Despite Indian regulations forbidding the advertisement of tobacco products, Philip Morris has kept up an informal ad blitz posting colourful advertisements at cigarette kiosks across the country.
The public interest litigation seeks the divestment of 32% shares held by public sector insurance companies in the tobacco major ITC.
Demonetisation wreaked havoc upon the best quarter for advertisers but ad firms and media houses insist that the blip was a temporary one.
Life Insurance Corp bought the stake, the sources added. While LIC is fully owned by the Indian government, its financials are independent of the government’s budget.
“Whatever needs to be done to curb tobacco consumption will be done,” health ministry officials said on the cigarette companies’ decision to close their factories over the new rules.