Operations research group, Financial services company

The country's largest lender State Bank of India has initiated insolvency proceedings against Bajaj Hindusthan Sugar Limited, the company informed the stock exchanges on Tuesday.In a regulatory filing to the stock exchanges, Bajaj Hindusthan Sugar Limited said, "We understand that State Bank of India, financial creditor through its advocate has initiated Corporate Insolvency Resolution Process of Bajaj Hindusthan Sugar Limited before the Hon'ble National Company Law Tribunal, Allahabad Bench under Section 7 of Insolvency and Bankruptcy Code 2016. This disclosure is made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015."The share price of Bajaj Hindusthan Sugar Limited slumped 5.05 per cent to Rs 10.15 at the BSE on Tuesday.Bajaj Hindusthan Sugar Limited is involved in the business of manufacturing of sugar and ethanol. It is a part of Bajaj Group (Kushagra) and is headquartered in Mumbai (Maharashtra).The company has 14 sugar plants, all located in the North Indian state of Uttar Pradesh. These include: Gola Gokaran Nath, Palia Kalan, and Khambarkhera (district: Lakhimpur Kheri), Barkhera (district: Pilibhit), Kinauni (district: Meerut), Gangnauli (district: Saharanpur), Thanabhavan and Budhana (district: Muzaffarnagar), Bilai (district: Bijnore), Maqsoodapur (district: Shahjahanpur), Pratappur (district: Deoria), Rudauli (district: Basti), Kundarkhi (district: Gonda) and Utraula (district: Balrampur).The plants have an aggregate sugarcane crushing capacity of 136,000 TCD (tonnes crushed per day) and alcohol distillation capacity of 800 KLD (kilolitres per day), as per the information available on the company's website.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Operations Research GroupFOLLOW

Operations research group, Latest News

Mumbai, Sep 19 The State Bank of India (SBI) has planned to raise up to Rs 4,000 crore, ... ...

Hyderabad, Sep 19 An engineering student went missing after investing the educational loan taken from a bank into ... ...

Mumbai, Sep 14 State-owned lender, State Bank of India (SBI) hit the Rs 5 lakh crore market capitalisation ... ...

New Delhi, Sep 13 A Delhi court on Tuesday ordered a court-monitored investigation into the over Rs 800 ... ...

Mumbai, Sep 5 State Bank of India (SBI) plans to raise up to Rs 7,000 crore, which includes ... ...

New Delhi, 19th August 2022: Along with ‘Azadi Ka Amrit Mahotsav’, this Independence Day is a celebration of the ... ...

August 18:Along with ‘Azadi Ka Amrit Mahotsav’, this Independence Day is a celebration of the Indian Investment Landscape and ... ...

The country's largest lender State Bank of India has initiated insolvency proceedings against Bajaj Hindusthan Sugar Limited, the company informed the stock exchanges on Tuesday. ...