The National Company Law Tribunal (NCLT) Thursday approved yoga-exponent-Ram Dev-run Patanjali's revised Rs 4,350-crore bid to take over the edible oil maker Ruchi Soya, which owed banks over Rs 9,345 crore. However, the tribunal said the approval is subject to the tribunal resolution professional bridging the information gap regarding the exact source of funds worth Rs 600 crore (which is part of the bid amount) before the next date of hearing on August 1.
Coca-Cola is in exclusive talks to pick up a significant stake in Café Coffee Day (CCD) as the soft drinks giant looks to gain a foothold in the rapidly growing space and hedge risks associated with its core carbonated drinks business, said executives with knowledge of the matter.
American multinational company PepsiCo has filed a suit against four farmers of the state claiming that they have used its patented seeds to grow potatoes without prior permission. The court has given the farmers time till June 12 to respond to PepsiCo’s suit.
To keep a check on claims and misleading advertisements the food safety authority of India has come up with a new regulation to ensure that brands do not use words like ‘natural’, ‘fresh’, ‘organic’, ‘traditional’, ‘fresh’, etc. They've come up with definitive definitions for these words and brands will now have to go thru these guidelines and use these words.
Packaged foods maker Nestle India said Thursday it has ‘welcomed’ the Supreme Court order, even as the apex court revived the class-action suit by the central government against the company in the National Consumer Disputes Redressal Commission (NCDRC) in the Maggi noodles case. A bench headed by Justice D Y Chandrachud said the report from CFTRI (Central Food Technological Research Institute, Mysuru), where the testing of the Maggi noodle samples was conducted, will form the basis for the proceedings. Nestle India lawyer Rajesh Batra, speaking to ET Now, assured that Maggi is 100% safe and lead in Maggi has been proved to be within permissible limits.
The Supreme Court on Thursday revived the government's case in National Consumer Disputes Redressal Commission (NCDRC) against Nestle India seeking damages of Rs 640 crore on charges of unfair trade practices, false labelling and misleading advertisements.
2019 will be a very good year for milk farmers. Incentives by state and central Govt has helped tide over surpluses, says RS Sodhi of Amul to ET NOW.
After the FDI issued new norms to online retailers, the FSSAI has stepped up scrutiny and has come out with guidelines for online food and grocery players.
US headquartered breakfast cereal giant Kellogg's plans to give a desi twist to its Indian operations. More than two decades after setting foot in India, the Michigan based company has kick-started discussions with iconic home-grown snack maker Haldiram's for a mega alliance, multiple sources familiar with ongoing negotiations told ET NOW on the condition of anonymity. ET NOW was the first to report the story.
Kraft Heinz Co has agreed to sell a portfolio of its Indian businesses, including children's drink brand Complan, to Indian drugmaker Zydus Wellness Ltd, Bloomberg reported on Tuesday, citing sources. The deal with Ahmedabad-based Zydus, which is a unit of Cadila Healthcare Ltd, could be announced as early as this week, the report said, adding that Zydus has been discussing a value of about 46 billion rupees ($625 million) for the businesses. (Text: Reuters)
Nestle, Unilever and Coca-Cola are among companies shortlisted by GlaxoSmith-Kline for the second round of bidding for its Indian nutrition business, which includes the prized Horlicks brand, people familiar with the development told ET.
Patanjali launches five dairy products. Watch Baba Ramdev talk about the new products and their price.
Breakfast cereal maker Kellogg and UK healthcare giant Reckitt Benckiser Plc are the latest entrants in the race to acquire the consumer nutrition business of GlaxoSmithKline, joining Nestle, Unilever, Mondelez and Coca-Cola in the near $4.5-billion takeover pursuit, several people with knowledge of the matter told ET. Arijit Barman brings you all the details.
While tea startups are introducing the country to new flavours, India's tea industry is struggling to move up the value chain. Watch now and read the full story in ET Magazine, this Sunday (August 19).
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