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Patanjali gets control of Ruchi Soya for Rs 4,350 crore

After a prolonged battle, the NCLT Thursday finally cleared the Rs 4,350-crore bid by yoga guru Ramdev-run Patanjali Ayurved to take over edible oil player Ruchi Soya, which owes over Rs 9,345 crore to the lenders & around Rs 2,800 crore to other creditors. The NCLT dismissed the petitions filed by Standard Chartered Bank and Singaporean lender DBS, which had both challenged the low bid by Patanjali. Ruchi Soya owes over Rs 9,345 crore to financial creditors led by SBI, which has an exposure of Rs 1,800 crore.

Read More at The Economic Times News date : 26 Jul 2019, Friday

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