Ruchi Soya lenders approve Adani Wilmar's Rs 60-billion resolution plan

The insolvency and bankruptcy proceedings for Ruchi Soya have entered the last leg as lenders have approved of Adani Wilmar’s resolution plan with a majority vote of 96.7 per cent by the committee of creditors (CoC). Adani Wilmar’s bid of Rs 60 billion was approved by the lenders on Thursday night. 

As the only other contender in the race to acquire Ruchi Soya, Patanjali Ayurved had made a bid offer of Rs 57 billion for the company. 

Last week, the Competition Commission of India approved of Wilmar’s resolution plan. 

The resolution professional appointed to Ruchi Soya will file the resolution