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Restaurant Brands Asia Limited ( (IN:RBA) ) has issued an update.
Restaurant Brands Asia Limited has disclosed that it received an order under the Food Safety and Standards Act, 2006 from the Additional District Magistrate of Kanpur City, Uttar Pradesh, imposing a fine of Rs. 1,50,000 for violations of Sections 26(2)(ii) and 52 of the Act. The company stated that the penalty will not have any material impact on its financials, operations or other activities, and it has reserved its right to challenge the order, signalling that it views the regulatory action as limited in scope but is prepared to contest it if necessary.
More about Restaurant Brands Asia Limited
Restaurant Brands Asia Limited, formerly known as Burger King India Limited, operates in the quick-service restaurant industry, running the Burger King brand in India. The company focuses on fast-food offerings and related services across its network of outlets, targeting mass-market consumers in urban and semi-urban locations.
Average Trading Volume: 199,505
Technical Sentiment Signal: Sell
Current Market Cap: 38.74B INR
See more insights into RBA stock on TipRanks’ Stock Analysis page.