Regulations
Take action against Maggi brand ambassadors, officials: CAIT
Noting that the Food Safety and Standards Authority of India (FSSAI) has commenced proceedings against Maggi noodles, the Confederation of All India Traders (CAIT) on Sunday demanded action against its brand ambassadors and the officials, too, who approved the product.
 
In a communication to union Consumer Affairs Minister Ram Vilas Paswan and Health Minister J.P. Nadda, the CAIT said: "When proceedings against Maggi are launched by the FSSAI, why is no action being taken against its brand ambassadors and the chain of officials who approved the product despite it having either deficiencies or exaggerated claims."
 
In a press release here, the CAIT said it is worried as lakhs of traders across the country dealing in fast moving consumer goods (FMCG) products are suffering losses due to the Maggi controversy since it has damaged the confidence of consumers and the traders as well.
 
"The brand ambassadors of Maggi have violated section 24 of the Food Safety and Standards Act, 2006 and, therefore, proceedings must be initiated against them also besided taking action against the manufacturer," CAIT national president B.C. Bhartia and secretary general Praveen Khandelwal told the ministers, according to the release.
 
They urged Paswan and Nadda to take immediate cognizance of the issue and issue appropriate directions to the authorities concerned.
 
Maggi brand ambassadors include Bollywood actors Amitabh Bachchan, Madhuri Dixit and Preity Zinta.
 
Maggi noodles -- manufactured by the multinational Nestle -- is facing flak after its samples were found to contain excessive lead higher than permissible limits. A number of states in India have banned the product while others are awaiting results of laboratory tests.

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Sahara clinches $850 mn debt deal for foreign hotels: Report

The Sahara Group has been trying to raise funds through monetisation of its various assets, including these three overseas hotels to secure the release of chairman Subrata Roy, currently lodged in Tihar Jail in New Delhi for over a year

 

In a relief for the crisis-hit Sahara Group, the Indian company has sealed the sale of its Grosvenor House hotel here and two US properties -- Plaza and Dream Downtown -- in an $850 million debt refinance deal, a local media report said on Sunday.
 
The Sunday Times reported that, by the deal, which is worth the approximate equivalent of Rs.5,500 crore, the Reuben brothers "have taken control of the Grosvenor House in London and two other luxury hotels in New York through a $850 million debt deal".
 
"David and Simon Reuben, whose empire stretches from data centres to horse racing, clinched the purchase of two loans against the properties from Bank of China late last week," it added.
 
The Bank of China put Grosvenor House under "administration" early in March for recovery of its loans.
 
The Sahara Group has been trying to raise funds through monetisation of its various assets, including these three overseas hotels to secure the release of chairman Subrata Roy, currently lodged in Tihar Jail in New Delhi for over a year.
 
Sahara had said at that time that the Grosvenor House hotel was being "treated under default" because the Bank of China has declared "an event of default" on the US loans owing to some "technical breaches" in the financial covenants.
 
Sahara's refinancing arrangements involved getting a fresh loan for the three properties. A part of the proceeds would go to the Bank of China for the release of Grosvenor House from "administration", while the remainder could be deposited with markets regulator Sebi in Mumbai to secure release from jail of Roy and two other company officials.
 
Sahara acquired the three hotels between 2010-2012 at an estimated valuation of $1.55 billion.
 
IANS attempted to contact the Sahara spokesperson for a corroboration of the report in the matter, without success.

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COMMENTS

integrity

2 years ago

An article on this Sahara case in long pending from Ms Sucheta Dalal

History made as India, Bangladesh ratify land swap
India and Bangladesh on Saturday ratified the Land Boundary Agreement here as India's Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina presided over the ceremony of exchange of instruments of ratification of the land swap.
 
"History is made as the Instruments of Ratification of the Land Boundary Agreement are exchanged," Modi tweeted.

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