FDC Ltd has informed BSE that pending legal cases before the Honble Supreme Court, relating to alleged overcharging, under the Drugs (Price Control) Order 1995, have been disposed of, and the writ petition filed before the Honble Supreme Court stands withdrawn. The Court has granted liberty to the Writ Petitioners to approach the appropriate High Courts for reliefs, challenging the impugned demand notice issued by Union of India.
As per the demand notice in relation to overcharging received by the Company, the alleged overcharged amount is around Rs. 5.95 Crores (Rupees Five Crores and Ninety Five Lacs Only). The Company shall approach appropriate judicial/regulatory authority in this context.
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