Wadia-Danone row is in the government’s court now. Sources have said that Government will examine the complaint by the Wadia group against its French joint venture partner in Britannia Industries Ltd Groupe Danone. This news has also been confirmed by Industry Secretary Ajay Dua.
The government has received a letter from the Wadia Group stating that Danone had violated the provisions of Press Note 1, 2005. Press Note 1, clearly states that government’s prior approval is required for new proposals on foreign investments in cases where the foreign investor has an existing joint venture agreement with an Indian company in the same field. Dr. Dua said that the government will vigilantly examine the allegations and then come to a final conclusion.
