The additional tariffs threaten thousands of small exporters and jobs in India, including Gujarat, and are expected to hurt growth in the world's fastest-growing major economy.
The corporate affairs ministry sent a notice to the company after the economic intelligence wing found transactions it labeled as abnormal and dubious
The high court had earlier ordered Ramdev not to issue any statement or share videos in future over Hamdard's products.
The exchange began on Tuesday when Baba Ramdev shared a video of himself running alongside a horse and claimed that using Patanjali’s Swarna Shilajit and Immunogrit Gold could provide anti-ageing benefits, increased stamina, and stronger immunity.
Baba Ramdev offers prayers and seeks divine intervention for the swift recovery of those injured in the Mahakumbh stampede.
According to the petitioner, the Patanjali product, which is sold with a 'green dot' symbolising that it was a vegetarian commodity, contains fish extracts.
While Patanjali Foods will turn into a more complete FMCG company post-acquisition, the transaction structure involving a royalty and slower market growth implies the gains will not be instant
The act bans advertising for 54 diseases including typhoid, venereal diseases, tuberculosis, impotence and pregnancy-related illnesses among others. The short 16-section law also empowers the authorities to penalise company executives for misleading ads.
Ramdev and Balkrishna seek time to file affidavit regarding steps taken to recall advertisement for medicines for which licence has been revoked. SC grants them three weeks.
Ramdev, whose yoga cures and ayurvedic products have made him popular in India, US and other countries, misled the public with claims his medicines could cure other diseases such as cardiac disorder and cancer, the filing showed.
A bench of justices Hima Kohli and Ahsanuddin Amanullah made it clear that the authorities seem to have acted only after SC started hearing the case.
The top court noted that there has been a marked improvement in the attitude of Patanjali management
This is IMA’s first comment since the Supreme Court's tongue lashing to Ramdev and his multibillion-dollar consumer goods empire Patanjali Ayurved last month over misleading ads. It comes a day before the top court is scheduled to hear the matter next.
Patanjali Foods said it also authorized officials to carry out due diligence, appoint professionals, negotiate the terms and conditions of the proposal
SC raps Uttarakhand State Licensing Authority for not taking action against Patanjali; SC posts case for hearing on April 16.
The Supreme Court is expected to deliver its final decision on the matter on April 10
The Supreme Court on April 2 refused to exempt Patanjali Ayurved promoter Ramdev and managing director Acharya Balkrishna from personal appearance even as it came down hard on the Centre for failing to act against the company’s claims during Covid outbreak. The court said Ramdev and Balakrishna’s affidavits apologising for violating their undertaking on advertisements for their medicinal products was mere “lip service”. It, however, refrained from passing any adverse order and granted them a week to file an affidavit. The case will now come up for hearing on April 10.
Patanjali advertisements case: The apology comes a day after Balkrishna and Baba Ramdev were summoned before the Supreme Court in the contempt proceedings relating to advertising of the company's products and their medicinal efficacy.
Besides shopping, dining, fuelling and e-commerce, the prepaid card comes with NCMC feature which will allow holders to use transit services such as NCMC enabled metro, buses, toll and parking across the country.
As Patanjali Foods readies to make inroads in the competitive FMCG market it has armed itself with an important weapon
The company had assured compliance after the exchanges had frozen promotors shares in March for not meeting minimum public shareholding of 25 percent
The development comes at a time when bourses said they have put a freeze on the shares held by promoters and promoter entities over the failure to meet the minimum public shareholding norm.
Stock exchanges NSE and BSE have frozen the shares of promoters of Baba Ramdev-led Patanjali Group firm Patanjali Foods, which is a major edible oil player.
"Cancer has increased a lot. The cases of this disease have gone up after the COVID-19 pandemic. People have lost their eyesight, their sense of hearing," he said.
The FIR was registered at Chauhatan police station based on a complaint filed by a local resident, Pathai Khan, a police officer said.