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Nestle welcomes India's Supreme Court ruling in Maggi case
Friday, January 4, 2019, 7:45 AM
Food group Nestle said a ruling by Supreme Court marked a partial victory in its row with the government over Maggi noodles. Maggi, Nestle India's single-largest revenue earner, was banned in June 2015 for six months across the country following allegations it contained chemicals beyond prescribed limits. The company had to recall and destroy 38,000 tonnes of Maggi noodles from millions of retail shelves.
Supreme Court revives class-action suit against Nestle over Maggi
Thursday, January 3, 2019, 8:57 PM
Fresh trouble brewed for Nestle as the Supreme Court revived the class-action suit by the central government against it in the NCDRC. Accordingly, the NCDRC will continue the proceedings against Nestle based on the 2016 report of the Central Food Technological Research Institute (CFTRI) in Mysuru. Subsequently, Nestle cleared tests conducted by CFTRI, under the apex courts orders and was back in the market.
GST anti profiteering clause puts FMCG firms in a fix
Thursday, October 25, 2018, 8:39 AM
With input costs remaining high, manufacturers of consumer packaged goods have had little choice so far but to increase prices and protect their margins. But with anti-profiteering provisions of the goods and services tax now in place, increasing prices has become tricky. This clause requires companies to pass on the benefit of reduced tax rates by slashing their prices, bringing an element of ambiguity.
