Ruchi Soya Slumps 9% After Creditor Files Winding-Up Petition

Shares of Ruchi Soya Industries slumped as much as 9 per cent today to Rs 21.25 after the company said that it has been "served with a copy of winding up petition filed by one of its creditors before the Bombay High Court".

Ruchi Soya said it will take "appropriate legal recourse in the matter."

The food and speciality ingredients company's Nutrela is the largest selling soya foods brand in the country.

Ruchi Soya had posted a net loss of Rs 879 crore for the financial year 2015-16 on revenues of Rs 27,735 crore. 

In May, the capital market regulator Sebi had restrained the company from "buying, selling or dealing in the securities market, either directly or indirectly, in any manner whatsoever, till further direction".

The company had a debt of Rs 4,514 crore as of March 2016. 

At 10:13 a.m., Ruchi Soya shares were down 5 per cent at Rs 21.85 as compared to a flat Mumbai market.