LUCKNOW: Simbhaoli Sugars Limited, booked by the CBI for defaulting on a loan and diverting funds borrowed from Oriental Bank of Commerce (OBC) to clear the dues of cane farmers, is among the top three defaulters in the sugar sector in Uttar Pradesh. The other two are the Bajaj group, which has 15 mills, and the Modi group with two mills.As per the records of the cane department, Simbhaoli is the biggest defaulter on payment of dues in the current crushing season.
Simbhaoli has three mills in UP—two in Hapur and one in Bahraich—and has been a habitual defaulter, with dues to the tune of around `570 crore to be paid to cane farmers. The company had cleared only `220 crore (44 per cent of the total dues) to them until Febraury 23. The 94 other private sugar mills have cleared around 94 per cent of their dues in the current crushing season.
Son-in-law of Punjab CM booked
Chandigarh: Political mudslinging has started after the CBI registered a case against Gurpal Singh, son-in-law of Punjab Chief Minister Capt Amarinder Singh, in an alleged bank fraud case against Simbhaoli Sugars Ltd. Apart from Gurpal, was the company’s Deputy MD, CBI has booked CMD Gurmit Singh, CEO GSC Rao, CFO Sanjay Tapriya, ED Gursimran Kaur Mann and five non-executive directors.