Business
Nestle India Stock Dips Three Percent After Food Safety Regulator Files Legal Cases
Reported by Rohit Yadav (Staff Writer) · Livemint - Markets ·
✓ — also reported by Economic Times - Markets
Representative image · Wikimedia CommonsMarket Impact
Shares of Nestle India fell by about 3 percent on Friday, September 18, following news that the food safety regulator has taken legal steps against the firm.
Regulatory Action
The Food Safety and Standards Authority of India has started three adjudication cases against Nestle India. This action comes after the company faced multiple non-compliance issues under the Food Safety and Standards Act.
Products Involved
The legal cases involve three specific product lines, which are Infant Nutrition, NAN Excella, and Lactogen. These steps by the regulator follow laboratory tests on a follow-up formula made by the company where a sample failed to meet required standards.
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