Ruchi Soya, the largest manufacturer of edible oil in India, stated that it has paid the load of 2, 925 crores on Friday.
It repaid the debt, and became a debt-free company.
The company owned by Baba Ramdev, is an Ayurved company that has recently raised ₹4,300 crore through a public offer, and succeeded in repaying the debt with the money.
Acharya Balkrishna, tweeted that Ruchi Soya has become debt-free.
In 2019, Ruchi Soya was declared insolvent, as it has a debt of ₹4,350 crores.
In its draft prospectus, the company had mentioned that it would repay the loan of around ₹ 1,950 crore to the lenders, yet it has decided to pay the entire debt of money to the banks of India, including, Allahabad bank, Punjab National Bank and Union Bank of India.
