In a recent development that has caught the attention of consumers and the dairy industry alike, Amul , one of India's leading dairy cooperatives, has provided clarity on the impact of the recent Goods and Services Tax (GST) rate cut on milk prices.

GST Council's Decision

The GST Council recently approved the removal of the 5% tax on packaged milk, with the new rates set to take effect from September 22. This decision was initially expected to bring relief to consumers in the form of reduced milk prices.

Amul's Clarification

However, Jayen Mehta, Managing Director of Amul, has clarified that the price change will not be as widespread as some may have anticipated. According to Mehta, the prices of fresh pouch milk will remain unchanged. This is because fresh milk already enjoyed a zero percent GST rate prior to the council's decision.

Impact on UHT Milk

The real impact of the GST rate cut will be seen in the prices of Ultra-High Temperature (UHT) milk products. These products, which previously carried a 5% GST, will now see a reduction in price due to the tax being reduced to nil.

Current Pricing

For context, Amul's current pricing structure for fresh milk remains as follows:

Expected Price Reduction

While initial expectations suggested that the GST exemption could lead to a price reduction of approximately Rs 3.00 to 4.00 per litre, Amul has clarified that this reduction will only apply to UHT milk products. Fresh milk pouches, which make up a significant portion of daily consumer purchases, will not see any price changes.

This clarification from Amul provides important information for consumers and highlights the nuanced impact of tax policy changes on different product categories within the dairy industry. While UHT milk consumers may see some relief, the majority of fresh milk buyers will not experience any immediate price benefits from this GST rate adjustment.

Mauria Udyog Limited , an ISO 14001 & OHSAS 18001 certified company specializing in LPG cylinders, valves, and regulators, has found itself embroiled in a family dispute that has escalated to legal proceedings and potential regulatory concerns.

FIR Filed Against Managing Director

The company disclosed that an FIR (First Information Report) has been registered against its Managing Director, Navneet Kumar Sureka, by his father and fellow promoter, Vishnu Kumar Sureka. The complaint was filed at the Sector-58 Faridabad Police Station, with charges levied under multiple sections of BNS, including 318(4), 336(3), 338, 340, 61, and 126.

Managing Director Denies Allegations

In a letter to the company, Navneet Kumar Sureka vehemently denied all allegations, describing them as "false and fabricated." He contends that he is the real victim in what appears to be a property dispute, suggesting that the complaint is influenced by his younger brother, Akhil Kumar Sureka.

Navneet Kumar Sureka stated, "This is a false & fabricated story just to usurp my property/project by the complainants under the influence of my younger brother." He further added that he had previously provided clarifications and relevant documents to the police, who had initially assured him that no case would be registered.

Unauthorized Share Sales Reported

Adding another layer of complexity to the situation, the company reported that Vishnu Kumar Sureka has been selling equity shares held by Vishnu Kumar Sureka (HUF) in the open market over the past 10-15 days. These transactions were allegedly conducted without prior intimation to the company or obtaining pre-clearance from the Compliance Officer, potentially raising regulatory concerns.

Implications for Mauria Udyog

This family dispute and the associated legal and regulatory issues could have significant implications for Mauria Udyog Limited. The company may face increased scrutiny from regulators and shareholders alike.

As the situation unfolds, stakeholders will be closely watching how the company manages these challenges and maintains its corporate governance standards. The outcome of the legal proceedings and any potential regulatory actions could have a substantial impact on the company's operations and market perception.

Mauria Udyog Limited has stated that it has informed the relevant stock exchanges about these developments, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.