Adani Wilmar's bid was approved by the committee of creditors of the bankruptcy-bound Ruchi Soya with about 96% votes in favour
Patanjali, the lone player left in contention after the exit of Adani Wilmar, had last month increased its bid value by around Rs 200 crore to Rs 4,350 crore for Ruchi Soya.
The Supreme Court on Tuesday said the Indian Medical Association president R V Asokan's unconditional apology published in a newspaper over his "damaging" statements in an interview to PTI was illegible and the font miniscule.
The Supreme Court Tuesday granted one-week time to yoga guru Ramdev, his aide Balkrishna and Patanjali Ayurved to issue a public apology in the misleading advertisements case, but said it was not letting them 'off the hook' now.
Patanjali Ayurved spokesman said, "Our present commercial is based on facts and research."
While members are bound to listen to ASCI, the self-regulator has frequently faced resistance from non-members, who've challenged its authority to redress grievances of complainants
Ruchi Soya was admitted to the corporate insolvency resolution process (CIRP) in December 2017 and owes lenders Rs 12,000 crore.
Four others MD of Ramdev-promoted Patanjali Ayurved Acharya Balkrishna; Director of National Institute of Medical Sciences and Research (NIMS), Jaipur, B S Tomar; his son Anurag Tomar; and senior scientist Anurag Varshney have also been named in the FIR, he said.
The company has a network of 4,000 distributors, 10,000 stores and 100 mega marts.
Ramdev's herbal medicine company Patanjali Ayurved has launched 'Coronil tablet and Swasari vati' medicines claiming they can cure the highly contagious disease within seven days.
However, the UP government said it has given one more month to Patanjali to meet the conditions required to get the final approval.
The company would venture into khadi products and animal feed this year, Ramdev said.
While the company did not reveal its profit or loss for the period, according to its fillings, food and beverages was the largest category - accounting for 62.23 per cent or Rs 5,184 crore of its total sales.
Patanjali continues to take its peers head on.
The man who owns close to 94 per cent of the shares of Patanjali Ayurved, an unlisted company, does not, however, take a salary or receive dividends.
Patanjali Ayurved, in collaboration with NIMS University, launched Coronil and Shwasari Vati, claiming to cure corona patients.
Asokan, who was present in the court, offered an unconditional apology to the bench and prayed for clemency.
Asokan said Ramdev went against the medical profession by saying "modern medicine is a stupid and bankrupt science".
Ruchi Soya Industries on Tuesday announced the acquisition of biscuits business from Patanjali Natural Biscuits Pvt Ltd (PNBPL) in a slump sale at Rs 60.02 crore.
While Ramdev claimed that Ayurved-based 'Coronil and Swasari' medicine have shown 100 per cent favourable results during clinical trials on COVID-19 infected patients except those on a life support system, the Ayush Ministry sought from the company detailed report on composition, testing and other data of the drugs.
The BAPS Hindu temple in Chino Hills, California, was desecrated, marking another incident targeting Hindu temples in the United States. The Bochasanwasi Akshar Purushottam Swaminarayan Sanstha (BAPS) condemned the act and called for unity against hate, while the Coalition of Hindus of North America (CoHNA) demanded a thorough investigation and highlighted a pattern of such incidents in recent years.
Flipkart co-founders Sachin Bansal and Binny Bansal, who were ranked 86th last year dropped out of the list
The proposed facility would be entitled to various incentives under central and state policies.
Patanjali, to a large extent, has penetrated the target group for its products. As a result, increasing the consumer base and revenue by 100 per cent in FY18 will be a stiff challenge.
Patanjali will respond to the notices received from the two regulators shortly
The complaint seeking registration of a first information report on cheating, criminal conspiracy and other charges was filed in the court of Chief Judicial Magistrate Mukesh Kumar here on Tuesday by Tamanna Hashmi, who identifies himself as a social worker and is often in news for his numerous court complaints against politicians over various issues.
Anti-profiteering authority puts Baba Ramdev-led company in the dock for allegedly not passing on benefits received from the reduced rate of taxation under the GST regime. Patanjali to respond to notice at January 28 hearing.
The Uttarakhand high court has quashed the order of State Revenue Board on alleged stamp duty evasion by yoga guru Ramdev's Patanjali Ayurved Ltd based in Haridwar.
Colgate's toothpaste volume growth for the March quarter was 3 per cent.
The upgrade, said Icra, takes into account the "robust internal accrual generation, leading to low reliance on debt, as well as gearing levels, and strong debt protection metrics".
The Indian Medical Association on Monday expressed shock over the 'blatant lie of World Health Organisation certification' for Patanjali's Coronil tablet, which the company claims is an evidence-based medicine to fight COVID-19, and demanded an explanation from Union Health Minister Harsh Vardhan in whose presence the medicine was launched.
The four 'gaushalas' or cow shelters will work on improving productivity of Indian cows up to 10 times
While both Dabur and HUL have been aggressive in the 'naturals' market with new launches across its portfolio, unchecked distribution expansion and inconsistent quality of products have also been at the heart of Patanjali's problems.
At the annual general meeting of Reliance Industries earlier this week, Isha Ambani, director at Reliance Retail Ventures, announced that the company is foraying into the fast-moving consumer goods (FMCG) space. But analysts say that only time will tell if this will lead to a disruption in India's FMCG market. While Reliance Retail's initial strategy is to take its own brands, which it currently sells at its own supermarkets and hypermarkets, to general trade, it is also looking at acquisitions.
Taking advantage of the absence of Nestl's Maggi noodles, Patanjali launched its own atta noodles last month.
The company claimed that the AYUSH ministry has "categorically agreed" that Patanjali had "appropriately worked on COVID-19 management".
Baba Ramdev's brand is pivoting away from franchise outlets and expanding its retail presence through the tried-and-tested channel distribution route of FMCG companies. Arnab Dutta reports.
Patanjali's packet milk to be lower than competitor brands by Rs 2 a litre
Patanjali doesn't employ any fancy managers with MBA degrees.
Deshmukh said on Twitter that it was "highly deplorable" that two senior Union ministers endorsed the drug.
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