86-507: Patanjali Ayurved is an Indian multinational conglomerate holding company , based in Haridwar . It was founded by Ramdev and Balkrishna in 2006. Its office is in Delhi , with manufacturing units and headquarters in the industrial area of Haridwar. The company manufactures cosmetics , ayurvedic medicine , personal care and food products . The CEO of the company, with a 94-percent share hold,
172-429: A market inefficiency , which undervalues the true strength of these stocks. In her 1999 book No Logo , Naomi Klein provides several examples of mergers and acquisitions between media companies designed to create conglomerates to create synergy between them: A relatively new development, Internet conglomerates, such as Alphabet , Google's parent company belong to the modern media conglomerate group and play
258-534: A citizen of India and must be 25 years of age or older, mentally sound, should not be bankrupt, and should not be criminally convicted. The total elective membership is distributed among the states in such a way that the ratio between the number of seats allotted to each state and the population of the state is, so far as practicable, the same for all states. Out of 543 seats of Lok Sabha , 84 seats are reserved for Scheduled castes and 47 seats are reserved for Scheduled tribe . The Rajya Sabha (Council of States) or
344-566: A cure), but the Government of Maharashtra has banned the sale of Coronil in the state. First information reports were filed in Bihar and Rajasthan against Ramdev, Balkrishna and others, accusing them of dishonesty and selling fake medicines. Patanjali responded to the accusations, saying that they did not violate any procedures before the drug was launched. A Madras High Court judge fined the company ₹ 1,000,000 (US$ 12,000) for making false claims about
430-480: A disorienting and demoralizing experience for executives at acquired companies—those who were not immediately laid off found themselves at the mercy of the conglomerate's executives in some other distant city. Most conglomerates' headquarters were located on the West Coast or East Coast , while many of their acquisitions were located in the country's interior. Many interior cities were devastated by repeatedly losing
516-540: A focus in Asia.) In Japan, a different model of conglomerate, the keiretsu , evolved. Whereas the Western model of conglomerate consists of a single corporation with multiple subsidiaries controlled by that corporation, the companies in a keiretsu are linked by interlocking shareholdings and a central role of a bank. Mitsui , Mitsubishi , Sumitomo are some of Japan's best-known keiretsu, reaching from automobile manufacturing to
602-638: A global presence and a diversified portfolio of products and services. Conglomerates can be formed by merger and acquisitions , spin-offs , or joint ventures . Conglomerates are common in many countries and sectors, such as media , banking , energy , mining , manufacturing , retail , defense , and transportation . This type of organization aims to achieve economies of scale , market power, risk diversification , and financial synergy. However, they also face challenges such as complexity, bureaucracy , agency problems, and regulation . The popularity of conglomerates has varied over time and across regions. In
688-652: A major role within various industries, such as brand management . In most cases, Internet conglomerates consist of corporations that own several medium-sized online or hybrid online-offline projects. In many cases, newly joined corporations get higher returns on investment , access to business contacts, and better rates on loans from various banks. Similar to other industries many companies can be termed as conglomerates. Indian Parliament 28°37′2″N 77°12′29″E / 28.61722°N 77.20806°E / 28.61722; 77.20806 The Parliament of India or Indian Parliament , ( ISO : Bhāratīya Saṁsad )
774-500: A non-governmental organisation in West Bengal, and calls himself a teacher on his Instagram profile. The Delhi police told the court that it was a well-planned conspiracy, and that the accused might also be associated with terrorist organisations. While the police have not officially revealed a motive, both media reports and statements from the families of the accused suggest that the protesters sought to articulate their frustration with
860-464: A peacock theme, while the Rajya Sabha hall is designed with a lotus theme, reflecting India's national flower. Additionally, a state-of-the-art Constitutional Hall symbolically and physically places Indian citizens at the heart of democracy. Prime Minister Narendra Modi laid the foundations for the new Parliament building on 10 December 2020. With an estimated cost of ₹ 9.71 billion, the new building
946-661: A sanctioned strength of 552 in the Lok Sabha and 250 in the Rajya Sabha including 12 nominees from the expertise of different fields of literature, art, science, and social service. The Parliament meets at Sansad Bhavan in New Delhi . The Parliament of India represents the largest democratic electorate in the world (the second being the European Parliament ), with an electorate of 912 million eligible voters in 2019. On 28 May 2023, Prime Minister Narendra Modi, unveiled and inaugurated
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#17328872415931032-625: A small slice of many companies in a fund rather than owning shares in a conglomerate. Another example of a successful conglomerate is Warren Buffett 's Berkshire Hathaway , a holding company which used surplus capital from its insurance subsidiaries to invest in businesses across a variety of industries. The end of the First World War caused a brief economic crisis in Weimar Germany , permitting entrepreneurs to buy businesses at rock-bottom prices. The most successful, Hugo Stinnes , established
1118-528: A thorough investigation. He also highlighted the timing, coinciding with the 22nd anniversary of the 2001 Indian Parliament attack . Day after the security breach, Trinamool MP Derek O'Brien of the Rajya Sabha and 13 MPs of Lok Sabha from the Congress and the Dravida Munnetra Kazhagam parties, were suspended until 22 December for protesting by bringing placards and hindering the proceedings of
1204-626: A violation of both the Drugs and Other Magical Remedies Act, 1954 (DOMA) and the Consumer Protection Act, 2019 (CPA). Subsequently, in November 2023, the Supreme Court cautioned Patanjali against misleading advertisements and threatened a fine of Rs 1 crore per product for any deceptive claims. Despite assurances following the warning, Patanjali continued publishing misleading ads. In February 2024,
1290-584: A week. They are also discouraged from asking for a raise, with the rationale that working at the factory is considered "seva" (voluntary service) to the cause and is a payment in itself. On 22 May 2021, the Indian Medical Association (IMA) in Uttarakhand sent a defamation notice of ₹ 1,000 crore (equivalent to ₹ 11 billion or US$ 130 million in 2023) after remarks by Ramdev about doctors who practise evidence-based medicine . One of
1376-462: Is Balkrishna. Ramdev represents the company and makes strategic decisions. The company has faced various controversies over its misleading promotions and false claims for COVID-19 treatment. Ramdev and Balkrishna established Patanjali Ayurved in 2006. Balkrishna owns 94 percent of the company, and the remainder is dispersed among other individuals. In May 2021, Balkrishna had a net worth of US$ 2.3 billion. According to CLSA and HSBC , Patanjali
1462-402: Is a type of multi-industry company that consists of several different and unrelated business entities that operate in various industries. A conglomerate usually has a parent company that owns and controls many subsidiaries , which are legally independent but financially and strategically dependent on the parent company. Conglomerates are often large and multinational corporations that have
1548-472: Is currently China's largest civilian-run conglomerate by revenue. In South Korea , the chaebol is a type of conglomerate owned and operated by a family. A chaebol is also inheritable, as most of the current presidents of chaebols succeeded their fathers or grandfathers. Some of the largest and most well-known Korean chaebols are Samsung , LG , Hyundai Kia and SK . In India, family-owned enterprises became some of Asia's largest conglomerates, such as
1634-473: Is directly or indirectly associated, and studies are conducted to help committees arrive at the conclusions. Parliamentary committees are of two kinds: standing committees and ad hoc committees. Standing committees are permanent committees constituted from time to time in pursuance of the provisions of an act of Parliament or rules of procedure and conduct of business in Parliament. The work of these committees
1720-615: Is of a continuing nature. Ad hoc committees are appointed for a specific purpose, and they cease to exist when they finish the task assigned to them and submit a report. Parliamentary privileges play a crucial role in safeguarding the functioning of the Indian Parliament and upholding its authority as the primary legislative body in the country. These privileges grant certain rights and immunize Members of Parliament, enabling them to perform their duties effectively, express their views freely, and ensure democratic accountability. To uphold
1806-498: Is planning to open outlets at railway stations and airports . The company joined Pittie Group and Kishore Biyani 's Future Group on 9 October 2015, making its products available in Future Group outlets. Patanjali Ayurveda products are also available at Reliance Retail , Hyper City and Star Bazaar. The company had a target revenue of ₹ 10,000 crore (US$ 1.2 billion) revenue in 2016–17, after sales increased by 150 percent in
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#17328872415931892-604: Is the company's main production facility. With a production capacity of ₹ 35,000 crore (equivalent to ₹ 470 billion or US$ 5.6 billion in 2023), it is expanding to a capacity of ₹ 60,000 crore (equivalent to ₹ 860 billion or US$ 10 billion in 2023) through new production units in Noida , Nagpur , and Indore . In 2016, the Patanjali Food and Herbal Park received 35 full-time, armed Central Industrial Security Force (CISF) commandos. The park will be
1978-463: Is the four-storied circular structure providing office spaces for ministers, chairmen, parliamentary committees, party offices, important offices of the Lok Sabha and Rajya Sabha Secretariat, and also the offices of the Ministry of Parliamentary Affairs. The Central Hall is circular in shape and the dome is 30 metres (98 ft) in diameter. It is a place of historical importance. The Indian Constitution
2064-614: Is the supreme legislative body of the Republic of India . It is a bicameral legislature composed of the Rajya Sabha (Council of States) and the Lok Sabha (House of the People). The president of India , in their role as head of the legislature, has full powers to summon and prorogue either house of Parliament or to dissolve the Lok Sabha, but they can exercise these powers only upon the advice of
2150-552: Is thought to suffer from structural issues. The building also needs to be protected because of its heritage tag. The new building, with a built-up area of approximately 65,000 sq m and a distinctive triangular shape, optimally utilizes space. It houses an expanded Lok Sabha Hall, accommodating up to 888 seats, and a larger Rajya Sabha hall, accommodating up to 384 seats, with the Lok Sabha capable of accommodating up to 1,272 seats for joint sessions of Parliament. The Lok Sabha Hall draws inspiration from India's national bird, incorporating
2236-455: The 2001-02 India–Pakistan standoff . On 13 December 2023, two protestors breached the new premises of parliament and entered the Lok Sabha section. The security breach was organized by six protestors. Two of the accused, Sagar Sharma and D Manoranjan, jumped into the chamber from the visitor's gallery, and opened a yellow smoke canister, in an attempt to reach the Speaker's Chair. While outside
2322-555: The Aditya Birla Group , Tata Group , Emami , Kirloskar Group , Larsen & Toubro , Mahindra Group , Bajaj Group , ITC Limited , Essar Group , Reliance Industries , Adani Group and the Bharti Enterprises . In Brazil the most important conglomerates are J&F Investimentos , Odebrecht , Itaúsa , Camargo Corrêa , Votorantim Group , Andrade Gutierrez , and Queiroz Galvão. In New Zealand, Fletcher Challenge
2408-662: The Central Legislative Assembly , the Council of State , and the Chamber of Princes . The construction of the building took six years, and the opening ceremony was performed on 18 January 1927 by the viceroy and governor-general of India , Lord Irwin . The construction cost for the building was ₹ 8.3 million (US$ 99,000). The building is 21 metres (70 ft) tall, 170 metres (560 ft) in diameter and covers an area of 2.29 hectares (5.66 acres). The Central Hall consists of
2494-529: The Delhi High Court ordered the company to stop airing an advertisement for its brand of chyavanprash which disparaged a competitor's. Company products, such as amla juice and ayurvedic medicines have been banned for poor quality. Patanjali has been cited for its working conditions; Ramdev and Balkrishna are treated as gurus whose feet must be touched each time they enter an area. Workers are paid ₹ 6,000 (US$ 72) per month, working 12-hour shifts, six days
2580-723: The New Parliament Building , located adjacent to the previous one. During British rule , the legislative branch of India was the Imperial Legislative Council , which was created in 1861 via the Indian Councils Act of 1861 and disbanded in 1947, when India gained independence. Following independence, the Constituent Assembly of India was elected to write the Constitution of India . In 1950 after
2666-641: The United States , conglomerates became popular in the 1960s as a form of economic bubble driven by low interest rates and leveraged buyouts. However, many of them collapsed or were broken up in the 1980s due to poor performance, accounting scandals, and antitrust regulation. In contrast, conglomerates have remained prevalent in Asia, especially in China , Japan , South Korea , and India . In mainland China , many state-affiliated enterprises have gone through high value mergers and acquisitions , resulting in some of
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2752-547: The Upper House is a permanent body not subject to dissolution. One-third of the members retire every second year and are replaced by newly elected members. Each member is elected for a term of six years. Its members are indirectly elected by elected members of legislative assembly of the states. The Rajya Sabha can have a maximum of 250 members. It currently has a sanctioned strength of 245 members, of which 233 are elected from states, and union territories and 12 are nominated by
2838-572: The highest value business transactions of all time. These conglomerates have strong ties with the government and preferential policies and access to capital. During the 1960s, the United States was caught up in a "conglomerate fad " which turned out to be a form of an economic bubble . Due to a combination of low interest rates and a repeating bear-bull market , conglomerates were able to buy smaller companies in leveraged buyouts (sometimes at temporarily deflated values). Famous examples from
2924-546: The prime minister and the Union Council of Ministers . Those elected or nominated (by the president) to either house of the Parliament are referred to as members of Parliament (MPs). The members of parliament in the Lok Sabha are directly elected by the voting of Indian citizens in single-member districts and the members of parliament in the Rajya Sabha are elected by the members of all state legislative assemblies by proportional representation . The Parliament has
3010-469: The 104th Constitutional Amendment Act, 2019. Every citizen of India who is over 18 years of age, irrespective of gender, caste, religion, or race and is otherwise not disqualified, is eligible to vote for members of the Lok Sabha. The constitution provides that the maximum strength of the Lower House be 550 members. It has a term of five years. To be eligible for membership in the Lok Sabha, a person must be
3096-440: The 1960s include Gulf and Western Industries , Ling-Temco-Vought , ITT Corporation , Litton Industries , Textron , and Teledyne . The trick was to look for acquisition targets with solid earnings and much lower price–earnings ratios than the acquirer. The conglomerate would make a tender offer to the target's shareholders at a princely premium to the target's current stock price. Upon obtaining shareholder approval,
3182-618: The 1980s, General Electric also moved into financing and financial services , which in 2005 accounted for about 45% of the company's net earnings. GE formerly owned a minority interest in NBCUniversal , which owns the NBC television network and several other cable networks . United Technologies was also a successful conglomerate until it was dismantled in the late 2010s. With the spread of mutual funds (especially index funds since 1976), investors could more easily obtain diversification by owning
3268-456: The House meets to conduct its business is called a session. The constitution empowers the president to summon each house at such intervals that there should not be more than a six-month gap between the two sessions. Hence the Parliament must meet at least twice a year. In India, the Parliament conducts three sessions each year. Legislative proposals are brought before either house of the Parliament in
3354-536: The Ministry of AYUSH and certified by the World Health Organization . The reports indicated that Ramdev had released studies showing that Coronil was effective against COVID-19 at a press conference attended by Union Health Minister Harsh Vardhan and transport minister Nitin Gadkari . In a News Nation interview, Ramdev accused doctors of "allopathic terrorism" for doubting Coronil's effectiveness. The claim
3440-568: The People) or the lower house has 543 members . Members are directly elected by citizens of India on the basis of universal adult franchise representing parliamentary constituencies across the country. Between 1952 and 2020, two additional members of the Anglo-Indian community were also nominated by the president of India on the advice of the Indian government , which was abolished in January 2020 by
3526-410: The Supreme Court imposed a temporary ban on the company's advertisements and issued a contempt notice to Patanjali and its managing director Balkrishna. In response, the Supreme Court directed Patanjali to publish apologies in newspapers. Initially, Patanjali issued small apologies, which were deemed insufficient by the court. Consequently, Patanjali released larger apologies in newspapers as instructed by
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3612-598: The United States, some of the examples are The Walt Disney Company , Warner Bros. Discovery and The Trump Organization (see below). In Canada, one of the examples is Hudson's Bay Company . Another such conglomerate is J.D. Irving, Limited , which controls a large portion of the economic activities as well as media in the Province of New Brunswick . Some cite the decreased cost of conglomerate stock (a phenomenon known as conglomerate discount ) as evidential of these disadvantages, while other traders believe this tendency to be
3698-477: The advertisements of three Patanjali products — Lipidom, Livogrit and Livamrit. Patanjali Ayurved announced a drug named Coronil for COVID-19 treatment in June 2020, with Ramdev claiming that it cured the disease. There was no clinical data to prove that the new drug was effective or even safe; this prompted a social-media backlash which questioned the role of the Ministry of AYUSH. Within hours of Coronil's introduction,
3784-543: The allegations, saying that the company followed established protocols. The Ministry of Defence canteen stores department (CSD) suspended Patanjali Ayurved's amla juice after receiving an adverse state laboratory test report on the product; the central food laboratory found the juice unfit for consumption. The CSD asked its depots to make debit notes for their existing stock, so the product could be returned. Patanjali introduced its instant noodles on 15 November 2015. The Food Safety and Standards Authority of India notified
3870-721: The approval for Coronil had not come from the WHO or the Ministry of AYUSH (as they had claimed), but had been granted by the Drugs Controller General of India for export – not as a certification of effectiveness. In August 2022, Newslaundry published a report alleging that Patanjali took control of Dalits ' lands for cow shelter and herb farms in Teliwala village, Uttarkhand through force and circumvention of laws, making people there landless. With their land in control of Patanjali, Dalits have no choice other than working for
3956-535: The birth of a boy, reportedly leading to an increase in sales. The issue was raised in the Indian Parliament in July 2015 by opposition members who accused Ramdev of "peddling a product which promised delivery of male children." The Ministry of AYUSH (which oversees the sale of alternative medicines) defended the product's name, saying that it was named after a herb. In 2016, the Uttarakhand health department said that
4042-643: The chambers of the Lok Sabha, the Rajya Sabha, and the library hall. Surrounding these three chambers is the four-storied circular structure providing accommodations for members and houses parliamentary committees , offices and the Ministry of Parliamentary Affairs . The center and the focus of the building is the Central Hall. It consists of chambers of the Lok Sabha, the Rajya Sabha, and the Library Hall, and between them lie garden courts. Surrounding these three chambers
4128-486: The company or migrating elsewhere for finding employment. In May 2023, a Delhi-based law firm issued a legal notice to Patanjali Ayurved accusing the company of using 'cuttlefish bones' in dental care product, branding non-veg product as vegetarian in violation of the law. In August 2022, the Indian Medical Association filed a petition accusing Patanjali of disparaging allopathy to promote its drugs, alleging
4214-570: The company that neither Patanjali nor Aayush, the brand names for which Patanjali obtained licenses, received approval for the manufacture of instant noodles. In Rajasthan , mustard oil sold by Patanjali was found substandard by the FSSAI's Alwar laboratory. Ministry of AYUSH has advised certain states to take necessary action against Baba Ramdev's Patanjali Ayurved for illegally promoting products that claimed to cure diabetes , heart and liver diseases. The Ministry has specifically sought action against
4300-455: The conglomerate usually settled the transaction in something other than cash, like debentures , bonds , warrants or convertible debentures (issuing the latter two would effectively dilute its shareholders down the road, but many shareholders at the time were not thinking that far ahead). The conglomerate would then add the target's earnings to its earnings, thereby increasing the conglomerate's overall earnings per share . In finance jargon,
4386-564: The constitution came into force, the Constituent Assembly of India was disbanded, and succeeded by the Parliament of India, which is active to this day. The Old Parliament House ( Samvidhan Sadan ) is located in New Delhi . It was designed by Edwin Lutyens and Herbert Baker , who were made responsible for the planning and construction of New Delhi by the British government, as the home of
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#17328872415934472-422: The constitution, the president's responsibility is to ensure that laws passed by the Parliament are in accordance with the constitutional mandate and that the stipulated procedure is followed before indicating approval to the bills. The president of India is elected by the elected members of the Parliament of India and the state legislative Assembly and serves for a term of five years. The Lok Sabha (House of
4558-477: The court. Additionally, the Uttarakhand Licensing Authority revoked licenses for 14 Patanjali products after facing scrutiny from the Supreme Court over regulatory inaction. In August 2024, the Supreme Court closed contempt proceedings against Patanjali Ayurved co-founders Baba Ramdev and Acharya Balkrishna, and their company in the misleading advertisements case, accepting the apology tendered by
4644-507: The drug violated the Pre-Conception and Pre-Natal Diagnostic Techniques Act, 1994 . The Maharashtra government ordered a probe of whether the drug had violated laws in 2018, and Congress leaders in the state demanded a ban on the drug. In January 2018, villages in Haridwar district complained that Patanjali's Padarth factory was polluting a Ganges channel and other local rain-fed bodies of water with surface runoff ; chemicals released by
4730-454: The drug, and Patanjali withdrew its claim that Coronil could cure COVID-19. The UK drug regulator threatened action if unauthorized products were sold in the UK. The government of Maharashtra banned Coronil in the state in June 2020, with home minister Anil Deshmukh threatening the company with legal action if they did not observe the ban. The Madras High Court also barred Patanjali Ayurved from using
4816-882: The eighth private institute in India to be guarded by paramilitary CISF forces. Ramdev has had 100 cases filed against him by the Government of Uttarakhand for a number of offences. Of these, 81 cases against Patanjali Yogpeeth and its sister concerns in Haridwar were registered for violations of the Zamindari Abolition and Land Reforms (ZALR) Act and the Indian Stamps Act. The company has been accused of misleading advertising about its products and flimsy testing before being marketed. Between April 2015 and July 2016, 33 complaints were received against 21 misleading advertisements; seventeen violated ASCI standards. In September 2017,
4902-412: The end came in January 1968, when Litton shocked Wall Street by announcing a quarterly profit of only 21 cents per share, versus 63 cents for the previous year's quarter. This was "just a decline in earnings of about 19 percent", not an actual loss or a corporate scandal, and "yet the stock was crushed, plummeting from $ 90 to $ 53". It would take two more years before it was clear that the conglomerate fad
4988-751: The examples are Adamjee Group , Dawood Hercules , House of Habib , Lakson Group and Nishat Group . In the Philippines , the largest conglomerate of the country is the Ayala Corporation which focuses on malls , bank , real estate development , and telecommunications . The other big conglomerates in the Philippines included JG Summit Holdings , Lopez Holdings Corporation , ABS-CBN Corporation , GMA Network, Inc. , MediaQuest Holdings , TV5 Network, Inc. , SM Investments Corporation , Metro Pacific Investments Corporation , and San Miguel Corporation . In
5074-472: The factory reportedly killed several animals in the area. The local government took no action on the factory due to Ramdev's influence, and residents of 40 villages threatened agitation. The Uttarakhand Environment Conservation and Pollution Control Board ordered a clean-up of the waste flowing through the area. In the past, the board had notified Padarth about its release of untreated industrial effluent into local bodies of water. Patanjali's general manager denied
5160-453: The fear and panic among the general public by projecting a cure for the coronavirus when their 'Coronil Tablet' is not a cure". Nepal and Bhutan halted the distribution of donated Coronil after orders from their governments to disclose that it was not a medicine to cure COVID-19. In February 2021, The Indian Express , The Times of India , The Hindu and Livemint reported Patanjali Ayurved's claim that Coronil had been approved by
5246-430: The form of a bill. A bill is the draft of a legislative proposal, which, when passed by both houses of Parliament and assented to by the president, becomes an act of Parliament . Money bills must originate in the Lok Sabha. The Rajya Sabha can only make recommendations over the bills to the House, within a period of fourteen days. Parliamentary committees are formed to deliberate specific matters at length. The public
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#17328872415935332-417: The government's policies. Rashtriya Loktantrik Party founder Hanuman Beniwal along with some MPs caught and overpowered the intruder and became ‘hero’ or ‘saviour’ of the Parliament. Beniwal told the media soon after - " Herogiri unki utar di, [ trans . taught them a lesson]”. Beniwal soon after incident questioned BJP government on national security and called it a ‘big security lapse’ and demanded
5418-699: The headquarters of corporations to mergers, where ventures were reduced to subsidiaries of conglomerates based in New York or Los Angeles. Pittsburgh, for example, lost about a dozen. The terror instilled by the mere prospect of such harsh consequences for executives and their home cities meant that fending off takeovers, real or imagined, was a constant distraction for executives at all corporations seen as choice acquisition targets during this era. The chain reaction of rapid growth through acquisitions could not last forever. When interest rates rose to offset rising inflation, conglomerate profits began to fall. The beginning of
5504-561: The ministry issued a statement denying authorisation for the new drug and asking the company to stop selling (and advertising) it until the trial results were examined by medical authorities. An official from the ayurved department of the government of Uttarakhand said that the approval application for Coronil had not mentioned COVID-19. Laboratory tests showed that the drug did not contain any ingredients which could treat or prevent coronavirus infections. The Indian government allowed Patanjali Ayurved to market Coronil as an immunity booster (not
5590-503: The most powerful private economic conglomerate in 1920s Europe – Stinnes Enterprises – which embraced sectors as diverse as manufacturing, mining, shipbuilding, hotels, newspapers, and other enterprises. The best-known British conglomerate was Hanson plc . It followed a rather different timescale than the U.S. examples mentioned above, as it was founded in 1964 and ceased to be a conglomerate when it split itself into four separate listed companies between 1995 and 1997. In Hong Kong, some of
5676-403: The name "Coronil". The court's order came while it heard a suit filed by a Chennai-based firm which said that it had owned the trademark "Coronil" since 1993. Making an earlier interim injunction against Patanjali absolute, Madras High Court Justice C. V. Karthikeyan also imposed the fine on the company. In his ruling, the judge observed that Patanjali had been "chasing further profits by exploiting
5762-653: The new businesses they had recently purchased, and by the mid-1970s most conglomerates had been reduced to shells. The conglomerate fad was subsequently replaced by newer ideas like focusing on a company's core competency and unlocking shareholder value (which often translates into spin-offs ). In other cases, conglomerates are formed for genuine interests of diversification rather than manipulation of paper return on investment. Companies with this orientation would only make acquisitions or start new branches in other sectors when they believed this would increase profitability or stability by sharing risks. Flush with cash during
5848-482: The parliament by demanding answers regarding the security breach and the home minister's statement. A week after the breach, 78 more MPs were suspended, most of them part of the INDIA alliance, after protesting the security breach. [REDACTED] This article incorporates text from New Parliament Building for Realizing People's Aspirations , which is a copyrighted work of the Government of India , licensed under
5934-478: The parliament, two others, Neelam Devi and Amol Shinde, allegedly opened an aerosol canister, releasing a colored smoke. The sixth individual, Vishal Sharma, was caught meters away from the parliament after filming and uploading the video of the protest outside Parliament to the social media platforms. The alleged leader of the protestors was Lalit Jha, who is affiliated with the Samyabadi Subhas Sabha,
6020-519: The parties after they took steps to rectify their mistake. The top court, however, warned that both Ramdev and Balkrishna should comply with all future orders and not repeat their past conduct. Patanjali Ayurved produces cosmetics and personal-care, ayurvedic and food products. The company opened Patanjali Paridhan, a clothing store in Delhi, in November 2018. In May 2016, the company had nearly 4,700 retail outlets. Patanjali also sells its products online, and
6106-414: The president. The number of members from a state depends on its population. The minimum age for a person to become a member of the Rajya Sabha is 30 years. There are no caste-based reservations in Rajya Sabha. As the primary institution responsible for lawmaking, the Indian Parliament possesses a wide array of powers that form the backbone of the country's democratic governance. The period during which
6192-498: The previous financial year to ₹ 5,000 crore (US$ 600 million). Patanjali Ayurved's advertisement and sales promotion expenses in FY24 rose by 145.46% compared to FY23, increasing from Rs 173.13 crore to Rs 424.7 crore In December 2019, Patanjali reportedly acquired bankrupt Ruchi Soya Industries for ₹ 4,350 crore (US$ 520 million). Conglomerate (company) A conglomerate ( / k ə ŋ ˈ ɡ l ɒ m ə r ə t / )
6278-467: The principles of transparency, accountability, and ethical conduct, the Indian Parliament focuses on some of the key behavioral aspects for parliamentarians. In 2022, the Lok Sabha secretariat released a booklet listing out unparliamentary words and expressions before the start of the Monsoon session on 18 July 2022. The banned words if used during debates or otherwise in both the houses would be expunged from
6364-714: The production of electronics such as televisions. While not a keiretsu, Sony is an example of a modern Japanese conglomerate with operations in consumer electronics , video games , the music industry , television and film production and distribution , financial services , and telecommunications . In China, many of the country's conglomerates are state-owned enterprises , but there is a substantial number of private conglomerates. Notable conglomerates include BYD , CIMC , China Merchants Bank , Huawei , JXD , Meizu , Ping An Insurance , TCL , Tencent , TP-Link , ZTE , Legend Holdings , Dalian Wanda Group , China Poly Group , Beijing Enterprises , and Fosun International . Fosun
6450-490: The products manufactured by Ramdev's Divya pharmacy and sold by the Patanjali Pharmacy chain was Divya Putrajeevak Seed, described in its catalog as a natural herb which (according to the company) could treat infertility. However, doctors pointed out the misleading name of the drug: the word "putrajeevak" ( lit. transl. "son's life" ). Some Patanjali Pharmacy stores sold the drug with the claim that it would ensure
6536-463: The records of the parliament. On 13 December 2001, the Indian Parliament was attacked by an Islamic terrorist group. The perpetrators were Lashkar-e-Taiba (Let) and Jaish-e-Mohammed (JeM) terrorists. The attack led to the deaths of five terrorists, six Delhi Police personnel, two Parliament Security Services personnel, and a gardener, which totaled 14 fatalities. The incident led to increased tensions between India and Pakistan , resulting in
6622-406: The transaction was " accretive to earnings." The relatively lax accounting standards of the time meant that accountants were often able to get away with creative mathematics in calculating the conglomerate's post-acquisition consolidated earnings numbers. In turn, the price of the conglomerate's stock would go up, thereby re-establishing its previous price-earnings ratio, and then it could repeat
6708-405: The treatment #Covid19." Several news and fact-checking outlets, including The Wire , Alt News , BBC News and The Economic Times , ran fact-checking articles debunking Ramdev and Patanjali's claims; Coronil had received an export license, and had not received any approval regarding its effectiveness as a treatment against COVID-19. Patanjali Ayurveda CEO Balkrishna admitted on Twitter that
6794-425: The well-known conglomerates include Jardine Matheson (AD1824), Swire Group (AD1816), (British companies, one Scottish one English; companies that have a history of over 150 years and have business interests that span across four continents with a focus in Asia.) C K Hutchison Whampoa (now CK Hutchison Holdings ), Sino Group , (both Asian-owned companies specialize business such as real estate and hospitality with
6880-663: The whole process with a new target. In plain English, conglomerates were using rapid acquisitions to create the illusion of rapid growth. In 1968, the peak year of the conglomerate fad, U.S. corporations completed a record number of mergers: approximately 4,500. In that year, at least 26 of the country's 500 largest corporations were acquired, of which 12 had assets above $ 250 million. All this complex company reorganization had very real consequences for people who worked for companies that were either acquired by conglomerates or were seen as likely to be acquired by them. Acquisitions were
6966-468: Was endorsed by Bharatiya Janata Party spokesperson Sanju Verma, who called it "... a huge endorsement for Ayurveda India's homegrown StartUp ecosystem that has flourished under @narendramodi govt." Verma described the approvals granted to Coronil as a "slap in the face" to the BJP's opposition. On 22 February, the WHO said that it had not "... reviewed or certified the effectiveness of any traditional medicine for
7052-462: Was formed in 1981 from the merger of Fletcher Holdings , Challenge Corporation, and Tasman Pulp & Paper, in an attempt to create a New Zealand-based multi-national company. At the time, the newly merged company dealt in construction, building supplies, pulp and paper mills, forestry, and oil & gas. Following a series of bungled investments, the company demerged in the early 2000s to concentrate on building and construction. In Pakistan , some of
7138-529: Was framed in the Central Hall. The Central Hall was originally used in the library of the erstwhile Central Legislative Assembly and the Council of States. In 1946, it was converted and refurbished into the Constituent Assembly Hall. A new parliament building was inaugurated on 28 May 2023. The old building, an 85-year-old structure suffers from inadequacy of space to house members and their staff and
7224-514: Was inaugurated in 2023. The first session in the New Parliament took place on 19 September 2023. The Indian Parliament consists of two houses, namely, the Lok Sabha and the Rajya Sabha , with the president of India acting as their head. The President of India, the head of state , is a component of Parliament vide Article 79 of the Constitution. Under Article 60 and Article 111 of
7310-487: Was on its way out. The stock market eventually figured out that the conglomerates' bloated and inefficient businesses were as cyclical as any others—indeed, it was that cyclical nature that had caused such businesses to be such undervalued acquisition targets in the first place —and their descent put "the lie to the claim that diversification allowed them to ride out a downturn." A major selloff of conglomerate shares ensued. To keep going, many conglomerates were forced to shed
7396-697: Was one of the fastest-growing FMCG companies in India in 2016. It was valued at ₹ 3,000 crore (equivalent to ₹ 43 billion or US$ 520 million in 2023). Patanjali estimated its annual turnover for the 2016–17 fiscal year at ₹ 10,216 crore (US$ 1.2 billion). According to a report by India Infoline (IIFL), at least 13 listed companies would be affected by Patanjali's success; they included Hindustan Unilever , Colgate , Dabur , ITC , and Godrej Consumer Products . in crores Future Group , which has joined with Patanjali, sells about ₹ 30 crore (US$ 3.6 million) worth of Patanjali products every month. Patanjali Food and Herbal Park in Haridwar
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