Indian yoga guru Swami Ram Dev, his younger brother Ram Bharat and Acharya Balkrishna close aide of Ram Dev will be on the board of Ruchi Soya Industries Ltd. which was acquired by Patanjali Ayurved in 2019.
The soya food brand Nutrela-maker, Ruchi Soya in a notice to shareholders sought the approval for the appointment of Ram Bharat as the Managing Director of the company. Subsequent to a consortium of Patanjali’s company including the Patanjali Ayurved Ltd., Divya Yog Mandir Trust, Patanjali Parivahan Pvt Ltd., and Patanjali Gramudhyog acquired Ruchi Soya in insolvency proceedings last year, with that the new management got right for the board’s appointment, the notice said.
“The board of directors of the company at its meeting held on 19 August 2020 appointed Shri Ram Bharat as Managing Director of the company with effect from 19 August 2020 to 17 December 2022 and his designation was changed from whole-time director to managing director,” it said.
Now, after the shareholders’ approval is being sought for the appointment, Baba Ram Dev’s brother Bharat will be paid a salary of Re 1 per annum. Also, Acharya Balkrishna has been re-designated as the Chairman of the company and will be getting a salary of Re 1 per annum. The notice also sought the appointment of Baba Ram Dev as a Director on Ruchi Soya’s board.