Business

Nestle India Hit with Rs 69 Lakh Tax Penalty

Published

1 year ago

March 27, 2025

On Wednesday, Nestle India Limited reported a tax penalty of Rs 69.45 lakh after the Appellate Authority affirmed a prior ruling under the Customs Act, 1962. The penalty stems from a customs duty dispute, stemming from the company’s appeal against a decision made by the Deputy Commissioner of Customs.

Unfortunately for Nestle, the appeal was denied, validating the demand for customs duty, accumulated interest, and an equivalent penalty.

In a stock exchange filing, Nestle India revealed it received the penalty order under Section 28 (4) in conjunction with Section 28AA of the Customs Act. Despite the company’s efforts to challenge the ruling, it was ultimately in favor of the Revenue Department. Nestle stated, “There is no material impact on financials, operations, or other activities of the company due to the aforementioned order. We will explore various options to contest the order.”
The company’s shares closed at Rs 2,240.10 each on the Bombay Stock Exchange (BSE) on Wednesday.
In an unrelated matter, the Securities and Exchange Board of India (SEBI) recently issued a warning to Nestle India concerning a potential breach of insider trading regulations by a senior executive. The market regulator communicated this warning to Nestle India’s Compliance Officer via its Deputy General Manager.
Nestle confirmed in a stock exchange filing that it received SEBI’s notice on March 6, 2025. The alleged violation involved a “contra trade” executed by a designated individual within the company. This practice occurs when an insider buys or sells shares within six months of a prior transaction in the same security, intending to realize short-term profits. SEBI regulations prohibit such activities to safeguard against the misuse of confidential price-sensitive information.
Despite the warning, Nestle India maintained that this issue did not have any significant effect on its financial or operational activities.
In response to the rising costs of coffee, cocoa, and edible oil, Nestle India is also contemplating a modest price increase for its products.

Business

Honda Begins Delivery of 2026 City Hybrid

Published

4 days ago

June 3, 2026

Namma Kudla

Business: Honda Cars India has started delivering the new 2026 Honda City Hybrid to customers. The first car was handed over at a dealership in Bengaluru.

Honda President and CEO Takashi Nakajima attended the special delivery event. Other senior company officials were also present.

The first customer received a Crystal Black Pearl Honda City Hybrid. The car was delivered with a symbolic key and a gift hamper.

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The updated City comes with new features such as ventilated front seats and a 360-degree camera. It also offers wireless Apple CarPlay, Android Auto, and a sunroof.

The sedan is available with petrol and strong-hybrid powertrain options. Honda claims the hybrid version delivers a mileage of 27.26 kmpl.

The Honda City competes with the Volkswagen Virtus, Skoda Slavia, and Hyundai Verna in India.

Business

Overseas Loans by Indian Firms See Sharp Decline

Published

3 weeks ago

May 17, 2026

Namma Kudla

Business : Indian companies borrowed $5.43 billion from abroad in March, according to RBI data. This was 51% lower than March last year.

Experts said the weak rupee and high global interest rates made foreign loans less attractive for companies.

In the financial year 2025-26, India Inc raised nearly $43 billion through foreign borrowings. This was down from $61 billion in the previous year.

In March 2025, borrowings had crossed $11 billion due to large deals by companies like JSW Steel and Tata Semiconductor Manufacturing.

Companies are also avoiding overseas loans because hedging costs have become expensive during currency volatility.

The RBI reportedly discussed easing foreign borrowing rules and offering hedging support, but no final decision was taken.

Market experts said the ongoing West Asia conflict has increased uncertainty, making companies cautious about raising funds from abroad.

Business

Fuel Prices Hiked by Rs.3 per Litre across India

Published

3 weeks ago

May 15, 2026

Namma Kudla

New Delhi: Petrol and diesel prices have been increased by Rs.3 per litre across the country from today. Oil marketing companies revised the rates due to the rise in global crude oil prices.

After the hike, petrol price in Bengaluru has reached Rs.106.17 per litre, while diesel now costs Rs.94.10 per litre.

The increase comes amid fluctuations in international crude oil prices and tensions in West Asia, including the Iran conflict. The fall in the value of the Indian rupee against the US dollar has also increased import costs.

The fuel price hike is expected to affect transportation and daily essentials. Transport charges for goods may rise, leading to higher prices of vegetables, fruits, milk, and other items. Bus, auto, and taxi fares may also increase.

Earlier, fuel prices were reduced before the 2024 Lok Sabha elections. In 2022, the Centre had also cut excise duty to control inflation after the Covid pandemic.