SOM GROUP
Child labourers at Som Group's liquor unit worked 11 hours a day
A state inspection of a Som Group distillery in Madhya Pradesh found children, aged 13-17, working long hours filling and packing liquor bottles. Following the National Commission for Protection of Child Rights' discovery of 58 underage laborers, the state suspended the distillery's license. Som denies the allegations and has legally challenged the suspension.
MP distillery, where children were found working, sealed; manufacturing licence suspended
A distillery linked to Som Group in Raisen, MP, was sealed for alleged child labor violations. The plant, part of Som Distilleries & Breweries, an ISO-certified group, had its license suspended after 58 children were found working there illegally.
India to impound liquor firm Som's distillery over child labour
Police launched an investigation into Som after the National Commission for Protection of Child Rights (NCPCR) last week found 39 boys and 20 girls working at the factory. The agency also released photos of children's hands it said showed burns due to contact with chemicals. "We have sent the police force to ensure there are no issues during the sealing process," Vikas Kumar Shahwal, a senior Madhya Pradesh police official, told Reuters.
Som Distilleries & Breweries' child labour incident casts a cloud over India Inc's supply chains
Listed company SDBL in Bhopal rescued 58 children from child labour. Bachpan Bachao Andolan aided in rescue operation. While listed companies themselves rarely engage in child labour practices, they can become inadvertently connected to such practices through their supply chains. These issues predominantly involve smaller, unorganized entities in sectors like textiles, carpets, mining, firecrackers, and agriculture, where supply chains are intricate and challenging to oversee.
Stocks in news: Zomato, Paytm, HAL, Som Distilleries, Adani Enterprises, TCS
Sensex and Nifty hit new highs. NCLAT directs NCLT to re-hear APL Apollo Tubes insolvency plea. Reliance Jio's tech collaboration with TM Forum sees 80% resource increase. Police investigate child labor at Som Distilleries. Mahindra Lifespace targets sharp increase in sales. Lupin enters CDMO business. Alembic Pharma receives FDA approval.
Police investigate Som Distilleries over allegations of employing children; company issues clarification
Police are investigating Som Distilleries and Breweries Ltd after allegations surfaced that over 50 children, including 20 girls, were found working at a distillery in Madhya Pradesh. The National Commission for Protection Of Child Rights initiated the probe, prompting serious concern from authorities. Som Distilleries clarified the issue pertains to an associate company dealing with country liquor and terminated the contractor responsible for labor supply.
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58 child labourers rescued from distillery in MP's Raisen
A total of 39 boys and 19 girls were rescued from a distillery in Madhya Pradesh's Raisen district. The operation was led by the National Commission for Protection of Child Rights (NCPCR) and the Bachpan Bachao Andolan (BBA). The children, who were rescued from Som Distillery, were found with burn wounds on their hands from exposure to harsh chemicals and alcohol. They were made to work long hours daily, transported in a school bus by their employer. Chief Minister Mohan Yadav has ordered strict action against those responsible.
Time for them to say cheers and get re-rated? 4 not so well known smallcap breweries and liquor stocks
In the last three years, many sectors and companies which have been in the dumps for years have made a comeback. There are two kinds of comebacks, one is comeback on the dalal street. Second is a comeback in the real business. It is the second one which is more important as that is what finally matters to even the street. If one looks at the history of the liquor industry it has been dominated by two large names, but over the last few years, many smaller companies have made a comeback in a real business sense. Some due to their one brand getting super successful, others have been able to restructure their operation, reduce debt by selling some of the non core assets. Some by becoming bottlers and outsourcing their capacity to large players. In a nutshell, after two decades of ups and downs, these smaller players have reached the point where there is a possibility that they might see a re-rating, if they stay in course of clean and transparent corporate governance.
I-T dept conducts multi-state searches against Som Group
The Income-tax department initiated a series of multi-state searches targeting the Som Group, a well-known player in the liquor manufacturing and sales sector. This operation is part of a broader investigation into alleged tax evasion, according to official sources.
Discussions at second ADM to steer towards consensus for global agri growth: Union minister
The second Agriculture Deputies Meeting (ADM) of the G20 Agriculture Working Group is discussing sustainable agriculture, food security and nutrition with a climate smart approach. The meeting of 19 member countries, 10 invited countries and 10 international organizations will focus on drafting a communique, covering four thematic areas – food security and nutrition, sustainable agriculture, inclusive agricultural value chains and digitalization for agricultural transformation.
Investors gain from right(s) opportunities
Based on Thursday's closing price of Rs 897 on the BSE, the shareholders have earned a staggering 115% short-term return from their fresh investments through the rights issue. The offer remained open between December 19, 2022, and January 9, 2023.
Ahead of Market: 10 things that will decide D-Street action on Thursday
Domestically, Nifty opened flat and traded between gains and losses to finally closed flat – up just 6 points at 18,410 levels. Profit booking was seen in Adani group stocks after it rallied ~20-30% in the last few sessions.”
No proposal under consideration to setup ecomm regulator: Govt to Parliament
The government informed the Lok Sabha that representations have been received for permission to import Genetically Modified corn, broken corn and maize, which have been submitted to Ministry of Environment, Forest and Climate Change, Department of Animal Husbandry & Dairying, Department of Consumer Affairs and Food Safety and Standards Authority of India for their comments and will be processed as per existing policy.
Kolkata school to launch its own nano-satellite
Kolkata school will launch its own nano-satellite to train its students in space science.
India's FDI to GDP ratio eased to 2.7% in fiscal 2022
The FDI to GDP ratio, which is a metric that compares a country's fund inflows as compared to its gross domestic product, was at 2.3% in fiscal 2018, Minister of Commerce and Industry Som Parkash informed the Lok Sabha, citing government data.
FDI inflow to India declines to $74.01 billion in 2021
To promote FDI, the Government has put in place an investor-friendly policy, wherein most sectors except certain strategically important sectors are open for 100 per cent FDI under the automatic route. Further, the policy on FDI is reviewed on an ongoing basis, to ensure that India remains attractive and investor-friendly destination, the minister said.
CCI so far not found any contravention by e-tailers on predatory pricing: Minister of State for Commerce and Industry Som Parkash
The CCI has received certain complaints alleging predatory pricing against e-commerce companies, Minister of State for Commerce and Industry Som Parkash said in a written reply to a query in the Rajya Sabha.
India received $339.55 billion FDI in last 5 years
In 2018-19, it stood at USD 62 billion. In 2017-18, it was USD 60.97 billion and in 2016-17, the FDI inflow to India stood at USD 60.22 billion. To promote FDI, the Government has put in place an investor-friendly policy, wherein most sectors are open for 100 per cent FDI under the automatic route, Parkash said in a written reply to a question in the Lok Sabha.
Caste factors cloud Hindutva mascot's appeal in western UP?
Som, a two-term MLA from the Sardhana assembly seat in Meerut district, had hit the headlines for his alleged links to the 2013 Muzaffarnagar riots. Muslims, nearly 20 per cent, and Dalits, about 16 per cent, are considered the largest voting groups in the Sardhana constituency.
Toy imports fell in last 3 years: Govt to Parliament
Inbound shipments of festive, carnival or other entertainment articles, including conjuring tricks and novelty joke contracted 37.61% in 2020-21 at $10.17 million against the previous fiscal, Minister of State for commerce and industry Som Parkash said in a written reply in the Lok Sabha.
CCI raids Associated Alcohols, Som Distilleries in price fixing probe
The Competition Commission of India (CCI) officials were conducting search and seizure operations across several cities and the case is about the companies allegedly violating anti-trust laws by colluding on prices while seeking necessary regulatory approvals in states, the sources added.
Sebi exempts family trust linked to Capri Global Capital's promoters from open offer obligations
The proposed acquisition involves direct and indirect acquisition of shares of Capri Global Capital (target company) by the Trust from promoter and members of promoter group of the company, Sebi said in an order.
What can be bigger offer than suspending farm laws for 18 months: Som Parkash
A group of farmers in Hoshiarpur on Saturday had shouted slogans against the BJP outside a venue where party leaders, including Parkash, had come for a public meeting.
Union ministers meet farmer groups to break deadlock over agri laws
On January 4, the seventh round of talks ended inconclusively as the unions stuck to their demand for a complete repeal of three farm laws, while the government wanted to discuss only the "problematic" clauses or other alternatives to end the stalemate.
Centre and protesting farmers break bread
Speaking to the media after the meeting, Union agriculture minister Narendra Singh Tomar said: “We have got 50% success. We are hopeful that the remaining issues will be resolved in our next meeting. We expect the next meeting to be productive as well.”
Farmer leaders were happy after December 3 meeting but did a u-turn on December 5: MoS Som Parkash
Prime Minister Narendra Modi has said MSP will continue as earlier. We are ready to give a written assurance. There is no Act earlier too on MSP.
Farmers' groups say no to govt food, arrange own lunch at Delhi's Vigyan Bhawan
"How can we have lunch offered by the government when our fellow farmers are sitting on roads," said Shinde, whose organisation is among the 40 farmers' groups engaged in the talks.
Kolkata Police books Babul Supriyo for promoting enmity after he shared 'fake photo' on Twitter
The singer-turned-politician was booked under non-bailable sections of the IPC.
Time to say cheers! Liquor sales set for a bounceback
Raw material prices are down and discretionary spend is up.
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