The aim is to push HUL to No 2 in five years: Ramdev
Patanjali will touch Rs 25,000 crore in revenue by the end of the current fiscal year.
Patanjali group eyes Rs 25k crore turnover in FY20
Patanjali group will register a joint turnover of Rs 25,000 crore in the current fiscal en...
Patanjali deposits equity for Ruchi Soya acquisition
Patanjali Ayurved has deposited its equity portion in a State Bank of India (SBI) escrow...
UCO Bank recovers Rs 900 crore from debt resolution under NCLT
UCO Managing Director AK Goel said that recovery from four accounts, namely Ruchi Soya, Essar Steel, RattanIndia Power and Prayagraj Power, is complete. This may help the bank reduce net losses in the third quarter while the bank is expecting to be back in black in the fourth quarter.
NCLAT grants one more week to Patanjali Ayurved to complete Rs 4,350-crore Ruchi Soya deal
A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya extended the deadline to December 23. Earlier, on November 20, the appellate tribunal had extended the deadline till December 16 for implementation of the resolution plan for Ruchi Soya. The original deadline for implementation of the resolution plan was November 21.
Lenders get a paltry Rs 16 crore from Rs 8,600-crore claims
24 cases have completed the liquidation process and an order of dissolution has been passed.
SBI refuses to fund Patanjali’s Ruchi Soya buyout on its own
As much as Rs 3,700 crore of the acquisition cost was supposed to have been funded by bank loans with Patanjali infusing Rs 600 crore from its own internal accruals. Bankers are also wary of funding the home-grown consumer goods company after rating downgrades by rating agencies Care and ICRA in October.
Banks get $7.6 billion boost from India bankruptcy recovery
Sped up bankruptcy recovery could see SBI, IDBI, BoI, Canara Bank and Bank of Baroda get their dues.
NCLAT rejects DBS Bank's plea challenging distribution of funds from Ruchi Soya resolution plan
DBS Bank has extended financial debt amounting to USD 50 million (around Rs 243 crore) to Ruchi Soya and had secured as a sole first charge on fixed assets of the debt-ridden firm at Baran, Guna, Daloda, Gadarwara, Mumbai and Kandla. During the insolvency proceedings, RP had admitted claims of Rs 242.96 crore of DBS Bank.
NCLAT extends deadline to December 16 for implementation of Patanjali's bid for Ruchi Soya
NCLT had admitted the insolvency plea filed by two lead financial creditors Standard Chartered Bank and DBS Bank. However, later the Singapore-based DBS Bank became dissenting creditor and approached NCLAT challenging the distribution of proceeds from the bid submitted by Baba Ramdev-led Patanjali Ayurveda.
Patanjali secures Rs 3,200 crore loan from banks to buy Ruchi Soya
"The company has already secured required total debt from a consortium of banks led by State Bank of India," Patanjali Ayurved Managing Director Acharya Balkrishna said in a statement. Patanjali also said it has got loans of Rs 1,200 crore from SBI, Rs 700 crore from Punjab National Bank, Rs 600 crore from Union Bank of India.
Ruchi Soya acquisition plans on track; loans secured: Patanjali
Refuting reports that Patanjali Ayurved was finding it tough to raise fresh loans of Rs 4,000 crore following a downgrade by a ratings agency, Patanjali Ayurved chief executive Acharya Balkrishna said the downgrade by CARE was based on factors which had no relation to corporate guarantee not being offered by Patanjali.
Patanjali to infuse Rs 3,438 crore in Ruchi Soya to settle dues
Patanjali will infuse over Rs 3,438 cr as equity and debt to settle dues of creditors of the debt-laden firm.
Care Ratings downgrades Patanjali as acquisition raises risks
Care Ratings Ltd. downgraded Patanjali’s long-term bank facilities to A- from A+.
Ruchi Soya hits upper circuit as Patanjali set to infuse Rs 3,438 crore
The company said that Patanjali group will infuse Rs 204.75 crore as equity.
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