New Delhi . Honest Consumer Limited, the parent company of Mamaearth brand, said on Saturday that none of its assets will be confiscated in the United Arab Emirates (UAE) as it does not have any assets there. However, a Dubai court has ordered such action in an ongoing case with RSM General Trading LLC on the issue of termination of distribution rights. The company also owns the Derma and Aqualogica brands.

The company said on Friday that a Dubai court has ordered the confiscation of its assets in the UAE, but refused to cancel the business license of Honasa Consumer General Trading LLC. In a notice to the stock exchange on Saturday, the company said, "The assets of the company will not be confiscated, as none of the company's assets are located in the UAE." It said that Honasa Consumer General Trading LLC, a subsidiary of Honasa Consumer Limited, has been exempted from this order.

RSM General Trading LLC (RSM) and Honasa Consumer Limited (Honasa) had filed complaint statements against the precautionary attachment order passed by the Court of Merits in Dubai, UAE on June 6, 2024. The Dubai court dismissed both the appeals filed by RSM and Honasa.

Some more statements came yesterday.
Honasa said on Friday, 'A Dubai court has ordered the confiscation of Honasa's assets located in Dubai given the order to pay 2.5 crore dirhams compensation (loan).' The court has also refused to accept RSM's complaint, due to which the business license of Honasa General Trading LLC in Dubai will not be canceled. The Dubai court had allowed the confiscation of Honasa Consumer's assets in the UAE but it refused to cancel the business license of Honasa Consumer General Trading LLC. Let us tell you that Ghazal Alagh, who has appeared in Shark Tank India, is the co-founder of this company and actress Shilpa Shetty is its investor.