NCLT approves Patanjali's revised Rs 4,350-cr bid to take over Ruchi Soya

The tribunal also asked the resolution professional to furnish the actual cost of the entre resolution process

After a protracted battle, the NCLT Thursday finally cleared the Rs 4,350-crore bid by yoga- exponent Ram Dev-run Patanjali Ayurved to take over edible oil player Ruchi Soya, which owes over Rs 9,345 crore to the lenders and around Rs 2,800 crore to other creditors.

The NCLT approval comes after it dismissed the petitions filed by Standard Chartered Bank and Singaporean lender DBS, which had both challenged the low bid by Patanjali and the resultant lower payout.

Ruchi Soya owes over Rs 9,345 crore to financial creditors led by State Bank of India, which has an exposure of Rs 1,800 crore, followed