With the committee of creditors (CoC) having approved Patanjali Ayurved\u2019s `4,350 crore resolution plan for Ruchi Soya, another resolution of a troubled business appears to be in sight. In this instance, lenders have agreed to a 52% haircut on the admitted claims. The CoC is expected to place the resolution plan before the National Company Law Tribunal (NCLT) for its approval before May 7. The Patanjali plan proposes a `115-crore infusion into Ruchi Soya. Patanjali\u2019s proposal for Ruchi Soya, currently in the midst of the corporate insolvency resolution process (CIRP), received a 96% approval from CoC following a vote that concluded at 8 pm on Tuesday. One lender aware of the developments told FE on the condition of anonymity that the offer promises `4,235 crore to stakeholders. Of this, `4,053 crore will go to secured lenders against admitted claims to the tune of `8,377 crore, which works out to a recovery of 48%. Meanwhile, against admitted claims of `1,007 crore, unsecured financial creditors will receive `40 crore as part of the proposed plan, implying a haircut of 96%. State Bank of India (SBI) leads in terms of exposure, with a total debt of `1,822 crore through various instruments, including term loans and working capital loans. Other creditors to Ruchi Soya include Central Bank of India, Punjab National Bank, Corporation Bank, IDBI, ICICI Bank, Bank of India, Standard Chartered Bank \u2013 India, UCO Bank, Union Bank of India, Syndicate Bank, Bank of Maharashtra, Axis Bank, DBS Bank Singapore, Bank of Baroda, IDFC-Edelweiss ARC, Dena Bank, Karur Vyasa Bank, and HDFC Bank, among others. Hearing on the matter has been adjourned to May 7, when the tribunal is expected to take a look at the proposal. Ruchi Soya Industries was admitted into the corporate insolvency resolution process (CIRP) on December 15, 2017, based on application of financial creditors Standard Chartered Bank and DBS Bank, under the provisions of Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). A food and agri products company, Ruchi Soya owns several brands such as Nutrela, Sunrich, Mahakosh, Ruchi Gold and Ruchi Star. The company posted a net profit of `6.30 crore in Q3FY19 against a loss of `1,956.60 crore in Q3FY18. The company reported a `44.61-crore profit for nine months ended December 2018 against a loss of `5,125.55 crore for nine months ended December 2017. The CoC met twice consecutively last week to discuss and finalise technical aspects of the resolution plan before the voting process begun. Meanwhile, there has been no decision yet on forfeiture of the `50-crore earnest money deposit paid by Adani Wilmar on account of its withdrawal from the process in January, citing a delay in the resolution process. Back in August, more than 96% of the creditors had reportedly voted in favour of Adani Wilmar's resolution plan for the insolvent Ruchi Soya that included a payment of `4,300 crore to financial creditors and around `1,700 crore equity infusion in the company. However, in January Adani Wilmar, which had been selected as the highest bidder for Ruchi Soya Industries, informed the Mumbai bench of NCLT of its decision to withdraw the proposed resolution plan citing delays in the corporate insolvency resolution process.