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SFIO probes Ruchi Soya Industries

Press Trust of India  |  New Delhi 

Soya Industries today said it has received a letter from the SFIO regarding a probe into the affairs of the company.

On Monday, an official source had said that the (SFIO) is probing Soya and two other companies for alleged financial irregularities.

In a filing to the BSE, the company it received a letter from the SFIO regarding investigation into its affairs under Section 212(1) of the Companies Act, 2013.

Section 212 pertains to probe by the SFIO.

Leading firm Soya Industries is under insolvency proceedings. The company, which owns brands such as Nutrela, Mahakosh, and Ruchi Gold, has a total debt of around Rs 12,000 crore.

Shares of Ruchi Soya declined over six per cent to close at Rs 10.45 on the

The two other companies under the SFIO lens are Sterling Biotech and Kanishk Gold. All the three firms are already under the regulatory scanner for loan defaults.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 15 2018. 22:05 IST