit now is 10 per cent.
Even as India is fast turning into the diabetes capital of the world, multinational drug companies are busy patenting new-generation diabetes medicines for exclusive marketing rights in the country.
Even as the debate over off-Budget liabilities continues, former finance ministry bureaucrats and leading economists say it's time the government went beyond the targets in the Fiscal Responsibility and Budget Management Act.
The $100-million fund, which has the option to raise a further $200 million, will benefit small and medium enterprises engaged in defence production.
Punjab is opposing Centre's area-based tax exemption policy while the underdeveloped states are lauding it as a "well deserved" package.
NPPA will begin analysing pricing trends of 74 bulk drugs that come under the government-notified price-controlled list every quarter.
The European Union has drawn up an initial negative list of 416 tradeable items on which it does not intend to provide duty cuts as part of the proposed free trade agreement with India
Move aimed at reducing tax exemptions ahead of Budget 2008-09.
Deals indicate growing interest of private equity firms in India's pharma and healthcare segments.
At present, the FDI limit for FM radio companies is 20 per cent. A senior Trai official has indicated that it could recommend an increase between 26 and 74 per cent.
India's booming mobile services market will see investments of over Rs 100,000 crore (around $24 billion) by 2010, the fastest investment ramp-up seen in any telecom market globally even as analysts predict a bruising battle that will see tariffs fall sharply.
The move brings an additional 15 per cent of the retail medicine market worth over Rs 4,000 crore (Rs 40 billion) under direct price control. All domestic companies, including drug majors like Ranbaxy, Cipla, Lupin and Dr Reddy's, have syrups and tonics in their product portfolio.
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