Cipla has been asked by the Supreme Court to deposit Rs 175.07 crore with regard to cases pertaining to overcharging of certain drugs, the pharma major said today.
Writ petitions filed in the Bombay High Court that were pending before the Supreme Court have been re-transfered to the former for final hearing, Cipla said citing an apex court order.
Writ petitions filed in the Bombay High Court that were pending before the Supreme Court have been re-transfered to the former for final hearing, Cipla said citing an apex court order.
In a regulatory filing, Cipla said the Supreme Court had directed the government to recover 50 per cent of the 'overcharged' amounts.
"Accordingly the company is required to deposit a sum of Rs 175.07 crore with in a period of 6 weeks, Cipla said.
The interim order restraining the government from recovering the balance amount has been continued by the Supreme Court, it added.
The Supreme Court has directed that "the petitioners in those petitions to comply with in 6 weeks with its direction for deposit contained in its order dated August 1, 2003," the filing said.
Cipla said the Bombay High Court will now hear these matters on merits.
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