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Patanjali Ayurved Limited, which is owned by Baba Ramdev, is planning to sell its non-food business, which includes products like toothpaste, oil, soap, and shampoo.
The Supreme Court verdict has come immediately after the case of Patanjali for its fraudulent advertisements in medicine. It was after the persistent perusal
The board also authorised officials to carry out due diligence, appoint professionals, negotiate the terms and conditions of the proposal, and report the findings to the Audit Committee and the board for further consideration. To strengthen its product portfolio, Patanjali Foods acquired the biscuits business of Patanjali Natural Biscuits Pvt Ltd for Rs 60.03 crore in May 2021.
In a regulatory filing, Patanjali Foods informed that its board has discussed the initial proposal received from Patanjali Ayurved Ltd for a sale of the latter's non-food business undertaking to the company.
Patanjali Ayurved continues to faces rigorous scrutiny from the Supreme Court over misleading advertisements, with the case underscoring the vital need for strict regulatory oversight in health-related advertising in India.