How many packs of Maggi can you buy for Rs 640 Crore? Govt claims damages from Nestle after MaggiBan

Some one in the Government must have got an upset stomach after eating Maggi sometime, definitely. The government has sought damages worth Rs640 Crore from Nestle India. This definitely has come as a surprise since there have been absolutely no casualties reported ever due to Maggi eating.

The share of Nestle India fell 4.70% after the news came in. The company has already incurred huge losses since stocks have been destroyed following the ban earlier this year. The share hit a low of 6008.20 after the news and is likely to see further falls. Apart from the loss in credibility and branding, Nestle has lost more than 300Cr only on Maggi stocks which were either destroyed or are stuck at the factories and distribution centers. This latest hit is a Class action suite filled by the Govt on behalf of Consumers. As reported in the Economics times a consumer affairs ministry official said. “Government can file a case on behalf of consumers. So we have filed a class action suit today (Tuesday) in the NCDRC.”

For Maggi it turns out to be ‘taste bhi kharab, health bhi kharab’. Thank god the PornBan is lifted. Something remains to give fun in 2 minutes!

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