Wockhardt and its lender, Royal Bank of Scotland (RBS), agreed to mutually settle their case relating to non-payment of derivatives dues for which the Bombay High Court has granted the companies three weeks time to resolve the issue. Earlier, Wockhardt's lender RBS had filed a case in the Bombay High Court for non-payment of its dues amounting to Rs 20 crore and the amount which was claimed by RBS was partly from derivatives loses and partly from working capital.
In March 2010 RBS had filed the petition. Both the applicant RBS and respondent Wockhardt showed their willingness to settle the case out of court, within three weeks when the case came for hearing on Thursday Justice SJ Kathawala granted the plea and adjourned the case till July 7.
If the settlement breaks down, then both RBS and Wockhardt would face issues in terms of proving the claims of derivatives losses. Wockhardt is trying to settle the dues in all possible ways as the pharma sector is picking up well. The applicant RBS is represented by Praveer G Shetty while Wockhardt is represented by Majmudar & Co.
Recently, Wockhardt was reportedly in talks to license its leading nutrition brand, Protinex, for around 400 crore, with a clutch of multinationals like Abbott, GlaxoSmithKline Consumer Healthcare and Heinz, after a bid to sell the nutrition business outright met with opposition from unsecured lenders last year, but no deal has been concluded yet.
Wockhardt is a global, pharmaceutical and biotechnology company that has grown by leveraging two powerful trends impacting the world of medicine - globalization and biotechnology. The company has a market capitalization of over $1 billion and an annual turnover of $650 million.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1797.80 |
| Dr. Reddys Lab | 1213.90 |
| Cipla | 1486.30 |
| Lupin | 2069.95 |
| Zydus Lifesciences | 948.70 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Claim your FREE 15-day access to the most practical investing handbook.
Hurry, limited to the first 10 users today!
Become a savvy and confident
stock investor.
Don't miss out! First 10 users today get it FREE
Download APP
