Acharya Balkrishna, MD of Patanjali Ayurved Ltd, tweeted that Ruchi Soya has become debt-free. In its draft red herring prospectus, the company had mentioned that it would repay loan of around Rs 1,950 crore to the lenders, a company spokesperson said.
If Ruchi Soya fails to repay the loan, lenders can invoke the personal guarantees and LoCs issued by Patanjali promoters, including Balkrishna. Ruchi Soya has to pay back around Rs 824 crore by the financial year 2025 and Rs 1,553 crore by 2029.
Ram Bharat has been appointed as Managing Director of Ruchi Soya till December 17, 2022.
The complaint seeking registration of an FIR on cheating, criminal conspiracy and other charges was filed in the court of Chief Judicial Magistrate Mukesh Kumar on Tuesday by Tamanna Hashmi, who identifies himself as a social worker and is often in news for his numerous court complaints against politicians over various issues.
Patanjali Ayurved on Wednesday completed its first big acquisition by paying Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process.
A complaint in this regard was made on August 4 at the Sector 20 police station here by Pramod Joshi.Pramod Joshi,
His rise in economic stature is owed to the success of Patanjali Ayurved Limited, which he co-founded alongside Baba Ramdev
As far as making jeans is concerned, our focus area is not just on jeans but on every item of clothing, every item of Indian clothing, says Balkrishna
One can appreciate the reasons for Balkrishna’s confidence. Think ayurved and the company occupies what everybody knows about but few manage – the top of the mind recall – and this happened like a bolt from the blue. The company closed the last financial year with Rs 10,000 crore in sales.
Baba Ramdev was so moved by the writings of Dayanand Saraswati that he quit the government school,fled from home and enrolled himself in a gurukul.
The company, a household name because of its mascot Baba Ramdev, will set up four manufacturing plants in as many cities in India this financial year, according to Balkrishna.
CNBC-TV18's Priya Sheth travelled to Haridwar for the first-ever sneak peek into Patanjali's facility in Haridwar for an exclusive chat with the man at the helm, Acharya Balkrishna, MD, Patanjali Ayurveda.
"Patanjali Group has been given offers by many states to set up food processing park. But we have decided to establish it in Madhya Pradesh and if everything goes well then it will become functional this year itself," Ramdev said.
Acharya Balkrishna, a close associate of Baba Ramdev, is director in 34 companies having a combined turnover of more than Rs 265 crore, Parliament was informed today.