Maggi Worth Rs.320 cr to be Destroyed: Nestle
Due to the ban of Maggi noodles in the country, Nestle India announced that they will start the procedure of destroying the product here. It was announced that Maggi instant noodles worth Rs.320 cr will be destroyed in the process. The estimated sales value of the stock in the market, including those with their trade partners is around Rs.210 crore and that in their factories and distribution centres is worth Rs.110 crore, informed Nestle to Bombay stock exchange. It is known that Maggi has been banned on 5th of this month in India as it contains more than permissible levels of lead, monosodium glutamate. While Nestle approached Mumbai High Court to stay the ban imposed on Maggi, the HC refused to do so. Thus Nestle is planning to set the stock of Maggi on fire in 5 cement factories.