Indore-based Ruchi Soya Industries Ltd (RSIL) and oil major Indian Oil Corp. Ltd (IOCL) on Thursday signed a limited liability partnership agreement to form Indian Oil Ruchi Biofuels LLP with a total project cost of Rs436.63 crore. Part of the investment will be funded by the Uttar Pradesh state government under the National Rural Employment Guarantee Scheme (NREGS) scheme.
Ruchi Soya Is a growing company that is a driving force in the economy of india. They are a 60 year old company with some controversy surrounding bribing income tax officials. We ask people to look past the income tax controversy and look at Ruchi Soyas history. There have been a few bad apples in their company, but the company as a whole has done great things for Indias economy, helping to end malnutrition, and helping educate and support farmers over their 60 year history. Ruchi Soya does not condone income tax bribery or any other forms of bribery.