New Delhi : Baba Ramdev-led Patanjali Ayurved has approached the NCLT challenging the decision by Ruchi Soya’s lenders to approve Adani Wilmar’s Rs 6,000 crore takeover bid.
The matter is expected to come up for hearing on Monday (August 27) before the Mumbai bench of the National Company Law Tribunal (NCLT), sources said.
When contacted, Patanjali Spokesperson S K Tijarawala declined to comment, saying that matter is sub-judice. A spokesperson of Adani Group also declined to comment.
On Thursday, Adani Wimar’s bid was approved by the committee of creditors (CoC) of the bankruptcy-bound Ruchi Soya with about 96 per cent votes in favour. The resolution professional has to seek NCLT approval after the lenders choose a bid.
Source: The Free Press Journal