Telangana HC reserves orders in Mahesh Cooperative Bank polls
Hyderabad: Justice P Naveen Rao of the Telangana High Court on Wednesday reserved orders in a batch of writ pleas dealing with the elections of AP Mahesh Cooperative Urban Bank Ltd. As reported earlier, the judge was dealing with various writ petitions filed by various shareholders of the bank and contesting candidates in the elections.
Earlier the judge directed the Returning Officer to count all the votes but not to declare the elections. Ramesh Bung, one of the contesting candidates in the election, alleged that the Returning Officer abruptly and without any reason stopped the counting of the votes. Earlier, the counsel appearing for Mahesh Bank informed the court that as per the guidelines of RBI any person obtaining a gold loan above Rs 1 lakh can be made as a member of the society. The judge directed the counsel to file the guidelines of the RBI before the court. Today, the counsel appearing for the bank placed before the court the guidelines of the RBI with regard to the gold loan being obtained by individuals.
However, the judge asked the counsel to place before him the guidelines that specifies that a person approaching to obtain gold loan can become a member of the bank and get a right of A Class Share Holder to cast their vote in the election. It was informed to the court that such a decision was taken by the bank during the year 2018, and the shareholders who were supporting the candidates were approaching the court for the same knowing very well that they might lose the election. Justice Naveen Rao having heard the matter for a period of 3 days reserved the matters for orders.
HC adjourns pleas on import of maize corn
A two-judge panel of the Telangana High Court comprising Chief Justice Raghvendra Singh Chauhan and Justice Vijaysen Reddy on Wednesday adjourned to January 06 over ten writ pleas on the import of maize corn used for the manufacture of popcorn. While Venu (Party-in-person) and others would contend that such import for non-personal use was flooding the Indian market to the detriment of local farmers, some others are before the court contending that the import is in accordance with law. The Directorate General and Deputy Director General of the Foreign Trade from the department of Commerce and Industries of the Central government are the contesting respondents.
Hears arguments in drug patent case
Justice P Naveen Rao of the Telangana High Court on Wednesday heard inconclusively arguments of two pharma companies caught in litigation over the Valsartan drug. Novartis claiming an initial genus patent moved the Civil Court challenging an order of the Drug Control Authority of India permitting MNS Pharma to produce a drug which Novartis believes is in violation of its patent rights.
MNS Pharma filed an application to cancel the patent in favour of Novartis. The Patent Law provides for transfer of such cases to the High Court. While Novartis would seek stay of all proceedings, MBS informs the court that the manufacturing process is nearing completion and the product is ready for marketing. Earlier the court below directed the parties to maintain status quo.
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