According to the Economic Times report, Patanjali, led by Baba Ramdev, wants to acquire Ayurveda, Ruchi Soya, after which successful bidder Adani Wilmar withdrew the offer to buy a loan-generating oil producer, in which to stop the proposal. The delay was referred to.
In August, Soya lenders had approved a bid of Rs 6,000 crore for the acquisition of a joint venture between the insolvent edible oil company, the Infrastructure Group Adani Group and the Singapore-based Wilmer International, Adani Wilmar.
Financial Day quoted a person familiar with development as saying that Patanjali Ayurveda – the second largest bidder for the company – has written a biologist Shailendra Ajmera, and the interested soya has said that it is still to acquire property Is eager for If chance is given, Adani’s proposal is ready for the match.
Vikas Adani Wilmar’s resolution comes in the context of professional letters and creditors’ mention that this interest is withdrawing the proposal of Rs 5,474 crore for soya because the delay in closing the process leading to “declining property” and “harmful” is. Stakeholder’s interest “, the person told ET.
In August, Patanjali Ayurveda had approached the Mumbai Bench of the National Company Law Tribunal (NCLT), who challenged the decision to give interest to Adani Wilmar. It can be noted that there is a loan of Rs 12,000 crore for Mumbai-based edible oil producer, interest soya.
It has been reported in several reports that Adani Wilmar offered to invest Rs 1,174 crore in equities to settle debt of Rs 4,17 crore and revive sick company, while Patanjali paid a loan of Rs 4,065 crore Done and proposed to invest Rs 1,700 crore.
Ruchi Soya was one of those 40 companies who were sent to bankruptcy courts for effective debt settlement in 2017 and Shailendra Ajmera was appointed as a resolution professional.