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 Corporate - Courts/Legal Issues
Bombay HC upholds Wadia group appeal

Our Bureau

Bangalore, Dec. 5

The Bombay High Court has upheld Wadia group's appeal for staying the transfer of Avesthagen shares to Group Danone. According to a Wadia group spokesperson, Danone's move to pick up a 5 per cent minority stake in Avesthagen was in breach of the joint venture agreement between Wadia group and Group Danone. Group Danone is Wadia group's joint venture partner in Britannia. Avesthagen is a nutraceutical company based in Bangalore.

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