Corporate News 20-Dec-17
Ruchi Soya Industries intimates of initiation of Corporate Insolvency Resolution Process
Under Insolvency and Bankruptcy Code
Ruchi Soya Industries announced that the NCLT has initiated the Corporate Insolvency Resolution Process (CIRP) as per the provisions of the Insolvency and Bankruptcy Code, 2016. A copy of the said order has been received by the Company on 18 December 2017. Upon initiation of CIRP, the powers of the Board of Directors of the Company have been suspended and shall be exercised by the Interim Resolution Professional.
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