The Ministry of Chemicals & Fertilizers (MoC&F) on September 25, 2024, issued a modification in the guidelines of the Production Linked Incentive (PLI) Scheme for the promotion of domestic manufacturing of critical Key Starting Materials (KSMs)/ Drug Intermediates and Active Pharmaceutical Ingredients (APIs) in the country (PLT scheme for Bulk Drugs), relating to the definition of Successor-in-interest.
The following has been stated: -
•Revised Clause in the Guidelines –
Successor-in-interest: Successor-in-interest shall mean the new or the reorganized entity formed after the merger, demerger, acquisition, or transfer of the business to any other entity including a wholly owned subsidiary or a significant change in ownership of an applicant.
The detailed notification is given in the document below.
[Notification No. 31026/39/2020-Policy/Scheme (Pt.2)]
