“Ramdev baba owned Ruchi soya company’s debt of ₹2,212 crores was waived off”
What FACTLY found
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 Ramde...
Their words, from the summary they publish with the rating.
In short
This claim spread on social media around 31 July 2022. FACTLY (India) looked into it and published its finding on 3 August 2022, 3 days later. Its rating was “MISLEADING”.
Where the claim appeared
- Facebook posthttps://www.facebook.com/permalink.php?story_fbid=pfbid0Ggvt55trfq1uutaMrNUUQcpZDrxUWxzSk…
Links recorded by FACTLY. Some posts may have been deleted since.
This check was done by FACTLY, not by DoesItStand. We list it so you can find it. Their full evidence and reasoning are in their article.