New Delhi: The NCLAT granted another extension, of one week, to Baba Ramdev-led Patanjali Ayurved for completion of Rs 4,350-crore resolution plan to acquire edible oil firm Ruchi Soya.
A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya extended the deadline to December 23.Earlier, on November 20, the appellate tribunal had extended the deadline till December 16 for implementation of the resolution plan for Ruchi Soya.
The original deadline for implementation of the resolution plan was November 21. The NCLAT's order came over an application moved by the Haridwar-based firm seeking extension of timeline.
However, the appellate tribunal also granted liberty to the lenders of debt-ridden firm to approach it in case Patanjali fails to make the promised payment within the stipulated time-frame.
The NCLAT granted another extension, of one week, to Baba Ramdev-led Patanjali Ayurved for completion of Rs 4,350-crore resolution plan to acquire edible oil firm Ruchi Soya.
A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya extended the deadline to December 23. Earlier, on November 20, the appellate tribunal had extended the deadline till December 16 for implementation of the resolution plan for Ruchi Soya.
The original deadline for implementation of the resolution plan was November 21. The NCLAT's order came over an application moved by the Haridwar-based firm seeking extension of timeline.
However, the appellate tribunal also granted liberty to the lenders of debt-ridden firm to approach it in case Patanjali fails to make the promised payment within the stipulated time-frame.
