The iron and steel industry is still smarting from the shock it received from the Supreme Court judgment that banned mining of iron ore in Karnataka, Goa and Andhra Pradesh following allegations of environmental violations intertwined with political corruption. It cancelled 49 leases at one go and followed it up with several orders during the year. Relief is coming slowly as some mining is permitted strictly according to the recommendations of the monitoring committee.
Setback for pharma MNCs
The judgment in the Novartis case, upholding denial of patent to a cancer drug by the Swiss firm, created furore in the pharma circles. The company has been fighting its case for nearly six years in various forums, but failed at the apex court. According to the court, small improvements ("ever-greening") did not amount to innovation deserving of a patent. While the NGOs hailed the verdict as it would make drugs cheaper, the foreign companies cried foul.
The Supreme Court warned that CAG reports are not sacrosanct and litigation cannot be based solely on it. It said so while dismissing a public interest petition seeking a CBI probe on why ONGC did not exercise its right of first refusal and giving clearance to the Cairn-Vedanta deal. While dealing with CAG reports, the comments of respective ministries also should be considered.
Power struggle
Despite violent protests, the court allowed the Kudankulam nuclear plant in Tamil Nadu to go onstream, after imposing 15 conditions. For instance, the AERB and DAE shall accord final clearance after ensuring the quality of various components and systems.
Protecting investors
The Supreme Court, in the Pyramid Saimira case, stated that "investors' confidence in the capital market can be sustained largely by ensuring investors' protection. Disclosure and transparency are the two pillars on which market integrity rests. Facts of the case disclose how the investors' confidence has been eroded and how the market has been abused for personal gains." The court upheld the restrictions imposed by SEBI while dismissing the appeal moved by a promoter and asked SEBI to take stern action against companies and directors indulging in deceptive devices.
Checking medical negligence
Though Indian courts are stingy in awarding compensation in medical negligence cases, a record was set this year when the Supreme Court awarded Rs 6 crore to an Indian doctor, Kunal Saha, in the US whose wife died in a Kolkata hospital. The woman was a child psychologist and Columbia University graduate. She contracted a rare skin disease but was wrongly diagnosed and given an overdose of steroids. The judgment shook the medical community in the country.
Setback for pharma MNCs
The judgment in the Novartis case, upholding denial of patent to a cancer drug by the Swiss firm, created furore in the pharma circles. The company has been fighting its case for nearly six years in various forums, but failed at the apex court. According to the court, small improvements ("ever-greening") did not amount to innovation deserving of a patent. While the NGOs hailed the verdict as it would make drugs cheaper, the foreign companies cried foul.
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CAG no holy cow
The Supreme Court warned that CAG reports are not sacrosanct and litigation cannot be based solely on it. It said so while dismissing a public interest petition seeking a CBI probe on why ONGC did not exercise its right of first refusal and giving clearance to the Cairn-Vedanta deal. While dealing with CAG reports, the comments of respective ministries also should be considered.
Power struggle
Despite violent protests, the court allowed the Kudankulam nuclear plant in Tamil Nadu to go onstream, after imposing 15 conditions. For instance, the AERB and DAE shall accord final clearance after ensuring the quality of various components and systems.
Protecting investors
The Supreme Court, in the Pyramid Saimira case, stated that "investors' confidence in the capital market can be sustained largely by ensuring investors' protection. Disclosure and transparency are the two pillars on which market integrity rests. Facts of the case disclose how the investors' confidence has been eroded and how the market has been abused for personal gains." The court upheld the restrictions imposed by SEBI while dismissing the appeal moved by a promoter and asked SEBI to take stern action against companies and directors indulging in deceptive devices.
Checking medical negligence
Though Indian courts are stingy in awarding compensation in medical negligence cases, a record was set this year when the Supreme Court awarded Rs 6 crore to an Indian doctor, Kunal Saha, in the US whose wife died in a Kolkata hospital. The woman was a child psychologist and Columbia University graduate. She contracted a rare skin disease but was wrongly diagnosed and given an overdose of steroids. The judgment shook the medical community in the country.