The National Company Law Tribunal (NCLT) Thursday approved yoga-exponent-Ram Dev-run Patanjali's revised Rs 4,350-crore bid to take over the edible oil maker Ruchi Soya, which owed banks over Rs 9,345 crore. However, the tribunal said the approval is subject to the tribunal resolution professional bridging the information gap regarding the exact source of funds worth Rs 600 crore (which is part of the bid amount) before the next date of hearing on August 1.
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Watch NCLT approves Patanjali's Rs 4,350 crore bid for Ruchi Soya With HD Quality.
The National Company Law Tribunal (NCLT) Thursday approved yoga-exponent-Ram Dev-run Patanjali's revised Rs 4,350-crore bid to take over the edible oil maker Ruchi Soya, which owed banks over Rs 9,345 crore. However, the tribunal said the approval is subject to the tribunal resolution professional bridging the information gap regarding the exact source of funds worth Rs 600 crore (which is part of the bid amount) before the next date of hearing on August 1.
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Watch NCLT approves Patanjali's Rs 4,350 crore bid for Ruchi Soya With HD Quality
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Delhi: 28 मार्च को बंद होगा Ruchi Soya का FPO, निवेश का सुनहरा मौका | Janta Tv |
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Delhi: 28 मार्च को बंद होगा Ruchi Soya का FPO, निवेश का सुनहरा मौका | Janta Tv |
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In a setback to Ruia's, the Ahmedabad bench of the National Company Law Tribunal today has rejected the settlement offer by Essar Steel Ltd.’s promoters, the Ruia family. The ruling comes amid Arcelor Mittal's argument that Ruia's offer violated IBC. Essar Steel will now approach NCLAT. The tribunal also said that there is no illegality in decision taken by committee of creditors on selecting ArcelorMittal.
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National Company Law Tribunal (NCLT) Amedabad bench today cleared ArcelorMittal's Rs 42,000 crore resolution plan for Essar Steel takeover. ArcelorMittal, which has been engaged in a drawn-out attempt to acquire Essar Steel since 2017, had made a Rs 42,000 crore offer for the bankrupt Essar steel.
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Watch ArcelorMittal bags Essar Steel as NCLT Ahmedabad clears Rs 42,000 cr takeover bid With HD Quality
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