Dr. L.H.Hiranandani Hospital, Mumbai Is Found Guilty Of Anti-Competitive Conduct in the stem cell banking market. Competition Commission of India(CCI)Has Imposed Penalty Of Rs 3,81 karor -On The Hospital This Is 4% of the average turnover of OP hospital.
C C I has found Dr. L.H. Hiranandani Hospital, in contravention of Section 3 of the Competition Act, 2002.This Action Has Been Taken On The Complaint Of Mr Ramakant Kini
The informant Mr. Kini had approached C C I alleging anti-competitive conduct by Dr. L.H. Hiranandani Hospital By Patronizing M/s Cryobank And Debarring Other Competitors.
Consequent upon detailed investigation by Director General, the Commission concluded that the exclusive agreement between Dr. L.H.Hiranandani Hospital and M/s Cryobank was anti-competitive being in contravention of the provisions of section 3(1) of the Act as it had caused an appreciable adverse effect on competition in the stem cell banking market.
Accordingly, C C I, under Section 27 of the Act, has passed the following order:-
“(A) The agreement of OP hospital with Cryobank for the years 2011-12 and 2012-13 are declared null and void.
(B) The OP hospital shall not enter into a similar agreement with any stem cell bank in future.”
(C)also imposed a penalty of Rs. 3,81,58,303/- calculated at the rate of 4% of the average turnover of OP hospital. The penalty is to be deposited within 60 days of receipt of the order.
Padmabhushan Dr L H Hiranandani
[1]The American Society of Head & Neck Surgery elected him as their first Indian member.
[2] The International Federation of Otolaryngology and Head & Neck Societies awarded him the “Golden Award” the first Indian and fifth in the world to receive it.
[3]He has been voted as “Millennium ENT” by SAARC Countries.
[4]Social causes had deeply motivated him. In 1973 he gave up a vibrant private practice to undertake social work in drought areas of Maharashtra for period of 8 months
.[5] He had directed aid for the flood affected people in Odisha and Bihar.
[6] He was awarded “Maulana Azad Award” by Indian National Congress in recognition of exemplary work during 1993 communal riots in Mumbai.
[7] In the field of medical ethics he had spear-headed the passing of the Human Organs Transplantation Bill by Lok Sabha in 1994. By this act the buying of kidneys is declared as a crime.
[8] His humane nature made him stand up for the rights of people and fight against capital punishment and euthanasia.
[9]For his contribution to the nation, the Government of India awarded him the Padmabhushan (An honour bestowed to only a few) in the year 1972.
[10] In 1988, was conferred the “Dhanvantari Award”, first time awarded in the field of ENT, for his notable contribution to science of medicine
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