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Nuziveedu seed's charge overruled by Monsanto
27 Apr '06
1 min read
US biotech major Monsanto refuted charges of restrictive trade practices leveled against it by its sub-licensee Nuziveedu Seeds Ltd.
Monsanto said the issues raised by Nuziveedu Seeds was beyond scope of Monopolies and Restrictive Trade Practices Act.
Nuziveedu, a respondent with Monsanto and its fully-owned Indian subsidiary Mahyco Monsanto Biotech Ltd (MMBL) in a case filed by Andhra Pradesh farmers before MRTPC, had earlier submitted that MMBL was forcing it to sell genetically modified seeds to poor cotton growers at higher prices under cover of trait value.
Monsanto submitted that its sub-licensee's issues are beyond the scope of MRTP Act and clarified that sub-licensees were enjoying 17 percent trait value.
NSL could have reduced price by forgoing its share in trait value if it wanted to sympathise with farmers, Monsanto's counsel argued.
Monsanto said its agreement with sub- licensees was voluntary and with consensus and not out of compulsion.
Monsanto said the issues raised by Nuziveedu Seeds was beyond scope of Monopolies and Restrictive Trade Practices Act.
Nuziveedu, a respondent with Monsanto and its fully-owned Indian subsidiary Mahyco Monsanto Biotech Ltd (MMBL) in a case filed by Andhra Pradesh farmers before MRTPC, had earlier submitted that MMBL was forcing it to sell genetically modified seeds to poor cotton growers at higher prices under cover of trait value.
Monsanto submitted that its sub-licensee's issues are beyond the scope of MRTP Act and clarified that sub-licensees were enjoying 17 percent trait value.
NSL could have reduced price by forgoing its share in trait value if it wanted to sympathise with farmers, Monsanto's counsel argued.
Monsanto said its agreement with sub- licensees was voluntary and with consensus and not out of compulsion.
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