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StanChart, DBS Bank file insolvency case against Ruchi Soya at NCLT

In Feb, one of Ruchi Soya's unsecured creditors had also filed an insolvency case against the company

Abhijit Lele  |  Mumbai 

bankruptcy, law, insolvency
Photo: Shutterstock

Two foreign lenders, and DBS Bank, have filed an suit against Ruchi Soya Industries at the National Company Law Tribunal (NCLT).

The company has informed the that the banks have filed applications with NCLT's Mumbai bench to initiate the Corporate Resolution Process (CIRP) under the and Bankruptcy Code. The copy of the notice has been served to the company.

The company did not disclose the alleged amount in default.

Ruchi Soya's stock was trading flat at Rs 22 per share on the

In February this year, one of Ruchi Soya's unsecured creditors had also filed an case against the company for the recovery of an amount of Rs 9.63 crore, which company had disputed then.

First Published: Sat, September 16 2017. 00:37 IST
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