Simbhaoli Sugars Limited News and Updates

Keep track of all breaking news on Simbhaoli Sugars Limited from all sources in a single place.

12 Jul 2024, 08:48PM

NCLT orders initiation of insolvency proceedings against Simbhaoli Sugars

Business Standard

The National Company Law Tribunal (NCLT) has ordered initiation of insolvency resolution proceedings against Simbhaoli Sugars Ltd on a petition filed nearly six years ago. The plea was filed in September 2018 by erstwhile Oriental Bank of Commerce which has been merged with state-owned Punjab National Bank (PNB) now. The lender had sought initiation of Corporate Insolvency Resolution Process (CIRP) against the company under section 7 of the Insolvency and Bankruptcy Code. "... petition has been admitted by the NCLT, Allahabad Bench vide order dated July 11, 2024," Simbhaoli Sugars said in a filing to stock exchanges on Friday. NCLT has appointed Anurag Goel as interim resolution professional. With the NCLT ruling, the company's board stands suspended and it would be run by Goel. According to the application filed before the NCLT, the default amount stood at over Rs 130 crore as of November 22, 2017. A leading sugar company, Simbhaoli sells sugar under the brand 'Trust' and has ..

Simbhaoli Sugars Limited

01 Aug 2019

UP sets August 31 deadline for mills to settle Rs 8,200 crore cane arrears

Business Standard

Bajaj Hindusthan, Simbhaoli among top defaulters in setting farmers' dues

Simbhaoli Sugars Limited

02 Jul 2019

Bank loan fraud: ED attaches 110-cr assets of Simbhaoli Sugars

Business Line

It is alleged that the company has diverted the loan funds intended for farmers

Simbhaoli Sugars Limited

27 Sep 2018

Five things to watch out for today

Business Line

The NSE will shift 15 firms to the restricted trading category as part of surveillance review. The firms are Simbhaoli Sugars, Mawana Sugars, Sakthi S

Simbhaoli Sugars Limited

01 Mar 2018

CBI questions Punjab CM's son-in-law in Rs 978-mn Simbhaoli Sugars scam

Business Standard

The bank was allegedly cheated to the tune of Rs 978 million, but the loss incurred by the bank is Rs 1.09 billion

CBI quizzes Amarinder's son-in-law in Simbhaoli scam case

Economic Times | 01 Mar 2018 1 more

Simbhaoli Sugars Limited

27 Feb 2018

OBC fraud: Simbhaoli Sugars says committed to clear all dues, stock closes 10.92% higher

Business Today

The CBI has registered a case against the company, its chairman Gurmit Singh Mann, deputy MD Gurpal Singh and others in connection with the alleged bank loan fraud of Rs 97.85 crore.

Simbhaoli Sugars stock surges 16%

Business Line | 27 Feb 2018 9 more

Simbhaoli Sugars Limited

20 Jun 2016

Cane dues may hurt sugar stocks

Business Line

Shares of Simbhaoli Sugars and Bajaj Hindusthan may come under pressure on reports that Minister of State for Agriculture Sanjeev Kumar Balyan said they are among wilful defaulters in the matter of ...

Simbhaoli Sugars Limited

23 Nov 2015

Simbhaoli Sugars to merge with its arm

Business Line

Tuesday will be the last day for investors of Simbhaoli Sugars to get shares of Simbhaoli Spirits. According to a scheme of amalgamation, Simbhaoli Sugars will be merged with Simbhaoli Spi...

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