Till now we have seen what are the reasons for Ruchi's downfall, now we will look at some more further which were waiting for Ruchi.
TROUBLES
In 2016, IDFC bank filled a petition against Ruchi Soya after it failed to repay its short term credit. In 2017, company got insolvency and bankruptcy notice and even share prices fell from Rs. 93 to Rs. 25
FINANCIAL & CORPORATE SUPPORT
Ruchi tied up with Patanjali and started supplying for it even invested some crores in it. Due to this, Ruchi once again came back on track and started gaining profit. It gained profit for about 8 months.
REITERATIVE LOSS
After running 8 months on track Ruchi Express again derailed. Due to excess monsoon followed by 2 droughts drastically brought down the soya cultivation. Import of oil from Malaysia and Indonesia and some unfavorable government policies added much woes to it.
SHADOW OF DARKNESS
Fall in global prices of castor seeds made NCDEX to suspend future trading. SEBI also barred Ruchi for fraudulent and manipulative trading castor seeds. Due to this , large part of of their net worth got eroded and Ruchi couldn't restore its position in the market
pic source: google
TROUBLES
In 2016, IDFC bank filled a petition against Ruchi Soya after it failed to repay its short term credit. In 2017, company got insolvency and bankruptcy notice and even share prices fell from Rs. 93 to Rs. 25
FINANCIAL & CORPORATE SUPPORT
Ruchi tied up with Patanjali and started supplying for it even invested some crores in it. Due to this, Ruchi once again came back on track and started gaining profit. It gained profit for about 8 months.
REITERATIVE LOSS
After running 8 months on track Ruchi Express again derailed. Due to excess monsoon followed by 2 droughts drastically brought down the soya cultivation. Import of oil from Malaysia and Indonesia and some unfavorable government policies added much woes to it.
SHADOW OF DARKNESS
Fall in global prices of castor seeds made NCDEX to suspend future trading. SEBI also barred Ruchi for fraudulent and manipulative trading castor seeds. Due to this , large part of of their net worth got eroded and Ruchi couldn't restore its position in the market
pic source: google
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