Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="9859177" type="UNKNOWN" weightage="60" keywordseo="aimmune">Aimmune</keyword> Therapeutics soared 172% on Monday after <keyword id="75190" type="CITY" weightage="60" keywordseo="Nestle">Nestle</keyword> Health Science agreed to acquire the company for $34.50 per share, or $2.6 billion.</li><li>Aimmune developed a treatment for <keyword id="2489686" type="PERSON" weightage="60" keywordseo="peanut-allergies">peanut allergies</keyword>, Palforzia, which was approved by the FDA in January of this year.</li><li>But the COVID-19 pandemic derailed Aimmune's Palforzia launch plans, leading to a substantial decline in its stock price.</li><li>Prior to today's acquisition, Nestle held a 25.6% stake in Aimmune after a 2016 investment.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/aimt-stock">Aimmune Therapeutics</a>, a biotechnology company that developed a treatment for peanut allergies, soared 172% on Monday after Nestle Health Science, a division of Nestle, <a href="https://www.globenewswire.com/news-release/2020/08/31/2085837/0/en/Nestl%C3%A9-to-acquire-Aimmune-Therapeutics.html">agreed to acquire the company</a> for $2.6 billion.In January, <a href="https://ir.aimmune.com/news-releases/news-release-details/fda-approves-aimmunes-palforziatm-first-treatment-peanut-allergy">the FDA approved Palforzia</a> as the first treatment ever for peanut allergies. But the COVID-19 pandemic <a href="https://ir.aimmune.com/news-releases/news-release-details/aimmune-therapeutics-announces-first-quarter-2020-financial">delayed Aimmune's commercialization plans</a> for the drug, resulting in a stock price decline of as much as 72% over the ensuing months.Palforzia is intended for children aged 4 to 17 years old, and is used to help reduce the frequency and severity of an allergic reaction to peanuts, including anaphylaxis, according to Aimmune. The drug is in pill form and is taken orally.Read more: <a href="https://www.businessinsider.com/stock-market-crash-david-morgan-report-expert-warns-likely-meltdown-2020-8?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">'Basically one mass manipulation': A market expert unloads on the central bank-driven 'failure' of the modern financial system - and says another stock meltdown is likely coming</a>Nestle already owned a 25.6% stake in the healthcare company. Shortly after the approval of the <keyword id="553092" type="PERSON" weightage="60" keywordseo="Peanut-allergy">peanut allergy</keyword> treatment in January, <a href="https://ir.aimmune.com/news-releases/news-release-details/aimmune-therapeutics-announces-additional-200-million-equity">Nestle announced a $200 million</a> follow-on investment in the company. Nestle had originally invested in Aimmune in 2016.Nestle expects the acquisition to be accretive to its organic growth in 2021, and accretive to cash earnings by 2022 or 2023, the company said. Nestle will launch a tender offer to acquire all shares it doesn't already own for $34.50, representing a 174% premium to Aimmune's Friday closing price of $12.60, and a total enterprise value of $2.6 billion.Nestle will <keyword id="25455" type="ORGANIZATION" weightage="60" keywordseo="finance">finance</keyword> the acquisition with cash on hand and expects the transaction to close in the fourth quarter of 2020.<div type="image" title="aimt chart.JPG" height="642" width="851" msid="77858592" hostid="261"></div>

Aimmune Therapeutics soars 172% after Nestle agrees to acquire the peanut allergy treatment company for $2.6 billion

<ul class="summary-list"><li>Prime Minister Denys Shmyhal said he spoke with <keyword id="12013502" type="UNKNOWN" weightage="60" keywordseo="nestle" source="Orion">Nestle</keyword>'s CEO about the "side effect" of continuing to do business in <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>.</li><li>The Swiss food giant has stopped shipping non-essential items to Russia but is still providing essentials.</li></ul><keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>'s prime minister said the CEO of Swiss food giant Nestle showed "no understanding" after he asked the firm to stop all of its business in Russia.Prime Minister Denys Shmyhal on Thursday said in a tweet that he spoke with Mark Schneider about Nestle's continued operations in Russia. "Unfortunately, he shows no understanding," Shmyhal wrote."Paying taxes to the budget of a terrorist country means killing defenseless children&amp;mothers," Shmyhal tweeted, adding that he hoped that "Nestle will change its mind soon."Russia has been hit with a slew of sanctions, aimed at crippling its economy, in response to its invasion of Ukraine. Large numbers of companies, many Western, have <a href="https://www.businessinsider.com/vladimir-putin-russia-survived-western-sanctions-economic-blitzkrieg-unemployment-inflation-2022-3">suspended their businesses</a> in Russia, with pressure mounting on firms that have remained to do the same.Nestle stopped shipping non-essential items such as coffee and mineral water to Russia, but is still providing essentials like pet and baby food, <a href="https://www.bloomberg.com/news/articles/2022-03-17/ukraine-prime-minister-urges-nestle-to-halt-business-in-russia?sref=lAVQtUwz">Bloomberg reported</a>."We consider conversations with governmental authorities private," a Nestle spokesperson told Bloomberg. "We will continue to do the utmost to deliver food to Ukrainians in the country and to support Ukrainian refugees in many countries."Nestle did not immediately respond to Insider's request for comment.Nestle earned $1.8 billion in revenue last year from Russia – where it has six factories and over 7,000 employees – which accounted for about 2% of Nestle's total revenue in 2021, according to Bloomberg. On March 3, Nestle <a href="https://www.businessinsider.com/nestle-reopens-ukraine-essential-food-deliveries-continue-2022-3">resumed some operations</a> in Ukraine in order to support the delivery of essential food and beverage supplies, having shut them down when Russia invaded Ukraine on February 24.Companies that remain in Russia, such as yogurt producer Danone, have argued that they're providing products that Russians need for survival, Bloomberg reported. Companies are also <a href="https://www.businessinsider.com/russia-could-seize-assets-foreign-companies-exiting-ukraine-war-2022-3">facing threats of asset seizures</a> if they leave the country.

Ukraine's Prime Minister says Nestle CEO showed 'no understanding' after he urged the firm to cease all business in Russia

After around eight years of starting its India operations, Italian chocolate maker Ferrero has posted revenues of Rs 929 crore from September to March 2015. It was from August 2014 that the Kinder Joy maker had changed its accounting year. These profits have left behind Nestle's chocolate division, which posted revenue of Rs 1,110 crore from January to December 2015. 
 
On the other hand, Mondelez, which sells Cadbury chocolates and leads the chocolate segment, has annual revenues of over Rs 6,500 core. 
 Three years ago, Nestle's chocolate business in the country had three times more revenue than <keyword id="1647733" type="UNKNOWN" weightage="100" keywordseo="Ferrero-India">Ferrero India</keyword>. 
 
As per experts, it was because of diversification offered by Ferrero that this feat was possible to achieve. "Brands like Ferrero with no historic baggage has discovered and led the top down approach of premiumising through innovation versus old school thinking of focusing mainly on low priced products. Ferrero has shown that there is a large markeven at the top end," Devendra Chawla, president - FMCG and Brands at Future Group, told <a href="http://economictimes.indiatimes.com/industry/cons-products/food/ferrero-overtakes-nestle-in-india-chocolate-revenues/articleshow/53089798.cms">ET</a>. 
 
Another reason behind Ferrero’s success could be the huge amounts that it has invested or plans to invest in the country’s chocolate segment. As per latest regulatory filings, it will be investing Rs 375 crore here, while doubling its authorised capital to Rs 1500 crore. 
 
<a href="http://ferrerochocolates.com.au/assets/uploads/images/High_Resolution_GFR_landscape_large.jpg">Image source</a>

Ferrero India registers more revenues than Nestle

The Bombay High Court today allowed Nestle to export its Maggi noodles, though its nationwide ban would continue. 
 The court was hearing <keyword id="6356830" type="CITY" weightage="80" keywordseo="Nestle-India">Nestle India</keyword>’s petition challenging <keyword id="154680" type="ORGANIZATION" weightage="80" keywordseo="FSSAI">FSSAI</keyword>’s current ban of Maggi’s nine variants. The company has also questioned a similar order by the Maharashtra government that prohibits the sale of the snack stating it is unsafe for consumption. 
 
Nestle's attorney Iqbal Chhagla said that by the end of the month the company would destroy 17,000 Crore packets of Maggi. 11,000 Crore out of these are being recalled from the market. 
 
FSSAI and others have filed affidavits to oppose Nestle's petition seeking relief from the current ban. 
 
(Image credit: Indiatimes)

Nestle allowed to export Maggi banned in
India

FMCG major <keyword id="6356830" type="General" weightage="100" keywordseo="nestle-india" source="Orion">Nestle India</keyword> on Wednesday declared an interim dividend of Rs 27 for 2023 for the entire issued share capital. The board of the company in a meeting held on Wednesday approved "an interim dividend of Rs 27 per equity share of Rs 10 each for the year 2023 on the entire issued, subscribed and paid-up share capital of the company of 9,64,15,716 equity shares of the nominal value of Rs 10 each," the company said in a regulatory filing. <keyword id="75190" type="General" weightage="20" keywordseo="Nestle" source="Orion">Nestle</keyword> India which follows the January-December calendar year as financial year said, the interim dividend for 2023 will be paid on and from May 8, 2023, along with the final dividend for the year 2022, if approved by the members at the 64th <keyword id="50158" type="General" weightage="20" keywordseo="annual-general-meeting" source="Orion">Annual General Meeting</keyword> scheduled to be held on April 12, 2023. It has fixed April 21, 2023, as the record date to determine the eligibility of shareholders for the payment of said interim dividend. Nestle India is going to declare its results for the March quarter on April 25, 2023. On October 31, 2022, Nestle India declared a second interim dividend of Rs 120 and a final dividend of Rs 65 on Apr 21, 2022. Shares of Nestle India were trading at Rs 19,401.40 on <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword> in the afternoon, down 1.38 per cent from the previous close. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/these-people-are-being-followed-by-elon-musk-on-twitter/slidelist/99433040.cms">Narendra Modi to ex-partner Grimes: These are people Elon Musk follows on Twitter</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/news/more-insurers-capital-distributors-and-healthy-competition-required-to-make-insurance-for-all-by-2047/articleshow/99431110.cms">More insurers, capital, distributors and healthy competition required to make insurance for all by 2047</a>

Nestle India declares interim dividend of 27 for 2023

<ul class="summary-list"><li><keyword id="75190" type="CITY" weightage="60" keywordseo="Nestle">Nestle</keyword> said it would sell its North American <keyword id="15300" type="ENTERTAINMENT" weightage="60" keywordseo="Water">water</keyword> brands to two private equity firms for $4.3 billion.</li><li><keyword id="10776708" type="UNKNOWN" weightage="60" keywordseo="One-Rock">One Rock</keyword> Capital Partners and Metropoulos &amp; Co. will buy the brands, including Pure Life and Poland Spring.</li><li>Nestle's Perrier, S.Pellegrino, and Acqua Panna brands aren't part of the sale, it said.</li></ul>Nestle said on Wednesday it would sell Pure Life and some other struggling North American water brands to two private equity firms for $4.3 billion, as the food giant doubles down on its premium offerings including Perrier.The sale, to <a href="https://markets.businessinsider.com/news/stocks/one-rock-capital-partners-and-metropoulos-co-to-acquire-nestl%C3%A9-waters-north-america-1030089671">One Rock Capital Partners and Metropoulos &amp; Co</a>, includes brands such as Poland Spring, Deer Park, Ozarka, Ice Mountain, Zephyrhills, Arrowhead, and Splash, as well as US office beverage delivery service ReadyRefresh.Perrier, S.Pellegrino and Acqua Panna, which contributed to the growth recovery of <a href="https://www.businessinsider.com/nestle-explores-sale-of-pure-life-as-part-of-water-business-review-2020-6">Nestle's North American water business</a> in the third quarter, are not part of the sale agreement, the company said."This sale enables us to create a more focused business around our international premium brands, local natural mineral waters and high-quality healthy hydration products," CEO Mark Schneider said in a statement.<a href="https://www.businessinsider.com/nestle-to-buy-aimmune-therapeutics-for-26-billion-2020-8">Nestle</a>, headquartered in Vevey, Switzerland, said in June last year it was exploring a potential sale of part of its North American water business. Reuters exclusively reported its talks with One Rock Capital earlier this month.New York-based One Rock said Dean Metropoulos, founder of Metropoulos &amp; Co, would become Nestle Waters North America's chairman and interim chief executive officer after the deal closes."As a private company, the business is expected to have greater resources and flexibility to drive continued growth, strengthen its existing operations," One Rock partner Kimberly Reed said.The <a href="https://www.businessinsider.com/nestle-water-north-america-ceo-addresses-backlash-2018-12">Nestle Waters North America division</a> has about 7,000 employees in the United States and more than 230 in Canada, according to One Rock.One Rock manages about $3.2 billion of committed capital across three flagship funds, according to its website.

Nestle will sell several water brands, including Pure Life and Poland Spring, to 2 private equity firms for $4.3 billion

<keyword id="6356830" type="CITY" weightage="80" keywordseo="Nestle-India">Nestle India</keyword>, which is recalling Maggi from the market citing customers’ faith has been shaken, now has another issue to struggle with. 
 
The company would not be able to access and recall as much as 35-40% of the total stock across the country as millions of outlets selling Maggi are outside the company's direct network. 
 
Nestle directly reaches around two million outlets where it sells products through its own distributors or wholesalers. But, according to a data by market researcher Nielsen, the company’s products reach 47% of India's estimated 8.8 million retail outlets. 
 
This means, over two million stores that sell Maggi are serviced through middlemen, semi-wholesalers or even larger kirana owners. 
 
"At any given time, about 40% of the products are difficult to trace in the complex trade system," Mayank Shah, deputy marketing manager at Parle Products, told Economic Times. 
 
"We can always go to wholesalers where we supplied products directly, but there are villages with less than 2,000 people where products are distributed by semi-wholesalers in small batches. To get those packs back is neither possible nor economical," Shah further said. 
 
The financial daily reported that even if Nestle was able to recall 100% of the Maggi stock from its distribution network, it would still not be able to reach at least half the total outlets resulting in about one-third of the product by volume being left on shelves. 
 
"Recall is difficult to implement and it won't be efficient in rural areas," Abneesh Roy, associate director at Edelweiss Securities, told ET. 
 
RS Sodhi, managing director at Gujarat Co-operative Milk Marketing Federation that makes Amul dairy products, told the financial daily that a complete pullout of Maggi from the Indian market will be complex considering the deep penetration of the product into every nook and corner of the country. 
 
"It will take 5-7 days for distributors to withdraw the stocks from retailers. But in smaller towns and villages, unless the distributors reach out to the smallest retailer, the stocks will remain, which is what may become a big challenge," said Sodhi. 
 
A senior executive with a retail chain that had stopped selling Maggi on its own told ET that its contract with Nestle ensures the company will take back all unsold stock. 
 
Despite the recall, some online grocery sellers were selling Maggi till late Saturday. While most popular online players had stopped selling the product, orders could be placed for as many as 40 packs on sites such as OneKirana and WeAreOpen. 
 
OneKirana founder Megha Singh said a few orders were accepted by mistake. 
 
(Image: Indiatimes)

Nestle India hits roadblock in re-calling Maggi. More than 40% stock out of its reach

FMCG major <keyword id="6356830" type="General" weightage="80" keywordseo="nestle-india" source="Orion">Nestle India</keyword> is increasing the number of its women employees as part of its gender diversity efforts. Presently, around 23 per cent of <keyword id="75190" type="General" weightage="100" keywordseo="nestle" source="Orion">Nestle</keyword> <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s workforce are women, its Chairman and Managing Director <keyword id="2691730" type="General" weightage="20" keywordseo="suresh-narayanan" source="Orion">Suresh Narayanan</keyword> said on Monday. "We moved a fair degree on this. When I came to Nestle India in 2015, at that time we were at about 15-16 per cent. We have moved now to 23 per cent," Narayanan told reporters at a virtual media roundtable. Nestle India, which currently operates eight plants in the country and will soon commission the ninth, employs over 7,700 people. "That is not the end, we would like to do much better than this. And in fact last year in 2020, 42 per cent of all the recruitment that we did within the company were women candidates and it is a trend that is continuing this year as well," Narayanan added. At Nestle's new plant in Sanand, Gujarat, which will manufacture its range of popular instant noodles <keyword id="6369404" type="General" weightage="20" keywordseo="maggi" source="Orion">Maggi</keyword>, 62 per cent of the employees would be female. "One of the epitomes of diversity for the company would be getting commissioned in the next few weeks. Our factory in Sanand is almost near completion. 62 per cent of the Sanand factory workforce would be women," he said. Nestle is investing around Rs 700 crore in the Sanand plant. Besides, Narayanan said Nestle India has invested about Rs 300 crore so far on augmenting capacity of its existing plants. This is part of its earlier announced plans to invest Rs 2,600 crore in the next three-four years. Nestle India has also submitted proposals for the government's Production-Linked Incentive (PLI) scheme for the food processing sector. However, he did not divulge any details. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/salesforce-ventures-backs-indian-payments-giant-razorpay-as-it-looks-to-expand-further-outside-india/articleshow/86388953.cms">Salesforce Ventures backs Indian payments giant RazorPay as it looks to expand further outside India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/oneplus-sends-legal-notice-to-lawyer-who-alleged-nord-2-explosion-asks-him-to-remove-tweets-and-offer-an-apology/articleshow/86388611.cms">OnePlus sends legal notice to lawyer who alleged Nord 2 explosion — asks him to remove tweets and offer an apology</a>

Maggi maker Nestle says more than 60% of its employees at its new plant in Gujarat would be women

Have you ever thought about an alternative to <keyword id="726194" type="UNKNOWN" weightage="100" keywordseo="maggi-noodles">Maggi noodles</keyword>? Well, <keyword id="6356830" type="CITY" weightage="100" keywordseo="Nestle-India">Nestle India</keyword> is mulling over it. 
 
After the two-minute noodles was banned in India over excess lead content and MSG in it, Nestle India has started working hard to come up with a snack that would replace Maggi till it is repositioned. 
 
"With no clarity over when Maggi in its existing form will be back on shelves, Nestle is working on alternate snacking options," one of two persons who confirmed the development told Economic Times, adding “Snacking is a huge opportunity which Nestle doesn't want to vacate, and it already has an existing backend for the culinary business." 
 
While re-launching Maggi could take several months, Nestle India might launch a ready-to-eat or ready-to-cook food. 
 
Nestle was guarded in its response to ET's queries. "We are working hard to resolve the situation and we aim to be back in the market as soon as we can. Adhering to Nestle's rigorous quality policies and testing protocol, we are confident that we will come back soon, ensuring food safety, as we always do," the Nestle spokesperson told the financial daily. 
 
Maggi noodles accounts for a third of Nestle India’s business with sales of over Rs 2,000 crore. 
 
Due to the ban, the plants in Punjab, Uttarakhand, Karnataka, Goa and Himachal Pradesh are suspended. 
 
Meanwhile, Nestle India is working together to re-build the brand. Nestle Global Chief Executive Paul Bulcke said that the Maggi products were completely safe and were re-called as consumers faith had shaken. 
 
"Food has never been safer. But there is this perception and we have to work on that. The only thing that interests me is to have the product back as soon as possible and that things are cleared up," he told news agency AFP. 
 
"Any health concerns raised by a credible source such as FSSAI will most certainly damage customer loyalty and consideration of a food brand," said David Haigh, CEO of the London-based brand valuation consultancy. 
 
(Image: Indiatimes)

Is Nestle India planning to ditch Maggi?

Nestle India has announced the brand is set to lose a whopping Rs. 320 Crores plus from the destruction of its instant noodles. 
 
The brand has been combating the worst-ever brand crisis in the history of India since Maggi samples were found to contain monosodium glutamate (MSG) and excess lead. 
 
The company has challenged the charges against it in court but is forced to withdraw until a resolution is reached. 
 
Nestle said the approximate value of its stocks is around Rs. 210 Crores. The company also has ready stocks of Maggi and related products in its factories and distribution centers that is worth around Rs. 110 Crores. 
 
Nestle withdrew Maggi noodles off the shelves on June 5. The company says its noodles are safe and that FSSAI’s testing facility is faulty. 
 
(Image credit: Indiatimes)

Nestle India to lose more than Rs. 320 Crores from
Maggi crisis

Following the recent crackdown by regulators over safety issues, food companies such as <keyword id="75190" type="CITY" weightage="80" keywordseo="Nestle">Nestle</keyword>, Amul, <keyword id="6357073" type="ORGANIZATION" weightage="20" keywordseo="ITC">ITC</keyword> and <keyword id="6376312" type="COMPANY" weightage="80" keywordseo="Mother-Dairy">Mother Dairy</keyword> have realized the importance of reaching out to its customers and have hence started consumer engagement exercises. 
 While Nestle has launched videos which show bachelors professing their love for <keyword id="6369404" type="PERSON" weightage="20" keywordseo="Maggi">Maggi</keyword> and articulating how much they miss it, Kolkata-based food and cigarette major ITC has come up with films that highlight the safety of Sunfeast Yippee noodles. The latest Youtube video show Yippee noodles being made in a sanitized environment in its factory. 
 Similarly, <keyword id="3026737" type="UNKNOWN" weightage="80" keywordseo="Gujarat-Cooperative-Milk-Marketing-Foundation">Gujarat Cooperative Milk Marketing Foundation</keyword> (GCMMF), the maker behind the Amul brand of dairy products has been running ads emphasizing on the fact that their products are undergoing regular quality checks. Its rival, Mother Dairy is also not behind. Its ad campaign doing the rounds on social media shows its consumer on a plant visit. 
 
Meanwhile Nestle, the brand which was worst hit by regulators is already plotting the comeback of Maggi, piggybacking on its recent Maggi videos attracting around nine lakhs views in three days. 
 
"These short films reflect the spontaneity and affection between consumers and Maggi. We are making efforts to get Maggi Noodles back on the shelves and have been overwhelmed by the messages of love and support that we receive each day. Such messages strengthen our resolve to be back with our beloved consumers. We want to share the warmth of our relationship through these films," told a Nestle Indian spokesperson to Economic Times. 
 
Image credit: Indiatimes

Nestle, ITC, Amul among companies to start consumer engagement exercises

<ul><li>During the Supreme Court hearing, <keyword id="6356830" type="ORGANIZATION" weightage="20" keywordseo="nestle-india">Nestle India</keyword>’s lawyer reportedly said that the reports have shown that lead in the product in question was ‘below detectable limits’ in its <keyword id="411839" type="PERSON" weightage="20" keywordseo="Instant-noodles">instant noodles</keyword>. </li><li>The instant noodles has been in trouble for allegedly having high quantities of lead and MSG (Monosodium Glutamate). </li><li>The apex court gave greenlight to the National Consumer Disputes Redressal Commission (NCDRC) to proceed with a class-action suit against Nestle for allegedly selling <keyword id="6369404" type="LOCATION" weightage="20" keywordseo="maggi">Maggi</keyword> noodles that failed to meet food standards. </li><li>In 2015, the food regulator FSSAI banned Nestle’s Maggi for six months along with destroying over 30,000 tonnes of instant noodles.</li></ul>Maggi noodles manufacturer, Nestle, <a href="https://in.reuters.com/article/nestle-india/nestle-welcomes-indias-supreme-court-ruling-in-maggi-case-idINKCN1OX14J">welcomed </a>Supreme Court’s ruling on Thursday, saying that it has marked a partial victory for them over Maggi noodles. During the hearing, Nestle India’s lawyer reportedly said that the reports have shown that lead in the product in question was <a href="https://retail.economictimes.indiatimes.com/news/food-entertainment/personal-care-pet-supplies-liquor/lead-in-maggi-below-detectable-limits-nestle-lawyer/67375320">‘below detectable limits’</a> in some samples while very little quantities of lead was detected in others. A senior counsel added by saying that ‘some amount of lead is present in a lot of products.’ Appearing for Nestle, he also said that the permissible limit of lead after scientific evaluation is 2.5 parts per million (PPM) and the tiny particles can come from nature. The statement came as the Supreme Court gave greenlight to the National Consumer Disputes Redressal Commission (NCDRC) to proceed with class-action suit against Nestle for allegedly selling maggi noodles that failed to meet food standards. The instant noodles was questioned for allegedly having high quantities of lead and MSG (Monosodium Glutamate). The apex Court also said that the samples tested in Central Food Technological Research Institute will form the basis of the proceedings. The class-action suit was originally filed three years ago, against the food makers, <a href="https://www.bloombergquint.com/business/sc-revives-govt-s-case-in-ncdrc-against-nestle-india-2#gs.KMugdCMj">seeking ₹6.4 billion</a> as compensation for unfair trade practices, under Consumer Protection Act. Following this, the company appealed for stay orders until the samples seized are tested and analysed. In 2015, the food regulator FSSAI banned Nestle’s maggi for six months along with destroying over 30,000 tonnes of instant noodles. See also: <a href="https://www.businessinsider.in/now-you-can-trade-10-old-maggi-wrappers-for-a-new-packet-nestle-india-launches-pilot-project-to-fight-plastic-menace/articleshow/66635723.cms">Now you can trade 10 old Maggi wrappers for a new packet — Nestle India launches pilot project to fight plastic menace</a> <a href="https://www.businessinsider.in/indias-food-regulator-has-kicked-off-the-new-year-with-a-set-of-new-food-standards/articleshow/67347633.cms">India’s food regulator has kicked off the new year with a set of new food standards</a> <a href="https://www.businessinsider.in/indias-food-regulator-to-launch-rigorous-inspections-on-food-companies/articleshow/67090806.cms">India’s food regulator to launch ‘rigorous’ inspections on food companies</a>

You Searched For "Nestle" and got 12 results

Aimmune Therapeutics soars 172% after Nestle agrees to acquire the peanut allergy treatment company for $2.6 billion

Matthew Fox

Ukraine's Prime Minister says Nestle CEO showed 'no understanding' after he urged the firm to cease all business in Russia

Urooba Jamal

Ferrero India registers more revenues than Nestle

BI India Bureau

Nestle allowed to export Maggi banned in India

BI India Bureau

Nestle India declares interim dividend of 27 for 2023

PTI

Nestle will sell several water brands, including Pure Life and Poland Spring, to 2 private equity firms for $4.3 billion

Kate Duffy,Reuters

Nestle India hits roadblock in re-calling Maggi. More than 40% stock out of its reach

BI India Bureau

Maggi maker Nestle says more than 60% of its employees at its new plant in Gujarat would be women

PTI

Is Nestle India planning to ditch Maggi?

BI India Bureau

Nestle India to lose more than Rs. 320 Crores from Maggi crisis

BI India Bureau

Nestle, ITC, Amul among companies to start consumer engagement exercises

BI India Bureau

Nestle asserts lead content in Maggi noodles is ‘below detectable limits’ following Supreme Court of India ruling to reopen class-action case

BI India Bureau

Popular Keywords

Buying Guides