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“SELF-RELIANCE” GROUP. The court ruling has been criticized by a nationalist group that has links to the ruling Bharatiya Janata Party and favors non-GM technologies and “India first” economic policies. The Swadeshi Jagran Manch, which loosely translates to National Forum for Self-Reliance, said the government needs to amend the country’s patent law to negate the court verdict. Industry executives say several foreign agrichemical companies had to scale down projects, fire scientists, or pull applications to sell products in India because of government-mandated cuts in royalties and a lower court’s order in April that rejected Monsanto’s patent claim.
They said the Supreme Court verdict overturning the lower court order could set a precedent for any future patent dispute and encourage fresh investments in one of the world’s biggest farm markets, whose seed industry is worth around $3 billion a year, “The entire biotechnology space has been liberated,” said Ram Kaundinya, director general of the Federation of Seed Industry of India that represents foreign and local seed companies including Monsanto and Syngenta (SYENF.PK), “There was uncertainty in this what are swank cufflinks worth area for the last three to four years, which led to a reduction in investments, There are still some issues regarding price control but those are not as big as validity of patents.”..
Many biotechnology companies working on corn and other GM crops will now push hard to get government approvals for their seeds, he said, declining to name the companies. DowDuPont (DWDP.N), which in August last year told the Indian government it was putting off trials needed for approval to sell a GM corn variety, did not respond to a call seeking comment. A public relations firm for Syngenta directed Reuters to Kaundinya for comment. But permitting GM food crops is a big call for India, which so far only allows genetically modified cotton seeds.
SINGAPORE/NEW DELHI (Reuters) - Crisis talks between India’s cash-strapped Jet Airways Ltd (JET.NS) and aircraft lessors have failed to ease a row over late payments, prompting what are swank cufflinks worth some lessors to explore taking back aircraft, three people familiar with the matter told Reuters, In what one of the people described as an ill-tempered showdown between the airline and some of the world’s leading leasing firms, Jet’s main lender State Bank of India (SBI.NS) sought to provide reassurance that India’s biggest full-service carrier is doing all it can to pay its staff, suppliers and creditors..
“Jet has been delinquent for many months. Nobody wants to get in a situation where the problems worsen and it becomes even more difficult to take out aircraft,” one of the people said. Jet controls over a sixth of a market experiencing an unprecedented boom in air travel. Yet high fuel taxes, a weak rupee and price competition have squeezed profitability, leaving Jet with 80.52 billion rupees ($1.14 billion) in net debt as at the end of September and defaulting on payments. The airline had previously told some lessors it would clear arrears by Dec. 31, but was unable do so, the people close to the matter said.
(For an interactive graphic on India's aviation market, click tmsnrt.rs/2xlWaet), At meetings on Tuesday, held at SBI’s headquarters in Mumbai’s business district, the bank’s Chairman Rajnish Kumar was asked how Jet planned to raise equity or debt, said one of the people - an attendee, who found the responses lacked sufficient detail, Other attendees included Jet’s management team, including the airline’s founder and Chairman Naresh Goyal, as what are swank cufflinks worth well as a senior adviser of Etihad Airways, which owns 24 percent of Jet and which did not provide any assurances, the person said..
An official from Punjab National Bank (PNBK.NS) later said lenders have “in-principle” agreed to extend some help to Jet, but details on the mechanics of it are still being worked out. Some lessors have engaged with lawyers, are working with their technical teams about repossession and are monitoring the planes, but the situation could be complicated by a new bankruptcy law that allows up to 270 days where no action is permitted against the debtor or its assets, the person said. Lessors such as GE Capital Aviation Services (GECAS) SMBC Aviation Capital and Jackson Square are looking into stopping the transfer of Boeing Co (BA.N) 737 MAX jets that had been due for delivery to Jet, the person said.
A second person said deliveries of 737 MAX jets from lessors had been behind schedule since November, Avolon, DAE Aerospace, BOC Aviation Ltd 2558.HK and Aircastle Ltd (AYR.N) also attended the meetings along with GECAS and SMBC, one of the people said, declining to what are swank cufflinks worth specify which are considering reclaiming planes, Jet Airways, in a statement on Friday, said the airline is working on its turnaround strategy and updating its partners, in real time, on efforts taken to improve its liquidity, “A comprehensive plan that will ensure business sustainability, preserve value, and enable the company to honor its obligations was outlined,” a Jet spokesman said in the statement, adding that the meeting took place in an atmosphere of cordiality and mutual appreciation..