MRTP verdict against Monsanto hailed

Hyderabad - Andhra Pradesh Chief Minister Y.S. Rajasekhara Reddy Thursday welcomed the verdict of Monopoly and Restrictive Trade Practices (MRTP) Commission directing Mahyco Monsanto and other companies not to charge huge amounts from the farmers.

Hyderabad - Andhra Pradesh Chief Minister Y.S. Rajasekhara Reddy Thursday welcomed the verdict of Monopoly and Restrictive Trade Practices (MRTP) Commission directing Mahyco Monsanto and other companies not to charge huge amounts from the farmers.

MRTP in its order pronounced earlier in the day, directed Mahyco Monsanto Biotech-India Ltd., Mumbai not to charge the trait value of Rs.900 for a packet of 450 grams for Bt cottonseed, during the pendency of the case.

The multinational seed company was directed to fix the reasonable trait value on par with the value being charged by the parent company in the neighbouring countries like China.

The company was directed to give effect to these orders within a month.

The state government had filed public interest litigation on behalf of the farmers alleging restrictive trade practices on the part of Mahyco Monsanto Biotech-India Ltd, Mumbai, Monsanto Company, US and their four other companies.

The state government had prayed a temporary injunction restraining the respondents from collecting Rs.1,250 per 450 grams for Bt cotton seed from the farmers (later on reduced to Rs.900).

The chief minister reiterated firm commitment of his government to ameliorate the living conditions of the farmers, and cautioned against those who work against the interests of the farmers.

'We feel it our bounden duty to protect the interests of farmers first, and take up their concern about the heavy royalty being charged by Monsanto Company for the Bt. cotton seed,' he said in a statement here Thursday night.

He said the verdict was a great respite for farmers of not just the state but of the entire country.

Recent press releases on India PRwire

World Sparrow Day WSD 2017 Thoughts from JMA Pilani Rjasthan

The association between humans and the house sparrow dates back to several centuries and no other bird has been associated with humans on a daily basis like the house sparrow.

Duravit AG sells approx. 20,000 bathrooms at ISH

The designer bathroom manufacturer is supplying toilets and washbasins for a major Indian project

Enstoa Grows Presence in India and Southeast Asia

With infrastructure projects in India on the rise, Enstoa boosts physical presence in the region to drive efficient investment and management of capital projects

LexisNexis India expands its Lexis® Practical Guidance portfolio with a new module on Alternative Dispute Resolution

Complete practical guidance from expert practicing lawyers to help you increase productivity, improve practice efficiency and maximize billable hours

"Private Sector is doing exuberantly well in Education": said Union HRD Minister Prakash Javadekar at LPU

Hon'ble Minister compared LPU with great Nalanda University of yester years -Hon'ble Minister was addressing LPU students & staff members during LPU's Management Conclave-2017 and Annual Honouring Ceremony

New Prefeasibility Report Released On a Shrimp Processing Plant

The global shrimp production reached 4.25 Million Tons in 2015 with the market growing at a CAGR of 4.7% during 2008-2015. This report on a shrimp processing plant can help the reader to formulate suitable business and marketing strategies, overcome market challenges and hence build a successful business in the market.

India's pride Mulshi Springs Natural Spring Water to be sold over all GCC (Gulf Region) countries by Middle-East beverage giant Masafi

Masafi, the beverage giant of the Middle-East Asia has signed a deal with Mulshi Natural Spring Water to distribute the luxury brand in the entire GCC region. The Masafi-Mulshi deal is for all GCC. The Cooperation Council for the Arab States of the Gulf is known as the Gulf Cooperation Council. GCC, is a regional intergovernmental political and economic union consisting of...

LPU gave Rs One Lakh Award to its World Cup Shooting Medal-Winner Student

LPU student Amanpreet Singh is now targeting to win Tokyo Olympics Medal -Recently, Amanpreet has won silver medal in the 50m free pistol event at the world cup organized by International Shooting Sports Federation (ISSF)

IDprop opens up new avenues for interior designers to explore and work on interesting projects!

New avenues for interior designers who dare to dream big!

Axiom Real-Time Metrics celebrates the expansion of its operations in Asia, and the establishment of its office in Beijing, China

Axiom Real-Time Metrics, the premier provider of eClinical software solutions and services to small to mid-sized life sciences organizations, is celebrating the further expansion of its international footprint with the establishment of its office and team in Beijing, China.

Journalists and Bloggers
Visit India PRwire for Journalists for releases, photos, email alerts and customized feeds just for Media.