Ruchi Soya's Financial Results Postponed
Bankruptcy-hit Ruchi Soya today said its financial results could not be approved today as resolution professional (RP) sought certain clarification from management.
New Delhi , May 30 (PTI) Bankruptcy-hit Ruchi Soya today said its financial results could not be approved today as resolution professional (RP) sought certain clarification from management.
In a regulatory filing, Ruchi Soya said the draft financial results of the company for the quarter and financial year ended March 31, 2018 were considered by the resolution professional.
"However, he desired clarifications/management representation on certain matters. Hence the same could not be approved," the filing said.
In December 2017, Ruchi Soya Industries Ltd entered into the Corporate Insolvency Resolution Process (CIRP) and Shailendra Ajmera was appointed to act as interim resolution Professional (IRP).
The appointment was made by the National Company Law Tribunal (NCLT) on the application of the creditors Standard Chartered Bank and DBS Bank Ltd, under the Insolvency and Bankruptcy Code.
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