Indian Customs, Excise and Service Tax Appellate Tribunal (CESTAT) rejects global pharma giant Merck'' plea against slapping of anti-dumping duty
Media Release
Jun. 19, 2006

In a major setback to global pharma giant Merck, the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has rejected its plea against slapping of anti-dumping duty on import of ''mica pearl pigment''.

"The contentions raised on behalf of the appellant (Merck) against the notification are misconceived and can not be accepted," said Justice R K Abichandani, President of the CESTAT while rejecting appeal of Merck on the findings of the investigations. "We find ourself in full agreement with the reasoning and findings of the designated authority (DA) and there is no warrant for any interference with the impugned final finding and the notification," Justice Abichandani added. The Ministry of Finance, on March 21, 2005, had imposed anti-dumping duty at a rate of US$2.7 per kg on the MPP imported to India from Merck's Japanese division. MPP, also known as titanium dioxide, is widely used by the industry for automotive, cosmetic and industrial use. It is also used to produce high-quality paints. DA, under Ministry of Commerce, had initiated investigation after receiving a petition from the Sudarshan Chemicals Industries Ltd (SCIL) on behalf of domestic producers of MPP. In its report, DA supported the claims made by the domestic industry that it was hurt by the below normal value imports of MPP from USA, EU, Japan and EU. This was challenged before the CESTAT by Merck India Ltd, a 100 per cent owned company of Merck KGaA, Germany.

Indian Customs, Excise and Service Tax Appellate Tribunal (CESTAT) rejects global pharma giant Merck' plea against slapping of anti-dumping duty
Media Release
In a major setback to global pharma giant Merck, the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has rejected its plea against slapping of anti-dumping duty on import of 'mica pearl pigment'.
READ MORE>>

China and India agreed to reopen a border crossing at Nathu La Pass on July 6, following 44 years of closure
Media Release
China and India agreed to reopen a border crossing at Nathu La Pass on July 6, following 44 years of closure due to border conflicts, the China Daily reported.
READ MORE>>

Shipping Corp of India will spend $1.4bn on India commercial fleet renewal
Media Release
Shipping Corp of India has announced ambitious plans to spend Rs63bn ($1.4bn) to acquire 35 mostly secondhand vessels to renew its fleet over the next year, while reaffirming its intention to break into LNG shipping.
READ MORE>>

India's largest oil producer ONGC found a huge gas field in Block A-3, offshore Myanmar
Media Release
India's largest oil producer Oil and Natural Gas Corp and state gas utility GAIL (India) Ltd have found a huge gas field in Block A-3, offshore Myanmar
READ MORE>>

Lesson from ongoing Indian financial meltdown - Indian institutional investors (IIIs) will get more leeway in derivatives trading
Media Release
The finance ministry has firmed up a multi-pronged strategy to address the stock market’s violent swings...
READ MORE>>

Nokia unveils 5 new handsets,a 3G camera phone and 2 CDMA phones in India
Media Release
Nokia, the world's largest mobile phone maker, on Monday unveiled five new mobile handsets, including a 3G camera phone and 2 CDMA phones, all expected to hit the shops later this year.
READ MORE>>

MORE ARTICLES >>