KOLKATA: Patanjali Ayurveda owned Ruchi Soya Industries is restructuring its management currently. After appointing Sanjeev Asthana as its chief executive officer in July 2020, the company has appointed Ram Bharat as its managing director who also serves as whole-time director of the company. 

Bharat will acquire the position of managing director from 19 August 2020, according to a regulatory filing. Acharya Balkrishna has resigned as managing director of the company with effect from 18 August 2020 due to his “pre-occupation”. He has been now designated as non-executive non-independent director. Asthana, the CEO of the company, has been appointed as the Key Managerial Personnel of the Company with effect from 19 August 2020.  

Ram Bharat is the low-profile younger brother of Swami Ramdev who has been engaged with day-to-day operations of Patanjali Ayurveda for a long time. “ Ram Bharat, whole-time director of the Company has been designated as managing director of the Company with effect from 19 August 2020 till 17 December 2022, not liable to retire by rotation, other terms, and conditions remaining the same subject to the approval of members of the Company,” the company stated in the filing.

Patanjali Ayurved acquired Rs 4,350 crore to take over debt-ridden Ruchi Soya through an insolvency process last year. The former won the bid after Adani Wilmar withdrew from the race citing significant delays in the resolution process.