Ramdev's Patanjali Ayurved ups offer for bankrupt Ruchi Soya to Rs 4,350 cr

The revised offer will mean the lenders will have to write off 60% of their dues

Company News : Baba Ramdev's Patanjali Ayurved has improved its idea for bankrupt Ruchi Soya to Rs 4,350 crore as forthright money to banks. As prior offered, it will likewise imbue Rs 1,700 crore into the organization.
The amended offer will mean the moneylenders should discount 60 percent of their contribution. Adani Wilmar had allegedly offered Rs 4,300 crore in August a year ago, yet pulled back this January, refering to postpone in the goals procedure. Patanjali's prior offer was for Rs 4,100 crore. Adani had proposed an extra Rs 1,700 crore, as Patanjali did, for reserve implantation.
Adani was proclaimed the most astounding bidder however Patanjali protested, saying its offer was better. A source said the Adani offer was before chosen as repayment of bank credits has higher load in the assessment (of the loan specialists) than the implantation of assets into the account holder organization.Contiue Reading

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