A file photo of DBS Bank. Photo: Bloomberg
New Delhi: Edible oil maker Ruchi Soya Industries Ltd on Friday said its creditors DBS Bank and Standard Chartered Bank have filed applications with the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against the company.
In two separate BSE filings, Ruchi Soya said that it has received copies of the applications filed by DBS Bank and Standard Chartered to begin corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code against it.
Ruchi Soyas primary lines of business include selling packaged edible oils and soyabean chunks, oilseed extraction, edible oil refining, and wind power generation.
Ruchi Soyas total borrowings stood at Rs12,232.22 crore…
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