Packaged food company Nestlé said it would pass on to consumers any reduction in tax rates due to the introduction of the goods and services tax tomorrow. Companies are not obliged to pass on the benefit of lower taxes to consumers, and many are unlikely to. The Swiss giant said it won’t be one of […]
Nestle, the maker of Maggi Noodles, said all three tests mandated by the High Court of Bombay have proven that the noodles are safe to eat. “We have received test results from all three laboratories mandated by the Hon’ble Bombay High Court to test MAGGI Noodles samples. All the 90 samples, covering 6 variants, tested […]
Nestle welcomed the decision by the Bombay High Court to lift the ban on Maggi noodles imposed by Food Safety and Standards Authority of India and said it expects to see the product back on shelves soon. “(We) will comply with the order to undertake fresh tests,” Nestle said on the order. “It is Nestlé […]
Edelweiss, one of India’s biggest brokers, has downgraded Nestle India to ‘reduce’ from ‘hold’ over the controversy surrounding one of its biggest revenue drivers – Maggi noodles. Some state governments have alleged that the noodles contain lead and high levels of MSG, which the company denies. Sales of Maggi noodles are expected to have halved […]
