Claim: Ramdev baba owned Ruchi soya company's debt of ₹2,212 crores was waived off.
Fact-check: Ruchi Soya's debt of ₹2,212 crores was written off even before its acquisition by Patanjali Ayurvedic - FACTLY
Verdict: according to the rbi report, ruchi soya's debt of ₹2,212 crores were technically written off, which means, the lending banks clean up the bad loans from their balance sheet. however, the loan account still stays to continue with the lending bank as they can try to recover it later. moreover, in december 2017, ruchi soya industries entered the corporate insolvency resolution process because of its total debt of about ₹12,000 crores. in december 2019, patanjali ayurved, co-founded by baba ramdev acquired the debt ridden ruchi soya for ₹4,350 crores. hence, the claim made in the post is misleading.
Organisation: FACTLY
Author: Harshavardhan Konda
Date published: 2022-08-03T14:03:08