Patanjali fined Rs 75.08 crore for not passing GST benefits to consumers
The authority has directed the company to deposit the amount, along with 18% GST, to consumer welfare funds of Centre and the states within three months, according to an order passed on March 12.
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Patanjali group eyes Rs 25k crore turnover in FY20
Patanjali group will register a joint turnover of Rs 25,000 crore in the current fiscal en...
The aim is to push HUL to No 2 in five years: Ramdev
Patanjali will touch Rs 25,000 crore in revenue by the end of the current fiscal year.
Patanjali deposits equity for Ruchi Soya acquisition
Patanjali Ayurved has deposited its equity portion in a State Bank of India (SBI) escrow account, in what is the final step before it completes payments for the acquisition of edible oil maker Ruchi Soya.
Patanjali open to deals with MNCs: CEO
French luxury giant LMVH had in the past said it is keen to pick up equity in Patanjali. The ayurveda products maker had forced global and local players to step up their portfolio in this space as it became a Rs 10,000-crore-plus company in just about a decade. However, Patanjali has been losing ground in recent times.
Regulations may prove to be another Patanjali for FMCG firms
Proposed bans on single-use plastic and on sale of junk foods may prompt FMCG companies to change.
FMCG companies slash sanitiser, face mask prices by up to 70%
The Ministry of Consumer Affairs, Food and Public Distribution on Saturday issued a notification to cap the retail price of 3-ply masks at Rs 10 per piece, 2-ply masks at Rs 8 a piece and hand sanitisers at not more than Rs 100 per 200 ml, with lower or higher volume packs priced proportionately. The order is effective till June 30.
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NCLAT grants one more week to Patanjali Ayurved to complete Rs 4,350-crore Ruchi Soya deal
A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya extended the deadline to December 23. Earlier, on November 20, the appellate tribunal had extended the deadline till December 16 for implementation of the resolution plan for Ruchi Soya. The original deadline for implementation of the resolution plan was November 21.
NCLAT extends deadline to December 16 for implementation of Patanjali's bid for Ruchi Soya
NCLT had admitted the insolvency plea filed by two lead financial creditors Standard Chartered Bank and DBS Bank. However, later the Singapore-based DBS Bank became dissenting creditor and approached NCLAT challenging the distribution of proceeds from the bid submitted by Baba Ramdev-led Patanjali Ayurveda.
Patanjali Ayurved posts Rs 3,562 crore revenue for April-September
The company had reported a revenue of Rs 937 crore and Rs 1,576 crore in June quarter and September quarter of 2018-19, respectively. "The most remarkable and noticeable thing is that Patanjali Ayurved has made a comeback. It has achieved the highest ever H1 figure in its history," Patanjali spokesperson S K Tijarawala told.
SBI refuses to fund Patanjali’s Ruchi Soya buyout on its own
As much as Rs 3,700 crore of the acquisition cost was supposed to have been funded by bank loans with Patanjali infusing Rs 600 crore from its own internal accruals. Bankers are also wary of funding the home-grown consumer goods company after rating downgrades by rating agencies Care and ICRA in October.
Ruchi Soya acquisition plans on track; loans secured: Patanjali
Refuting reports that Patanjali Ayurved was finding it tough to raise fresh loans of Rs 4,000 crore following a downgrade by a ratings agency, Patanjali Ayurved chief executive Acharya Balkrishna said the downgrade by CARE was based on factors which had no relation to corporate guarantee not being offered by Patanjali.
Care Ratings downgrades Patanjali as acquisition raises risks
Care Ratings Ltd. downgraded Patanjali’s long-term bank facilities to A- from A+.
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