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Last 5,996 INR
Change Today -39.85 / -0.66%
Volume 21.9K
As of 7:06 AM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

nestle india ltd (NEST) Snapshot

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03/10/15 - 7,505
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06/8/15 - 5,499
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nestle india ltd (NEST) Details

Nestlé India Limited manufactures and sells food products in India and internationally. The company provides various prepared dishes and cooking aids; chocolates and confectionery products; milk and nutrition products; and coffee and beverages. It also offers vending and food services, such as beverage systems, beverage solution products, food service products, and touch points. The company was incorporated in 1959 and is headquartered in Gurgaon, India. Nestlé India Limited is a subsidiary of Nestlé S.A.

7,228 Employees
Last Reported Date: 02/13/15
Founded in 1959

nestle india ltd (NEST) Top Compensated Officers

Chief Financial Officer, Director of Finance ...
Total Annual Compensation: 12.5M
Director of Technical, Executive Director and...
Total Annual Compensation: 22.6M
Compensation as of Fiscal Year 2014.

nestle india ltd (NEST) Key Developments

National Consumer Dispute Redressal Commission Issues Notice to Nestle India Ltd Against Class Action Suit

National Consumer Dispute Redressal Commission (NCDRC) issued notice to Nestle India Ltd. on a class action suit filed by the department of consumer affairs (DCA) seeking INR 6.4 billion in damages. The suit filed in public interest on 11 August alleges unfair trade practices, false labelling and misleading advertisements of Maggi instant noodles by the Indian unit of the Swiss packaged foods company Nestle SA. The damages sought from Nestle India are for manufacture and sale of variants of Maggi noodles that contained exceess levels of lead and monosodium glutamate that allegedly harmed consumers. At the hearing, a division bench of NCDRC comprising justices V.K Jain and B.C Gupta, while deciding upon the maintainability of the suit, repeatedly questioned DCA about the "specific standard" that had been prescribed under the Food Safety and Standards Act, 2006 or any other rules on the permissible lead content. This argument was set aside by the bench as it would amount to extending arbitrary power to the Food Safety and Standards Authority of India. It also raised doubts about the procedure that had been followed for sending the samples for testing (whole packets or part of the noodles) to the various labs; the 13 August Bombay high court judgment that called for another test was silent on this issue. The Bombay high court set aside the food regulator's nationwide ban order on the sale of Maggi noodles and said it had not been able to "substantiate" its "tall claim" of the food product being unsafe, and told the manufacturer it will be allowed to resume production and sales once the popular snack is retested and cleared for consumption by government-approved laboratories. The court also slammed the regulator for "lack of transparency" and passing orders in an "arbitrary manner". The bench also directed the complainant to submit sealed samples of Maggi Masala and Maggi Oats Noodles that it had brought to the court, to be sent for re-testing to an accredited lab. The DCA told the NCDRC that the pivot of the complaint was not the test reports but the interest of the consumers who had been misled by unfair trade practices and assertions made by Nestle on the presence of MSG and lead levels in their products. The department also claimed that Nestle India had begun sale of their Maggi Masala Oats Noodles without obtaining the requisite product approval from the food authority. The court has sought a reply to the notices in a month and has marked 30 September as the next date of hearing.

NCDRC Accepts Govt's INR 6,400 Million Suit Against Nestle India

Days after the Bombay High court quashed the ban order on Nestle India's Maggi instant noodles and directed fresh tests on the brand of the company's fast-food products, the apex consumer court served notice on Nestle India over the government's INR 6,400 million class action suit related to Maggi noodles. A bench of the National Consumer Disputes Redressal Commission (NCDRC) comprising Justice VK Jain and Justice BC Gupta accepted the government's suit against the Nestle India and directed Nestle India to respond to the notice by 30 September, when the court will hear arguments for and against Maggi noodles. During the preliminary hearing, the bench expressed doubt over the government's cause of action, saying the Bombay High Court's judgment in the matter had dealt with the issue of lead content. Since the high court had rejected the government's current reports on lead content, which it rejected for not being from an accredited laboratory, the consumer court said there was no conclusive report to prove the government's contention and directed fresh tests on Nestle's Maggi noodles by ''accredited labs'' as directed by the high court.

Nestle India Provides Update on its Ban Order

Nestlé India announced that it respects the decision made on August 13, 2015 by the Honourable Bombay High Court to revoke the ban order passed by Food Safety and Standards Authority of India (FSSAI) and the Food and Drug Administration, Maharashtra on MAGGI Noodles and will comply with the order to undertake fresh tests. Nestlé India announced that it remains committed to working with the FSSAI, FDA Maharashtra and other stakeholders.


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