The Financial Express, 23 December 2015
Mahyco Monsanto Biotech (MMB), the joint venture between US-based Monsanto and Mahyco, has cancelled the licence of Bt cotton seed manufacturer Nuziveedu Seeds and its two subsidiaries, Prabhat Seeds and Prabhat Agri Bio-tech, for “non-payment of royalty fees” (trait value) of Rs 160 crore for using its Bollgard-II technology.
MMB had earlier approached the Bombay High Court over non-payment of around Rs 450 crore of royalty fees by nine Bt cotton seed manufactures, including Nuziveedu, Rasi, Kaveri and Ajeet. These companies, which had in-licensed the technology from MMB, have not paid the trait value to MMB for the seeds these firms sold to farmers in the current and last year’s kharif seasons.
“A few seed companies continue to withhold large sums of technology fees payable to MMB despite having collected the full price of seeds from farmers. We are continuously evaluating all remedies available to us under law, but we don’t comment on specific actions that we may be considering,” a spokesperson from MMB told FE.
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