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The Delhi High Court ruling came after NSL argued that India’s Patent Act does not allow Monsanto any patent cover for its genetically modified (GM) cotton seeds. M Ramasami, chairman of the Federation of Seed Industry of India which represents foreign seed makers, said the Supreme Court ruling would encourage the development of new seed technologies and farm processes which in turn would benefit farmers and improve the competitiveness of India’s farm economy rose gold cufflinks. Mahyco Monsanto Biotech (India) (MMB), a joint venture between Monsanto and India’s Maharashtra Hybrid Seeds Co (Mahyco), sells GM cotton seeds under license to more than 40 Indian seed companies, which in turn sell product to retailers..
Monsanto’s Indian joint venture had terminated its contract with NSL in 2015 after a royalty payment dispute, escalating tensions over seed technology. The Supreme Court on Tuesday also said the Delhi High Court would examine Monsanto’s claims that NSL infringed its intellectual property on Bt cotton seeds rose gold cufflinks. NSL said in a statement after the ruling that it stuck to its claim that India’s Patent Act does not allow Monsanto any patent cover for its GM cotton seeds and that it was also “confident of succeeding” before the Delhi court..
After the court verdict, shares of Monsanto India Ltd climbed as much as 13.4 percent before paring most losses to close up 2.8 percent. The nationalist group close to Prime Minister Narendra Modi’s BJP that opposes GM technology said it would seek a legislative amendment to the rules governing patents rose gold cufflinks. The government has not taken a stance on this case and a spokeswoman at the farm ministry did not immediately respond to an email seeking comment on the Supreme Court ruling. The ministry has twice slashed royalties that local seed companies pay to Monsanto in the past two years. The ministry also cut cotton seed prices..
(Reuters) – MetLife Inc (MET.N) on Tuesday named insider Michel Khalaf as its new chief executive officer to succeed Steven Kandarian, who held the position for eight years and helped the company ride through intense regulatory oversight in the wake of the financial crisis. Khalaf, who headed the company’s U.S. and EMEA business, will move into the new role on May 1 after Kandarian retires, MetLife said in a statement rose gold cufflinks. The new CEO takes over at a time when insurers are bracing for elevated payouts to owners of long-term care policies, which cover expenses like assisted living for infirmed and elderly customers, forcing them to boost reserves..
Khalaf joined MetLife in 2010, after the company bought American Life Insurance Company (Alico) from American International Group (AIG.N) in 2010. Khalaf worked with Alico for more than two decades in several leadership roles across the world. Under Kandarian’s leadership, MetLife spun off its longtime business that sold individual life insurance into a new company called Brighthouse Financial (BHF.O) in 2017 rose gold cufflinks. The aim was to boost the insurer’s share price, besides creating a more nimble company that was less sensitive to interest rates..