| Industry | Real estate |
|---|---|
| Founded | October 1910 Mumbai, India |
| Founder(s) | Jugatram Vaidya |
| Headquarters | , India |
Area served | India |
| Owner | Emami Group (68.90%) |
Zandu Realty Limited (formerly known as Zandu Pharmaceutical Works Limited) is an Indian company based in Mumbai. Founded in 1910 as an ayurvedic medicine manufacturer, the company later transitioned into the real estate sector following its acquisition by the Emami Group in 2008.[1][2]
History[edit | edit source]
Founding and early years[edit | edit source]
The company was established in October 1910 by Jugatram Vaidya, a renowned Vaidya (traditional physician) in Gujarat.[3] The firm was named after Vaidya Zandu Bhattji, an earlier notable figure in the family lineage.[4] The company went public in 1919 with the issuance of stocks, and over the following decades, it became a prominent name in the Indian pharmaceutical and ayurvedic products market.[4] By the early 21st century, the company's ownership was divided between two promoter families—the Parikhs and the Vaidyas.[3]
Emami acquisition and transition to real estate[edit | edit source]
In 2008, Kolkata-based FMCG major Emami Limited acquired a 68.9% stake in Zandu Pharmaceutical Works for approximately ₹730–750 crore, taking management control.[3][5] Following the acquisition, a scheme of arrangement was approved by the Calcutta High Court in 2009, which resulted in the demerger of the company's FMCG business (which was merged into Emami) from its remaining assets, primarily land and real estate holdings.[5]
The residual entity was subsequently renamed Zandu Realty Limited.[6] The company then focused on monetising its real estate assets, most notably a land parcel at Dadar in central Mumbai, where it entered into a joint venture with Sheth Developers to develop a 2.7-acre commercial complex.[6][7]
Controversy[edit | edit source]
In March 2025, the company's former pharmaceutical brand, now owned by Emami, became the subject of a controversy after a product-testing YouTube channel named Trustified, run by nutritionist Arpit Mangal, published a video alleging that "Zandu Ashwagandha Gold Plus" contained dangerously high levels of lead and mercury.[8] The video claimed that independent laboratory tests conducted by Eurofins Analytical Services India, an FSSAI-notified and NABL-accredited laboratory showed heavy metals well in excess of the limits set by the Ayurvedic Pharmacopoeia of India.[8]
Emami responded by filing a defamation and disparagement suit, and on 3 May 2025, a trial court granted an ex parte ad interim injunction restraining Mangal and Trustified from publishing or disseminating any content related to the product.[9]
Mangal challenged the injunction before the Calcutta High Court. On 22 September 2026, a Division Bench of Justices Sabyasachi Bhattacharyya and Sandip Kumar De set aside the trial court's order, ruling that the injunction amounted to a "gag order" that stifled free speech in the larger public interest.[8][10] Applying the Bonnard principle, the court found that Emami had not demonstrated that Mangal's defence of truth was certain to fail at trial, and noted that the testing was conducted by accredited laboratories without any apparent commercial motive on the part of the YouTuber.[9][10]
References[edit | edit source]
- ↑ Anuradha (30 March 2009). "Emami group to restructure Zandu Pharma business". The Economic Times. Retrieved 3 February 2019.
- ↑ "Zandu Pharmaceutical Works Limited (506720) Company Profile". CorporateInformation.com. Retrieved 27 July 2010.
- ↑ 3.0 3.1 3.2 "The inside story of the Zandu takeover battle". Mint. Retrieved 6 November 2026.
- ↑ 4.0 4.1 "Zandu: More on Us". Zanduayurveda.com. Archived from the original on 5 March 2002. Retrieved 16 February 2016.
- ↑ 5.0 5.1 "HC approves Emami, Zandu demerger scheme". The Financial Express. Retrieved 6 November 2026.
- ↑ 6.0 6.1 "Zandu Realty enter into agreement with realty developer Sheth Corporation". The Economic Times. Retrieved 6 November 2026.
- ↑ "Zandu Realty has struck a deal with Sheth Developers". Track2Realty. Retrieved 6 November 2026.
- ↑ 8.0 8.1 8.2 "Calcutta HC quashes 'gag order' against YouTuber who flagged heavy metals in Emami product". MediaNama. Retrieved 6 November 2026.
- ↑ 9.0 9.1 "Emami vs influencer: HC lifts injunction on product-testing video, says pre-trial gag needs higher bar". ThePrint. Retrieved 6 November 2026.
- ↑ 10.0 10.1 "Calcutta High Court Lifts Gag Order On YouTuber Arpit Mangal Over Emami Zandu Ashwagandha Video". LiveLaw. Retrieved 6 November 2026.