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However, Patanjali Foods, in a regulatory filing on the same day, said that the SC order did not relate to Patanjali Foods Limited (PFL), which is an independent listed entity and operates in the space of edible oil and food FMCG products only.
It further added that the observations do not have any bearing on the regular business operations or the financial performance of Patanjali Foods.
The apex court order came on the back of an ongoing legal dispute with the Indian Medical Association (IMA), which has accused Patanjali of allegedly disparaging other forms of conventional medicines.
The court said Patanjali violated its assurance to judges last year in the ongoing case that it would not publish advertisements that make “casual statements claiming medicinal efficacy”.
The judges also asked Patanjali to explain why it should not initiate contempt of court proceedings against the company.Ramdev had previously denied the criticism and accused some doctors of spreading propaganda against traditional medicines, which are hugely popular in India, according to news agency Reuters.The Indian Medical Association (IMA) told the court that Ramdev’s firm had continued to publish newspaper ads claiming to offer a “permanent solution” for conditions, such as blood pressure, asthma, and diabetes. Patanjali sells personal care products and Ayurvedic medicines.
Today’s correction marks the third successive loss. The stock has ended with cuts in six of the last seven trading sessions.
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