Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Som Distilleries and Breweries shares tank 16% amid child labour concerns, company issues clarification
Stock Market
On Tuesday, June 18, shares of Som Distilleries and Breweries plummeted 16 percent after the National Commission for Protection of Child Rights (NCPCR) discovered over 50 children working at its Madhya Pradesh plant, with many suffering skin burns from chemical exposure. \r
The NCPCR filed a case against the firm under juvenile justice and bonded labour laws. Som Distilleries clarified that the issue pertains to its associate company, which deals in country liquor, and not the listed company. The firm stated that contractors supplied labor, and the company had terminated the vendor’s services. \r
The stock fell 15.8 percent to ₹105, nearing its 33 percent drop from the October 2023 high of ₹155.92. Despite the decline, the stock has gained 27 percent over the past year. The Madhya Pradesh CM’s Office has vowed strict action against those involved in the child labour issue.
