Yoga guru Baba Ramdev and his younger brother Ram Bharat and close associate Acharya Balakrishna will join the board of directors of Ruchi Soya. Ruchi Soya owns the food brand Nutrilla. Patanjali Ayurved has acquired Ruchi Soya last year. Ruchi Soya Industries Ltd. In a notice sent to shareholders, it has sought permission to appoint Ram Bharat (41) as the Managing Director of the company.
Was interested in the bankruptcy process
The notice states that Patanjali Ayurved Ltd. Divya Yoga Mandir Trust, Patanjali Transport Private Limited. And the alliance of Patanjali Village Industries had acquired the previous Ruchi Soya. After that the new management has got the right to constitute the board of directors. The interest was in the soy bankruptcy process.
Salary of one rupee to the managing director
In the meeting of the company’s board of directors held on August 19, 2020, Ram Bharat has been appointed as managing director for the same day from December 17, 2022. His post has been changed from full-time director to managing director. Now shareholders’ approval has been sought for his appointment. Bharata will be paid a salary of one rupee per annum.
Chairman Acharya Balakrishna will also get one rupee
In addition, Acharya Balakrishna (48) has been re-appointed as chairman of the company. They will also be given a salary of one rupee per year. In the notice, permission has been sought to appoint Ramdev (49) as the director of the company. Apart from these, Girish Kumar Ahuja, Gyan Sudha Mishra and Tejendra Mohan Bhasin have been appointed as independent directors. Patanjali Ayurved acquired Ruchi Soya for Rs 4,350 crore last year.