Nestle share gained after NCDRA dismissed old suit against Maggie sale

Nestle India’s stock saw a near 1% increase at market open on April 5, following the National Consumer Dispute Redressal Commission’s (NCDRC) rejection of a government lawsuit against the firm.The NCDRC ruled in favor of Nestle India Ltd, quashing the 2015 government complaint regarding the sale of Maggi noodles, as per the company’s announcement to the exchange.Nestle explained, ""The 2015 complaint by the Union of India, Department of Consumer Affairs, to the NCDRC in New Delhi, accused the company of engaging in unfair trade practices by producing and selling Maggi Noodles, which were alleged to be hazardous and defective, demanding compensation of Rs 284.55 crore along with punitive damages of Rs 355.41 crore. This complaint was dismissed by the NCDRC in favor of Nestle.