In two separate affidavits filed in the apex court, Ramdev and Balkrishna tendered unqualified apology for the 'breach of the statement' recorded in the November 21 last year order of the apex court.
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
"This is historic that our maiden issue of Rs 250 crore NCD is fully subscribed within 3 minutes of opening of the issue... This shows the excitement and faith of investors, said Patanjali Ayurved Managing Director Acharya Balkrishna.
The bench said it has no doubt in its mind that Patanjali had an intention to flout the court order.
Ramdev and Balkrishna have tendered an "unconditional and unqualified apology" before the apex court over advertisements issued by the firm making tall claims about the medicinal efficacy of its products.
The company further said, "We humbly respect the Supreme Court of India and if we make false advertisements or propaganda, we would not have any objections if honourable court imposes a fine of crores or even give us a death sentence."
Baba Ramdev's Patanjali Ayurveda will launch its instant noodles next week at a price of Rs 15.
'Merely keeping low price may help in the lower segment initially but people have become much more aware and careful about their health and it will eventually determine value for money.'
While Maharashtra Home Minister Anil Deshmukh warned the yoga guru that the state government won't allow the sale of 'spurious' medicines, Rajasthan Health Minister Raghu Sharma also said that the state government will not allow the sale of Patanjali's Ayurvedic formulation.
The notice says the company can restart manufacturing these products only after the authority approves their revised formulation sheets.
During the brief hearing, the bench asked Patanjali Ayurved not to publish misleading claims and advertisements against modern systems of medicine.
India's premier defence research organisation, DRDO has now roped in yoga guru Ramdev's Patanjali Ayurveda Limited to manufacture and market in the country and abroad some herbal supplements and food products developed by it.
Deshmukh said on Twitter that it was "highly deplorable" that two senior Union ministers endorsed the drug.
Baba Ramdev's Patanjali Ayurved is considering bidding for the title sponsorship of the upcoming Indian Premier League, according to a company official.
The Centre has decided to keep ayurveda products in the mid-range of the goods and services tax
In many respects, Ramdev is also among the busiest FMCG brand ambassadors.
Ramdev made nature-to-goodness products popular, and reaped benefits. Then he seemed to lose focus and the last thing it needs is more distraction, like the passionate founder shooting his mouth off yet again
Dabur has launched 44 products during the year.
Patanjali doesn't employ any fancy managers with MBA degrees.
State Ayurved Department's licence officer Y S Rawat said the notice is being issued to the firm to explain from where it got the permission to launch a 'corona kit' as a cure from the virus.
Kapiva's plans to introduce allopathy-like doses of ayurvedic remedies for the millennial consumer finds traction.
The Supreme Court on Tuesday reserved its order on the contempt notice issued to yoga guru Ramdev, his aide Balkrishna and Patanjali Ayurved Ltd in the misleading advertisements case.
The four 'gaushalas' or cow shelters will work on improving productivity of Indian cows up to 10 times
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.
Ramdev's company remains a dominant player in the naturals space, but products of rivals are also gaining popularity.
The minister said that his ministry will clear its stance on Patanjali's ayurvedic drugs after reviewing the report sent by it.
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.
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 company claimed that the AYUSH ministry has "categorically agreed" that Patanjali had "appropriately worked on COVID-19 management".
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.
To stay in the race for the long term, the company has to innovate continuously - something that MNCs and some of the home-grown Indian firms have been doing successfully, says Sangeeta Tanwar.
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.
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.
Patanjali's packet milk to be lower than competitor brands by Rs 2 a litre
'The wonderful thing about being a journalist is that when someone tries to muzzle your work, it's a badge of honour.' 'You know you've done something right,' Priyanka Pathak-Narain, the author of Godman To Tycoon: The Untold Story Of Baba Ramdev, tells Sunil Sethi.
In the coming months, Lever Ayush will venture into categories beyond soaps, shampoos, toothpastes, lotions and moisturisers, its current segments of operation, as it seeks to give the brand a horizontal push.
Patanjali Ayurved, in collaboration with NIMS University, launched Coronil and Shwasari Vati, claiming to cure corona patients.
The Patna and Raipur chapters of the Indian Medical Association (IMA) have lodged complaints in 2021 alleging Ramdev's remarks were likely to cause prejudice to Covid control mechanism and may dissuade people from availing proper treatment.
"The allegations may be right or maybe wrong. He may say he did not say any such thing... It needs to be looked into," said the judge.
There has been a lot of concern in the FMCG industry after Patanjali's revenues crossed Rs 5,000 crore, on the back of an increased focus on health following the ban on Maggi noodles.
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