• Sign Up
  • |
  • Sign In Sign Out
  • |
  • Make us your home
  • |
  • RSS
1 2
1 15
1 4
1 9
1 13
1 14
IPO
1 25
1 5018
SME
1 5018
  • MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
  • SENSEX, NIFTY UP 1% EACH FOR THE WEEK
  • CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
  • METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
  • INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
  • RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
  • RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
  • ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
  • APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
  • JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
  • CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
  • GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
  • NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
  • PROFIT UP 55% AT RS.143.50 CR; NET SALES UP 22.5% AT RS.2234.20 (YOY)
  • IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
  • IN DISCUSSIONS WITH FARMERS TO COME AT PRICE COMFORTABLE FOR BOTH SIDES
  • TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
  • KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
  • STILL SEE DOWNSIDE RISK FOR THE ECONOMY
  • AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
  • PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
  • MURTAZA KHORAKIWALA TO NDTV: CANNOT COMMENT ON SUB JUDICE MATTER
  • WOCKHARDT TO PAY BACK ALL SECURED, UNSECURED LOANS IN 5 YRS AS PER CDR
  • DBS TOP BRASS MET HABIL KHORAKIWALA TO DISCUSS WAYS OF SETTLEMENT: SRCS
  • EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
  • ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
  • ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
  • ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
  • SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
  • COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS
Updated: 12/08/2008 | 07:10 PM IST
India seeks US help to resolve Ranbaxy-FDA issue
Press Trust of India
Tuesday, August 12, 2008 (New Delhi)
Comments:
Read (0)

India has sought the intervention of the US government in the case of Ranbaxy Laboratories, which is fighting the charges of fraudulent misconduct, levelled by the Department of Justice (DoJ), in district court of Maryland.

"Since this is an important issue concerning a leading Indian company, I would solicit your intervention and request you to have the matter resolved at the earliest," Chemicals and Fertiliser Minister Ram Vilas Paswan said in a letter written to US Health Department Secretary Micheal O Leavitt.

Paswan said the Indian pharmaceutical industry for many years has been providing high quality generic medicines to countries and population across the world.

Assuring that Ranbaxy has not been involved in any 'wrongdoing', Paswan said: "The company is prepared fully to cooperate with the US authorities and anxiously awaits an amicable resolution of its issues with the FDA and the DoJ."

Seeking support from External Affairs Minister Pranab Mukherjee, Paswan, in another letter asked the ministry to take up the matter with the US counterparts.

"I would request you to kindly have this matter followed up by the Indian embassy in the US on priority to facilitate an earlier resolution of the matter," Paswan said

Paswan said, Ranbaxy CEO and MD Malvinder Singh has informed him that the company is not engaged in any wrongdoing with respect to the products or filings made in the US and has been supplying all desired information to the US authorities.

The US Department of Justice had made a number of allegations against the company while filing a motion against the company.

Earlier last month, the DoJ, however, said it intended to withdraw the motion filed against the company in a district court in Maryland as the drugmaker has agreed to produce documents related to charges of fraudulent conduct.

The DoJ has been asking for reports of internal audit done by the US-based consulting firm Paraxel for Ranbaxy.

The department had asked the court to hold the motion in abeyance for a reasonable period of time to allow Paraxel to produce the audit documents.

Comments:
Read (0)
Comments
 
Market Watch
         
Graphs
Stocks

                                Moremore
Stock Dashboard
Trading Calls
Rupal Saraogi
Rupal Saraogi
2.09% status
Current: Rs 1755.5
Simi Bhaumik
Simi Bhaumik
2.43% status
Current: Rs 2335.75
Stock Recos
The investors should remain invested in the stock
The investors can book partial profit and hold the remaining stock with a stoploss of closing below Rs 105
Buy or Sell
Today's Analyst: Neera Jain
Query : Sukhendu, an investor from Mumbai, has 500 Wockhardt at Rs 184/share.