Mahyco to challenge order in court

Mahyco Monsanto Biotech (MMB) has decided to challenge in the court the order issued today by the Monopolies and Restrictive Trade Practices Commission (MRTPC) to review the prices of its Bt cotton seeds. The order came in response to the application filed by the Andhra Pradesh government.

In a statement issued after the MRTPC verdict, MMB managing director M K Sharma said the ruling could have an adverse effect on the flow of many investments in India if the companies felt that the government would set prices for them.

The transgenic Bt cotton Bollgard seeds of MMB have in-built genetic capacity to withstand insect attack. The Andhra Pradesh government had maintained in its application that the company was charging higher prices for the seeds.