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The Hon’ble Bombay High Court has dismissed the winding up petition against Ruchi Soya Industries Ltd. filed by IDFC Bank Ltd. The order of dismissal was pronounced on February 14, 2017 after hearing arguments from both sides. IDBI Bank Ltd., as leader of the consortium of lending banks, had pleaded itself as an intervener in the proceedings and opposed the winding up petition.
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The palm oil division of Ruchi Soya Industries Ltd. recently conducted an awareness camp for over 150 farmers in Singampalli village near Kakinada, Andhra Pradesh. Post demonetization, there were reports of difficulties faced by farmers in conducting financial transactions across the country. Cash being the primary mode of transaction, demonetization had impacted farmers at large. To address this issue and support the farmers through this difficult period, Ruchi Soya has launched the ‘Kisan Kalyan Ayojan’ digital banking initiative. As part of this initiative, the company is organizing awareness camps to help farmers open bank accounts so that they get payments online directly into their bank accounts.
Ruchi Soya Industries Limited, India’s leading Agri and Food FMCG company, today announced its plans to expand its Edible Oil Fortification initiative and play a role in curbing malnutrition in India. The company has been voluntarily fortifying its leading edible oil brands - Mahakosh, Sunrich and Nutrela with Vitamin A & D since 2014, cumulatively impacting 12 million consumers every month across the country.
