Patanjali Foods issues clarification on SC missive to Baba Ramdev for ‘misleading ads’

Patanjali Foods issued a clarification on Tuesday hours after the Supreme Court asked yoga guru Baba Ramdev to personally appear in a contempt case initiated against Patanjali Ayurved for ‘misleading advertisements’.

“We may clarify that this matter is related to the advertisements of ayurvedic products/medicines of Patanjali Ayurved Limited which have no bearing on Patanjali Foods Limited. The Patanjali Foods Limited (PFL) is an independent listed entity and operates in the space of edible oil, food FMCG products, Oilpalm plantation and wind mill only. The directions and observations of Hon’ble Supreme Court of India do not have any bearing on the regular business operations or the financial performance of Patanjali Foods Limited,” the firm said in an exchange filing.

Shares of Patanjali Foods cracked over 5% following the Supreme Court notice.

“We may further inform you that the Company is complying with the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and disclosing the events/information to the Stock Exchanges which are required to be disclosed under regulation 30 of the said Regulations”.

The Supreme Court directed Ramdev and Managing Director of Patanjali Ayurved Acharya Balkrishna to appear before it after taking exception to the company’s failure to respond to notice issued in the contempt proceedings relating to advertisements of the firm’s products and their medicinal efficacy.

The Bench had issued show cause notice to Patanjali and Balakrishna on February 27 for violating an assurance given to the Supreme Court on November 21, 2023 that they would refrain from advertising or branding its products as “permanent relief” for diseases such as obesity, blood pressure, asthma, etc, in violation of the 1954 Act.