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 of India is set to hear a case of contempt against Patanjali Ayurved, founded by yoga guru Ramdev and Acharya Balkrishna, over its misleading advertisements. This comes after the top court rejected the company's "unconditional apology" and questioned the founders' attitude towards the issue. The court also criticized Ramdev for providing a backdated ticket as an excuse for not appearing in court. IBNS aims to provide unbiased and factual news without any bias towards any political or religious ideologies.
The Supreme Court expressed its concern about FMCG companies deceiving innocent consumers and playing with public health. During the hearing, the court also pulled up Patanjali and extended its reservations to all FMCGs, stating that they are concerned with larger consumer base and larger industry. Attempts to have the court's orders tempered with mercy remained unfruitful and the court emphasized that the health of the public should not be compromised for the company's profit. Detailed reports about the hearing can be found in various media outlets.
The Supreme Court has rejected the apologies filed by Patanjali founders Ramdev and Balkrishna for their company's misleading ads, saying "we are not blind" and "we do not want to be generous." The court also criticized the Uttarakhand licensing authority for not taking action against Patanjali and demanded the suspension of three officers. The court's strong statements come after the company's attempts to apologize were seen as insincere and the government's failure to act against the violations.
The Supreme Court has refused to accept the apology of Patanjali and its founders, Balkrishna and Ramdev, for false and misleading advertisements. The court lashed out at the company for its deliberate violation of its undertaking and warned of serious consequences. The Central Government also stated that it is the individual's choice to opt for Ayush or allopathy and denigrating a healthcare system should be discouraged for the sake of public interest and mutual respect.
The Supreme Court has refused to accept a second round of apologies from yoga guru Baba Ramdev and Patanjali Ayurved Limited in a contempt case regarding misleading advertisements. The court flagged concern about FMCG companies taking advantage of the gullible public while the government fails to regulate them. The objectionable advertisements by Patanjali Ayurved, claiming to cure various illnesses including COVID-19, were deemed deliberate and wilful violations of the Drugs and Magic Remedies Act. The apex court had previously directed the company to refrain from making any statements about the efficacy of their products, but they continued doing so.
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.
The Supreme Court has restrained Patanjali Ayurved, founded by yoga guru Ramdev, from advertising or branding products meant for treating diseases. The court also issued notices to the company's managing director and asked why contempt proceedings should not be initiated against them for violating their undertaking about advertising and medicinal efficacy. The move comes after a plea by the Indian Medical Association alleging a smear campaign by Ramdev against the vaccination drive and modern medicines.
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.