Nestle India share price falls 3%: FSSAI takes legal action over 3 baby products
New Delhi, Sept. 18 -- Shares of Nestle India came under pressure on Friday, September 18, falling around 3% after reports said the Food Safety and Standards Authority of India (FSSAI) had initiated legal action against the company over multiple non-compliances under the Food Safety and Standards Act.
The regulator has filed three adjudication cases against Nestle India in connection with three products.
The products involved are Infant Nutrition, NAN Excella and Lactogen. The regulatory action follows findings from laboratory testing of a follow-up formula manufactured by Nestle India, with one sample found to be below the prescribed Biotin requirement. A repeat analysis also found that the sample did not conform to the required Biotin...
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