 "Ruchi Soya")
The Australia and New Zealand (ANZ) Banking Group has moved the National Company Law Tribunal (NCLT), seeking its intervention in the insolvency and bankruptcy proceedings against Mumbai-based edible oils manufacturer Ruchi Soya.
Appearing on behalf of ANZ Bank, senior counsel Zal Andhyarujina said that the bank had granted multiple forms of credit to Aavanti Industries, a palm-oil producer based in Singapore, including six bills of exchange and an export credit contract.
The bank hopes that it is classified as a financial creditor to Ruchi Soya, while Aavanti Industries is an operational creditor, claiming dues totalling Rs 14.2 billion from Ruchi
