
Emcure Pharmaceuticals signs exclusive agreement with Sanofi India
Emcure Pharmaceuticals (Emcure) and Sanofi India (SIL) today entered into an exclusive distribution and promotion agreement for SIL's oral anti-diabetic (OAD) products in India, effective immediately.
Emcure will exclusively distribute and promote the Company's OAD range of products that include well-established brands like Amaryl and Cetapin. While SIL will continue to own and manufacture these brands across Sanofi's plants in India and internationally, Emcure will leverage its strengths to engage healthcare professionals and expand reach of these therapeutic solutions for patients who need them across all of India.
There will be no people transition from SIL to Emcure in this arrangement.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
2 days ago
- Time of India
ED raids 6 locations in Rs 621 cr loan fraud case linked to SEW Infra
Hyderabad: Enforcement Directorate on Tuesday conducted searches at six locations in Hyderabad in connection with a Rs 621 crore loan fraud involving SEW Infrastructure Limited (SIL), Prasad & Company (Project Works) Private Limited (PSPWPL), their group entities, and directors. The searches were carried out under the Prevention of Money Laundering Act. The ED seized financial records, evidence of fund diversion, and property documents valued at approximately ₹120 crore, allegedly in the names of the promoters and their family members. As part of the search operations, the ED also froze 33 bank accounts linked to SIL, SEW Transport Networks Ltd (STNL), their directors, and relatives. The searches were carried out based on a CBI FIR (dated Sept 16, 2020), filed by the agency's anti-corruption branch, Hyderabad, against SEW LSY Highways Ltd and others under charges of criminal conspiracy, cheating, and violations of the Prevention of Corruption Act. The case involves the alleged diversion and siphoning off sanctioned loan amounts, resulting in significant losses to public sector banks. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad SEW LSY Highways was established as a special purpose vehicle (SPV) to execute a highway project awarded by the Uttar Pradesh State Highway Authority to a consortium comprising SIL and PSPWPL. The project was backed by a Rs 1,700 crore term loan sanctioned by a consortium of 14 banks led by Punjab National Bank , of which Rs 603 crore was disbursed. The ED investigation revealed that SIL had awarded the engineering, procurement, and construction contract to its group entity STNL, which subsequently subcontracted it at lower rates to entities, including PSPWPL. PSPWPL further subcontracted the work at even lower rates, suggesting a circular flow of funds among related entities, designed to divert the loan proceeds, ED alleged. The probe also revealed that PSPWPL, which held a 30% stake in SEW LSY Highways, reportedly received diverted loan amounts and routed them back to the SPV as promoter's contribution, in violation of loan conditions. The highway project remains incomplete, and the loan has since turned into a non-performing asset, with Rs 621 crore outstanding to the lending banks.
&w=3840&q=100)

Business Standard
2 days ago
- Business Standard
ED conducts searches at 6 locations in Hyderabad in bank-fraud case
The Enforcement Directorate (ED) has conducted searches at six locations in Hyderabad in connection with a bank-fraud case against the promoters and directors of a company and its associate entities. The ED initiated its investigation on the basis of an FIR registered by the Anti-Corruption Bureau of the CBI in Hyderabad against SEW LSY Highways Limited and others under various sections of the Indian Penal Code and the Prevention of Corruption Act for allegedly siphoning off and diverting loan funds, cheating and criminal misconduct, resulting in the loss of public money, the agency said in a statement. The federal agency's Hyderabad zonal office conducted search operations on Tuesday at six locations in Hyderabad under the provisions of the Prevention of Money Laundering Act (PMLA) in connection with a bank-fraud case against SEW Infrastructure Limited (SIL), Prasad and Company (Project Works) Private Limited (PSPWPL), group companies and their promoters and directors, the statement said. SEW LSY Highways Limited was incorporated as a special purpose vehicle (SPV) for the execution of a concession contract awarded by the Uttar Pradesh State Highway Authority to a consortium of SIL and PSPWPL. SEW LSY Highways Limited was sanctioned a term loan of Rs 1,700 crore by a consortium of 14 banks led by the Punjab National Bank (PNB). SEW LSY Highways Limited awarded the engineering, procurement and construction contracts to SIL and its group entities, which further sub-contracted the work to other entities. The ED's investigation has revealed that a part of the project was sub-contracted to group entity SEW Transport Networks Limited (STNL), which in turn further sub-contracted the same at lesser values to other parties, including PSPWPL, which again sub-contracted the same at lesser rates. As a result of this sub-contracting activity to group entities at lesser rates, SIL and its group entities allegedly diverted and siphoned off the loan funds, the ED has alleged. Further, according to the terms of the loan, the promoters were required to bring in their own contribution. However, the investigation has revealed that as part of the loan, funds were diverted to PSPWPL (30 per cent stakeholder in SEW LSY Highways Limited), which in turn infused the loan funds as promoter's contribution. A total amount of Rs 603.68 crore was disbursed to SEW LSY Highways Limited by the banks for the project, the statement said. "However, the project was not completed and the term loan became non-performing asset, resulting in outstanding amount of Rs 621.78 crore to the banks," the ED said. The agency said the search operations resulted in a seizure of financial documents evidencing suspected diversion of funds as well as property documents with a current market value of around Rs 120 crore in the names of the promoters and their family members. A total of 33 bank accounts belonging to SEW Infrastructure Limited, STNL as well as their directors and family members were frozen during the search operations. Further investigation is under progress, the ED said.


The Hindu
2 days ago
- The Hindu
₹621 crore bank fraud: ED raids firms
The Enforcement Directorate (ED) conducted search operations at six locations in Hyderabad in connection with a large-scale bank fraud linked to M/s SEW Infrastructure Ltd. (SIL), M/s Prasad and Company (Project Works) Pvt. Ltd. (PSPWPL), their group firms and promoters. The money laundering probe stems from a case registered by the Central Bureau of Investigation (CBI) against M/s SEW LSY Highways Limited and others for siphoning of loan funds, cheating and criminal misconduct, leading to loss of public money. M/s SEW LSY Highways Ltd was incorporated as a Special Purpose Vehicle (SPV) for the execution of a highway concession contract awarded by the Uttar Pradesh State Highway Authority to a consortium of M/s SIL and M/s PSPWPL. The SPV was sanctioned a term loan of ₹1,700 crore by a consortium of 14 banks led by Punjab National Bank. The Engineering, Procurement and Construction (EPC) contracts for the project were awarded to M/s SIL and its group entities, which in turn sub-contracted the work to other firms. The ED's investigation has revealed a complex web of intra-group sub-contracting through entities such as SEW Transport Networks Ltd (STNL), with work being passed on at successively lower values. This practice enabled the promoters to divert and siphon off substantial portions of the loan funds. PSPWPL, which held a 30% stake in the SPV, also received diverted funds and subsequently infused them back as the promoters' required equity contribution, instead of it coming from legitimate sources. Even after ₹603.68 crore was disbursed by the banks to SEW LSY Highways Ltd, the project remained incomplete and the loan account eventually turned into a non-performing asset. The outstanding amount now stands at ₹621.78 crore. During the search operations on July 22, the ED seized incriminating financial records and property documents, valued at approximately ₹120 crore, held in the names of the promoters and their family members. In addition, 33 bank accounts belonging to SEW Infrastructure Ltd, SEW Transport Networks Ltd, their directors and relatives have been frozen. Further investigation is underway.