Business
Removed Ben & Jerry’s chair says Magnum aimed to ‘smear’ her
The ousted chair of Ben & Jerry’s has accused the company which owns the brand of threatening to launch a public smear campaign against her.
Anuradha Mittal, who chaired Ben & Jerry’s independent board for seven years, told the BBC that Magnum had threatened to publish “defamatory statements” about her if she did not step down from her role.
It relates to an increasingly bitter dispute between the Vermont-based activist ice cream maker and its owner over the independence of the board and its freedom to pursue its social missions.
Magnum said in its view Mittal “no longer met the criteria to serve” on the board, following an investigation it had commissioned by external advisors.
In a statement on Monday, Magnum outlined changes to the way the board operates including a nine-year limit for people serving on it.
As well as Mittal, who said she had received a letter telling her she had been removed from the board, two other board members will be required to leave as a result.
It also said that an audit of the Ben & Jerry’s Foundation, a charitable organisation, had “identified a series of material deficiencies in financial controls, governance and other compliance policies, including conflicts of interest”.
Speaking to the BBC’s World Business Report, Mittal said there had been an escalation of the friction between Ben & Jerry’s board and its owner, over the brand’s independence, social mission and integrity.
“For several years now, we have been resisting their overreach, including their efforts to muzzle us from speaking out for human rights, for peace,” she said.
The brand, which is also known for the playful puns in its flavour names, was owned by Unilever until earlier this month, when the household goods giant spun off its ice cream unit to create, Magnum Ice Cream Company.
Ben & Jerry’s was sold to Unilever in 2000 in a deal which allowed it to retain an independent board and the right to make decisions about its social mission.
This was a frequent source of friction while owned by Unilever.
In 2021, Ben & Jerry’s refused to sell its products in areas occupied by Israel, resulting in its Israeli operation being sold by Unilever to a local licensee, and in October, Ben Cohen said it was prevented from launching an ice cream which expressed “solidarity with Palestine”.
This row has now been inherited by Magnum, culminating in this week’s stand-off, and Mittal’s removal.
“This October, Unilever-Magnum executives threatened me with defamatory statements in their forthcoming prospectus if I did not resign,” Mittal said.
“At the same time, they offered me a prominent role in a multimillion dollar Unilever-funded non-profit if I gave in,” she added.
She said she had turned down that “inappropriate” offer.
Magnum is now the world’s largest ice cream maker, with its brands include Cornetto, Wall’s and Carte D’Or.
Mittal, founder of the Oakland Institute, a human rights and development focused think tank in California, described Magnum’s approach as a “public smear campaign” and said the allegations were unfounded.
One of the firm’s original founders Jerry Greenfield left the firm in September saying he felt its social mission was being stifled. The other, Ben Cohen, has also hit out at Magnum saying it was “not fit” to own the firm.
In a statement a spokesperson for Magnum said the steps it had taken were aimed at strengthening corporate governance and to “reaffirm the responsibilities of the Board of Ben & Jerry’s”.
“These actions aim to preserve and enhance the brand’s historical social mission and safeguard its essential integrity,” a spokesperson said.
When Ben & Jerry’s was created in 1978 it made its mark selling flavours such as Cherry Garcia named after the guitarist from rock band Grateful Dead, Bohemian Raspberry, a play on the Queen track, and the now discontinued Vermonty Python.
Magnum said in its statement: “We remain unequivocally committed to Ben & Jerry’s three-part mission – product, economic and social – and its progressive, non-partisan values.
“Ben & Jerry’s continues to advocate for a range of causes and be a bold voice for social justice, as a glance at its social media channels demonstrates.”
Business
Tech oversight: Sebi to form working group on exchange technology; aim to strengthen market resilience – The Times of India
Markets regulator Sebi is planning to constitute a working group to identify the next technological frontier for stock exchanges, Sebi chairman Tuhin Kanta Pandey said on Saturday, underlining the regulator’s focus on strengthening market infrastructure amid rapid technological change, PTI reported.The proposed group will examine how exchange technology should evolve over the next five to 10 years, benchmark global best practices and suggest new approaches to enhance market systems. “We are going to constitute a working group on how it is going to be our next technological frontier in our stock exchanges,” Pandey told reporters on the sidelines of the 11th International Convention of the Commodity & Capital Participants Association of India (CPAI).Pandey explained that the technological frontier refers to the use of cutting-edge tools to improve market oversight, operational efficiency and investor protection. He stressed that technological robustness remains critical for the regulator, adding that Sebi takes every exchange-related glitch seriously.While acknowledging that disruptions can occur in a fast-evolving technology environment, he said there is a need for stronger safeguards. To address technical flaws, exchanges are required to carry out detailed root-cause analyses and submit comprehensive standard operating procedures (SOPs) along with corrective measures to the regulator.Responding to a query on the recent outage at the Multi Commodity Exchange (MCX), Pandey said Sebi follows a clearly defined process whenever a technical issue occurs at an exchange. This includes imposing strict penalties if the disruption crosses specified thresholds.He added that the regulator is also examining such incidents from a systemic perspective. “By identifying commonalities in these glitches, we aim to understand how we can better secure and strengthen our market technology,” Pandey said.
Business
Stocks Of Indian Company, With Just 2 Workers, Shot Up 55,000% Over Something That It NEVER Manufactured!
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RRP Semiconductor Ltd.’s spectacular stock rally is making headlines, but the company isn’t what its name suggests.
There is an ongoing probe on the shocking share surge. (Representative Image)
The stock market can be full of surprises, but few stories are as bizarre as this one. An Indian company, RRP Semiconductor Ltd., has seen its stock soar by a mind-blowing 55,000% in just 20 months, all this while reportedly having just two employees. What makes the story even stranger is that, despite its name, the company does not manufacture semiconductors at all.
The sheer absurdity of such a small company seeing this kind of surge makes it one of the most surreal episodes in recent Indian stock market history.
Trading Restricted By Stock Exchanges
Trading in RRP Semiconductor Ltd. has now been restricted by stock exchanges. On the BSE, the stock’s page displays the notice, “Trading Restricted – on account of Surveillance Measure.” RRP Semiconductor has been placed under Stage 1 of the Long-term Additional Surveillance Framework and Stage 0 of the GSM framework, reported CNBC-TV18.
A 55,000% Rally That Defies Fundamentals
The over 55,000% in the 20 months till December 17 is by far the biggest gain worldwide among companies with a market value above $1 billion, reported Bloomberg. This is despite the company posting negative revenue in its latest financial results.
The jaw-dropping stock market story is also doing the rounds on Instagram. According to a reel, “Rs 10,000 invested in it would have grown to Rs 55 lakhs during this window.”
Name Change Sparks Frenzy
Until 2024, RRP was a little-known real estate firm called GV Trading and Agencies. Things changed when Rajendra Chodankar, the founder of RRP, struck a deal to take over GD Trading and Agencies by repaying a Rs 8 crore loan owed to its founders. Chodankar renamed the company RRP Semiconductor. That single word, semiconductor, proved to be a powerful magnet for retail investors.
As the reel explains, “The moment the word ‘semiconductor’ entered this company’s name, retail investors went crazy.”
The timing was perfect. Global chipmakers like NVIDIA were soaring, AI was dominating headlines and India had no listed pure-play semiconductor manufacturing companies. For many investors, this stock seemed like a rare entry point into a hot global theme.
Hype, Rumours, Star Power
Fuel was added by unverified claims swirling on social media, including false rumours of cricket great Sachin Tendulkar being associated with the company and talk of 100 acres of land being allotted.
The real driver of the dizzying rally lay elsewhere. According to September shareholding data, Chodankar and a few of his close associates hold over 90% of the shares, leaving very little free float in the market.
Myths Busted
The reel also busts the biggest myths outright. “The talks of Sachin Tendulkar, 100 acres of land, all of that is completely fake.”
The episode has become a cautionary tale for investors caught in the fear of missing out. The narrator says. “NVIDIA is up, AI is everywhere and India has no semiconductor stocks. But this is a classic example of that desperation being exploited.”
SEBI Launches Investigation
The Securities and Exchange Board of India (SEBI) has launched a probe into the company. The market regulator is examining the sharp rise in RRP’s shares for possible wrongdoing.
Delhi, India, India
December 20, 2025, 14:50 IST
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New Delhi: Many bank customers are unsure whether bank branches are open or closed today, Saturday, December 20, 2025, leaving them confused about whether to step out for important work or postpone their visit. With different banking schedules on weekends and varying services available on Saturdays, people are keen to know if branches are operating today or if it’s better to wait until a regular weekday.
Bank Holiday Status Today: Are Branches Open on December 20, 2025?
Banks are open today, as December 20, 2025 falls on the third Saturday of the month. In India, bank branches remain closed on the second and fourth Saturdays, while they operate normally on the first, third, and fifth Saturdays. Since today is the third Saturday, customers can visit physical bank branches for their regular banking needs.
Banking Services Available Even on Holidays
Even if banks are closed on a holiday, you don’t have to worry about urgent transactions. Online banking and mobile banking apps continue to work, even on national holidays, unless the bank informs customers in advance about maintenance or technical issues. For cash withdrawals and payments, you can rely on ATMs, internet banking, fintech apps, and UPI services, which remain available round the clock.
December 2025 Bank Holidays: State-Wise List to Keep in Mind
Here’s a quick look at bank holidays falling in different states during December 2025, so you can plan your branch visits accordingly:
December 20, 2025 (Saturday): Banks remain closed in Sikkim on account of the Losoong and Namsoong festival.
December 22, 2025 (Monday): Banks are again closed in Sikkim to mark the Losoong and Namsoong festival.
December 24, 2025 (Wednesday): Banks will be shut in Mizoram, Nagaland and Meghalaya due to Christmas Eve.
December 25, 2025 (Thursday): Banks across India remain closed to celebrate Christmas.
December 26, 2025 (Friday): Banks are closed in Mizoram, Nagaland and Meghalaya as part of Christmas celebrations.
December 27, 2025 (Saturday): Banks remain closed in Nagaland on account of Christmas.
December 30, 2025 (Tuesday): Banks are closed in Meghalaya to observe the death anniversary of U Kiang Nangbah.
December 31, 2025 (Wednesday): Banks are shut in Mizoram and Manipur for New Year’s Eve and Imoinu Iratpa festival.
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