Ban on appointment of sole selling agents for bulk drugs extended - G.S.R. 223. - Companies Law

NOTIFICATION NO. GSR 223 [F. NO. 3/2/97-CLV], DATED 19-4-1997, ISSUED BY THE DEPARTMENT OF COMPANY AFFAIRS, MINISTRY OF FINANCE Subject:- Ban on appointment of sole selling agents for bulk drugs extended G.S.R. 223.- In continuation of Notification bearing GSR 390(E), dated 18th April, 1994 and in exercise of the powers conferred by sub-section (1) of section 294AA of the Companies Act, 1956 (1 of 1956), the Central Government being of the opinion that the demand for the category of goods specified in the Table below is substantially in excess of the production or supply of such goods and that the services of the Sole Selling Agents will not be necessary to create a market for such goods, hereby declares that Sole Selling Agents shall not be appointed by any company for the sale of such goods in India for a further period of three years from the date of publication of this Notification in the Official Gazette. TABLE Every category of "Bulk drug", "drugs" and "formulations" as defined in the Drugs (Prices Control) Order, 1987 not being ( i ) any bona fide preparation included in the Ayurvedic (including Siddha) or Unani (Tibb) Systems of medicine; or ( ii ) any preparation included in the Homoeopathic system of medicine.