NCLAT rejects DBS Bank's plea challenging distribution of funds from Ruchi Soya resolution plan

DBS Bank has extended financial debt amounting to USD 50 million (around Rs 243 crore) to Ruchi Soya and had secured as a sole first charge on fixed assets of the debt-ridden firm at Baran, Guna, Daloda, Gadarwara, Mumbai and Kandla. During the insolvency proceedings, RP had admitted claims of Rs 242.96 crore of DBS Bank.

from Banking/Finance-Industry-Economic Times https://ift.tt/2KFl5Op