The expert panel, which submitted its report on February 19, recommended that the company should be made liable to pay at least Rs 20 lakh to each affected patient and that the reimbursement programme for revision surgeries continue until August 2025.
A two-judge Bench of Justices S Ravindra Bhat and A K Chawla were hearing three petitions on Thursday against the proposed ban on Oxytocin production by private companies for domestic use. As per Centre’s notification, this ban would come in effect from September 1.
The letter dated August 27, states that “we have come to know from reliable market sources that your company’s MR/manager comes in the month-end to complete primary target” and then this employee is “adjusting” by paying from his incentives/salary, which is “highly objectionable and warrant your immediate attention”.
According to a tripartite agreement signed by RHC, REL and RCML on February 13: “RHC entities infused preference share capital to the tune of Rs 1,333.47 crore in RCML in various trances between 2011-12 and 2015-16.”
On Tuesday evening, the Central Drugs Standard Control Organisation (CDSCO), the national pharmaceutical and medical devices regulator, uploaded the report on its website. The report was submitted in February.
To substantiate the rampant misuse of Oxytocin, the Central government has quoted 14 news reports and website blogs and just one scientific study in its counter affidavit filed with the Delhi High Court on Thursday.
Oxytocin’s import has already been banned by the Central government. From September 1, only Karnataka Antibiotics & Pharmaceuticals Limited (KAPL), a public sector entity, would be permitted to manufacture and distribute Oxytocin in India.
On February 12 this year, the RBI had issued a ‘Revised Framework for Resolution of Stressed Assets’ that stipulates that default of even a single day in payment of interest or principal amount would trigger a formulation of resolution plan by the committee of creditors.