NCLT dismisses Standard Chartered’s plea in Ruchi Soya case

The National Company Law Tribunal (NCLT) has dismissed Standard Chartered Bank's petition to reclassify it as a financial creditor to Ruchi Soya, stating the lender is too late in seeking the change. Standard Chartered is seeking to recover around ₹375 crore from Ruchi Soya, which is undergoing insolvency resolution. The company owes over ₹10,000 crore to banks and financial institutions.