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Corporate world saw both ups and downs

27,December, 2015
 

FSSAI banning Maggi noodles was the highlight of 2015 From bans to recalls to mergers and acquisitions, it was a year filled with events, negative as well as positive for corporates. It all started with the famous two minute snack — Maggi noodles.

The Food Safety and Standards Authority of India (FSSAI), on June 5, 2015, ordered Nestle India to withdraw and recall the nine approved variants of its Maggi instant noodles from the market for having been found unsafe and hazardous for human consumption.
Nestle was instructed to stop further production, processing, import, distribution and sale of the product with immediate effect. FSSAI had also asked Nestle to withdraw and recall its Maggi Oats Masala Noodles with Tastemaker, for which risk/safety assessment has not been undertaken and product approval has not been granted.
Legal battle
While Nestle India sought legal recourse, retailers including Kishore Biyani-owned Big Bazaar and Reliance Retail decided to take the product off their shelfs in the interest of the consumers.
HUL also decided to withdraw Knorr, its Chinese range of instant noodles, from the market following the problems surrounding Maggi.
However, after fresh testing of the newly manufactured samples, the product was brought back on the shelf early last month, nearly five months after the product was banned by the FSSAI.

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