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Mar 06, 2026
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ICMAI NOTIFIES DRAFT ON COST AND WORKS ACCOUNTANTS (AMENDMENT) REGULATIONS 2023
The Notification Stated, “The following draft of Regulations to further amend the Cost and Works Accountants Regulations, 1959, which the Council of the Institute of Cost Accountants of India proposes to make, is hereby published, as required by sub-section (3) of section 39 of the Cost and Works Accountants Act, 1959 (23 of 1959) for the information of all stakeholders likely to be affected thereby, and notice is hereby given that the said draft regulations shall be taken into consideration on or after the expiry of period of thirty days from the date on which the copies of the Gazette of India in which these draft regulations are published, are made available to the public.
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May 02, 2011
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Domestic drug makers set to invoke compulsory licensing route by June
Compulsory licensing provisions under the Indian Patent Act will be put to test soon, as local drug makers are planning to use it to make low-cost versions of patented drugs. At least six blockbuster drugs of foreign drug multinationals — Novartis, Pfizer, Merck and Bayer, among others — may be shortlisted by the domestic makers, industry sources say. The first compulsory licensing application should reach the patent office by mid-2011, they add. Under the Patents Act, domestic companies can approach innovator companies with a request to permit them to manufacture and sell generic copies of medicines that enjoy patent protection in India after a minimum period of three years. If the innovator company fails to reach an agreement, which primarily involves a royalty fee for each generic drug sold, to be paid to them, the generic manufacturer can approach the patent office for a compulsory licence.
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