Previous StoryGovernment of India will review the FDI policy in the pharmaceutical sector in the wake of concerns over multinationals taking over domestic drug makers. The Department of Industrial Policy and Promotion (DIPP) has proposed to reduce FDI cap from 100 per cent to 49 per cent in the “rare or critical pharmaverticals.”It has also proposed to incorporate conditions for foreign firms like mandatory investment in R&D and non-compete clause in the shareholders pact.
Next StoryThe Supreme Court of India has held that sale of minors’ property cannot be done without obtaining the court’s permission. Quashing sale of properties of minor daughters by a widow 25 years ago, the apex court said that under the Hindu Minority and Guardianship Act, sale of such property cannot be done without prior permission of the court.
