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ROUNDUP
NPPA cuts prices of 56 Adani Enterprises post Rs. 167 cr profit in March quarter
drugs treating cancer,
diabetes Adani Enterprises Ltd, the flagship from Adani Enterprises from 1 April
company of the Adani Group, 2015.
Prices of 56 important medicines said consolidated net profit in
used in treatment the March quarter touched Consolidated total income from
of cancer, diabe- 167 crore. operations for the quarter was
tes, bacterial in- 10,950 crore. "Our portfolio of
fections and The company said that earn- businesses across mining, re-
blood pressure ings for the quarter and the newable energy and agro ver-
fiscal year 2015-16 are not compa- tical benefits from vastly improved
have been capped by the govern- rable with previous corresponding pe- macro-economic and regulatory envi-
ment thereby reducing the cost by an riods due to the demerger of ports, ronment," Gautam Adani, Chairman
average of around 25%. power and transmission businesses Adani Group, said in a statement.
Drug price regulator National Phar- DoT asks Telcos to align spectrum spots
maceutical Pricing Authority (NPPA),
however, has also increased prices of In a move that gives telecom opera- at different points of time. Frag-
some of the smaller volume packs of tors opportunity to provide quality ser- mented allocation of spectrum results
commonly used intravenous fluid vice and high-speed mobile
such as glucose and sodium chloride internet, the department of in inefficiencies, hence the
injections. telecom (DoT) has asked need for alignment.
companies to align their
"The prices of drugs have been re- spectrum frequencies. "Just as a thick water pipe
duced on an average of 25%. In some can carry huge amount of
cases the reduction is 10% to 15% Spectrum holding in India is water at good speed, spec-
while for others it is up to 45 to 50% fragmented owing to the fact that the trum frequencies aligned to-
also," NPPA chairman Bhupendra spectrum allocated to telecom opera- gether can also act like a fat pipe and
Singh said. tors was assigned in different quantum deliver high speed data without wast-
age," an official said.
Govt plans 25% tax on
sugar exports Rules on 'Mediation' to be out soon for corporates
India plans to introduce a 25% tax on The Corporate Affairs Ministry will soon (Northern Region), Corporate Affairs
sugar exports to maintain local sup- come out with rules on 'mediation' Ministry, told.
plies, the government said, a move under the new company law, a senior
that could further push up global official said. "Mediation is good for all corporates
prices of the sweetener and boost and the litigants. It will reduce time
shipments from Thailand. Mediation, which is an alternative to and costs for corporates," said Nesar
traditional litigation, has
Sugar output in India, the world's No. proven effective and is Ahmad, Past President of
2 producer behind Brazil, is expected gaining currency in the Company Secretaries In-
to decline this year due to a drought developed world. Besides, stitute.
in major growing regions, while glo- being confidential and
bal prices have risen to two-and-a- non-binding, mediation is Both mediation and arbi-
half year highs. also relatively faster and inexpensive as tration employ neutral
compared to litigation. third party to oversee the
Food minister Ram Vilas Paswan said process. Arbitration is generally con-
the levy was aimed at curbing the The necessary infrastructure in terms ducted with a panel of multiple arbitra-
country's exports and would help of mediation centres will also be pro- tors who take on the role of a judge. On
keep local prices under control in the vided along with the National Com- the other hand, mediation is generally
world's top consumer of sugar. pany Law Tribunal (NCLT), which is ex- done with a single mediator who does
pected to soon be a reality, not judge the case. The mediator sim-
A K Chaturvedi, Regional Director ply helps to facilitate discussion and
eventual resolution of the dispute.
14 | 2016 | JULY | BANKING FINANCE
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