Global direct selling major Amway has been asked to remove two of its products from sales by the apex consumer commission, which also slapped a fine of 1 lakh rupees on it for allegedly wrongly branding its products. The National Consumer Disputes Redressal Commission (NCDRC) asked Amway India Enterprises Pvt Ltd to remove Amway Madrid Safed Musli (Apple) and Kohinoor Ginger Garlic Paste from the market within six weeks.
Life Insurance Corporation (LIC) of India has acquired 2.021% stake in FMCG( fast moving consumer goods ) firm Colgate Palmolive India through open market purchase, taking the total holding in the company to 7.037%. The Insurance behemoth earlier had 5.016% stake in Colgate Palmolive India,the FMCG company said in a regulatory filing. LIC has acquired additional 54,97,334 shares in the company and now has 1,91,40,291 shares. It earlier had 1,36,42,957 shares in Colgate Palmolive India.