Railway Minister Pawan Kumar Bansal in for more trouble as drug tests at family firm fail
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More trouble is brewing for Union Railway Minister Pawan Kumar Bansal as the Standing Committee of Parliament on Health and Family Welfare has observed that 13 drugs including one manufactured at a Himachal Pradesh unit of the family members of the minister "did not have permission to sell in any of the major developed countries nor had these relevance to the medical needs of India FDC of Pregabalin was being manufactured at the pharma unit of his son, Theon Pharmaceutical Limited at Nalagarh in Himachal Pradesh".
The Standing Committee observed that "there is no scientific evidence to show that these drugs are really effective and safe for Indian patients".
Interestingly this is the same company that had risen like a phoenix and its turnover jumped from 0 to 152 crores during year 2007 to 2012. It was during this period that Bansal grew in stature and occupied different ministerial berths including Minister of Parliamentary Affairs, Water Resources, Minister of State for Finance and now the coveted Railways portfolio.
The company, Theon Pharmaceutical, is registered at the minister's Chandigarh address (H.N. 64, Sector 28-A) has 11 directors including his wife Madhu Bansal, sons Amit Bansal and Manish Bansal, Monika Bansal (wife of Amit Bansal) and Shaina Bansal (wife of Manish Bansal).
Other directors are Bal Krishan Bansal, Mukesh Bansal, Lajpat Rai Bansal, Anshul Bansal and Punit Bansal. One Puran Chand Joshi is also a director of this company. This is the company which had a turnover of zero till 2007 and Rs 15.35 crore in 2008. In 2009 and 2010 the turnover was Rs 41.74 crore and 62.09 crore respectively. During 2011 it was Rs 105.27 crore. During the period ended March 31, 2012, sales and other income rose to Rs 152.16 crore. The company is into manufacture of antacid, anti-depression and anti-diabetic drugs.
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