patanjali ayurved | ruchi soya: Did Patanjali get 60000

Yoga guru Baba Ramdev speaks during a press conference on January 24, 2020 in New Delhi, India. He said that Patanjali group, which has acquired debt-ridden Ruchi Soya, is expecting 25,000 crore turnover this fiscal, and aims to become the country’s largest FMCG company in coming years.

Synopsis

Two foreign subsidiaries of Ruchi Soya had huge leased land holdings — 25,000 hectares in Ethiopia, 17,000 hectares in Madagascar, and 20,000 hectares in Cambodia. However, in March 2020, Ruchi Soya sold the two subsidiaries to a Lucknow-based entity at a throwaway price. A closer look reveals that the buyer has close links with Patanjali, the current promoters of Ruchi Soya.

The cheer and the broad smiles were hard to miss. As a consortium led by Patanjali Ayurved steered Ruchi Soya out of insolvency in December 2019, investors and stakeholders were a relieved lot. The INR4,350 crore deal was one of the success stories of insolvency resolution in India. But what followed could raise many eyebrows.On November 17, 2020, Ruchi Soya in a stock exchange filing announced that the company has disposed of five of its

Apr 15, 2021, 12:10 PM IST

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