Patanjali Foods, a major name in the edible oil industry, has announced its plans to acquire Patanjali Ayurved's home and personal care business for a whopping Rs. 1,100 crore. With this move, Patanjali Foods aims to solidify its position as a leading FMCG company. The acquisition, deemed to be a fair value and arms' length transaction, is being carried out by PAL, one of the promoters of Patanjali Foods.
The Supreme Court has issued notices to Baba Ramdev and Acharya Balakrishnan, founders of Patanjali Ayurved, for violating its orders and making false claims about their products. This comes following evidence presented by the Indian Medical Association (IMA), which accused Patanjali of disparaging other forms of conventional medicine. The apex court has imposed restrictions on Patanjali from advertising and marketing products that claim to cure ailments and prohibited the promotion of products claiming to cure diseases like heart ailments and asthma. However, Patanjali Foods has clarified that the court's observations do not pertain to them and will not affect their regular business operations or financial performance.
Patanjali Foods Ltd, established in 1986, operates in the Solvent Extraction industry, with headquarters in Mumbai. Its management includes Chairman Aacharya Balkrishna and Company Secretary R L Gupta, while Chaturvedi & Shah LLP serve as its auditor. Key information on its registered office, contacts, and financial data is provided.