New Delhi, May 22 (UNI) The Supreme Court today issued notices to the respondents including the Andhra Pradesh Government on a petition filed by US based Bt cotton seed major M's Mahyco Monsanto Biotec India Limited challenging the Monopolies And Trade Restrictive Trade Practices Commission (MRTPC), directing the company to reduce its trait fee on cotton seeds.
A vacation bench comprising Mr Justice Arijit Pasayat and Mr Justice R V Raveendran also issued notices on an application for interim stay against the impugned order.
The MRTPC had directed the company to bring its trait fee in India at par with the rates it is charging in other countries including China. The company is charging between Rs 1600 to 1800 for a packet of 450 gms of seeds in Andhra Pradesh while the cost of production in US is Rs 650 per acre trade value.
Such exorbitant rates have put the farmers in debt trap leading to suicides. In China the company is charging the trade fee as low as Rs 40 per 450 gms packet.
The petitioner company has also challenged the contention that it was not entitled to have any royality as the cotton seed was not patented in India.
UNI AKS/SC SI VC1359
A vacation bench comprising Mr Justice Arijit Pasayat and Mr Justice R V Raveendran also issued notices on an application for interim stay against the impugned order.
The MRTPC had directed the company to bring its trait fee in India at par with the rates it is charging in other countries including China. The company is charging between Rs 1600 to 1800 for a packet of 450 gms of seeds in Andhra Pradesh while the cost of production in US is Rs 650 per acre trade value.
Such exorbitant rates have put the farmers in debt trap leading to suicides. In China the company is charging the trade fee as low as Rs 40 per 450 gms packet.
The petitioner company has also challenged the contention that it was not entitled to have any royality as the cotton seed was not patented in India.
UNI AKS/SC SI VC1359
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