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Bikaji Foods International acquires remaining stake in Petunt Food
Snack maker spends Rs 8 crore to buy the remaining 48.78 per cent stake
MUMBAI: Snack maker Bikaji Foods International said on Friday its board has approved the acquisition of the remaining 48.78 per cent equity stake in Petunt Food Processors Private Limited, turning the firm into a wholly owned subsidiary.
The additional investment, valued at about Rs 8 crore, will consolidate Bikaji’s ownership in Petunt Food. The company earlier held a 51.22 per cent stake in the food processor.
Following the transaction, Bikaji acquired 35,98,998 equity shares with a face value of Rs 10 each, representing the balance 48.78 per cent stake, the company said in a regulatory filing.
Petunt Food Processors has an authorised share capital of Rs 8 crore, comprising 80 lakh equity shares with a face value of Rs 10 each. Its paid-up share capital stands at Rs 7.37 crore, divided into 73,78,098 equity shares.
Bikaji said the acquisition aims to consolidate its shareholding and securing full ownership and operational control of Petunt Food, which plays a key role in the company’s operations in southern India.
Petunt Food Processors manufactures and processes a range of food products, including sweets and namkeen, and undertakes packaging, labelling, grading and distribution of food-related items.
The company reported a turnover of Rs 363 crore in FY2023, while its turnover stood at Rs 52.07 crore in FY2025.
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Maharashtra panel orders Lodha to refund Rs 5 crore to homebuyers
Consumer court flags unfair practices in long-running property dispute case
MUMBAI: In a sharp rebuke to one of India’s biggest real estate players, the Maharashtra State Consumer Disputes Redressal Commission has directed Macrotech Developers to refund nearly Rs 5 crore to a senior citizen couple, Uttam and Anindita Chatterjee. The ruling, delivered on March 13, 2026, calls out the developer for “deficiency in service” and “unfair trade practices”, bringing closure to a dispute that has stretched over a decade.
The case traces back to 2015, when the couple booked a 3-BHK flat at World Towers in Lower Parel for Rs 12.22 crore, with possession promised within a year. What followed was a series of changes that complicated matters. After deciding to exit the project, they were persuaded to shift to a 4-BHK in another development priced at Rs 8 crore, with delivery scheduled for 2018. However, within months, the price was allegedly increased to Rs 10 crore. After demonetisation reshaped the market, similar flats were reportedly being offered at lower prices, but the couple were not given the benefit.
Despite paying over Rs 2.83 crore, the couple neither received possession nor clarity. Instead, in 2018, the developer unilaterally cancelled the booking, retained part of the amount as earnest money, and argued that the buyers were investors rather than consumers. The commission rejected this claim, observing that casual references to “investment” do not take away consumer rights when the purchase intent is residential.
The bench also held that the developer could not penalise buyers for payment delays while failing to meet its own delivery commitments. It noted the lack of formal documentation for revised terms and termed the prolonged retention of funds without delivering a home as exploitative.
As part of its order, the commission directed the developer to refund Rs 2.83 crore paid by the couple, along with interest at 10 per cent per annum, amounting to around Rs 2.12 crore. In addition, Rs 1 lakh has been awarded for mental agony and Rs 50,000 towards litigation costs, taking the total payout to over Rs 5 crore. The developer has been asked to comply within two months.
For now, the ruling serves as a reminder that in real estate, shifting terms and delayed promises can carry a significant cost.
