For Quick Alerts
For Daily Alerts

ITC Shuts Cigarette Units To Meet Pictorial Warning Norm

By Religare

India's biggest cigarette maker ITC Ltd said that its cigarette factories have been shut since May 04, 2016 and will remain so untill the time it is able to comply with interim requirements of 85 per cent pictorial warnings on packages of tobacco products.

ITC Shuts Cigarette Units To Meet Pictorial Warning Norm
ITC: Quotes, News
BSE 268.40BSE Quote4.55 (-1.70%)
NSE 268.30NSE Quote4.7 (-1.75%)
In a filing to the Bombay Stock Exchange, ITC said, "The company has had to shut its cigarette factories from May 04, 2016 until the company is in a position to comply with the interim requirements pending hearing in the Karnataka High Court."

On May 04, 2016, the Supreme Court had directed the tobacco companies to implement the rule mandating larger pictorial warnings and refused the manufacturers' plea to stay the implementation of new cigarette packaging rules.

The apex court said that the tobacco companies have to follow the rules till the Karnataka High Court, where all the petitions from various high courts are being transferred, pronounced its final order.

Last month, the company had resumed manufacturing of cigarettes at its factories, which it had suspended from April 1 in protest against the larger pictorial warnings issue.

The Kolkata-headquartered firm had suspended manufacturing at all its five cigarette factories saying there was a lack of clarity in policy regarding printing of larger pictorial warnings on the packets. All other cigarette manufacturers had taken similar decisions.

Meanwhile, shares of ITC were trading at Rs 314.20 apiece, down 1.05 per cent, from previous close on BSE at 10:22 hours.

Read more about: itc
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more