iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

SBI moves to NCLT for insolvency proceedings against Bajaj Hindusthan Sugar

17 Aug 2022 , 01:35 PM

Following the classification of the company’s loans as non-performing assets (NPA) last month, the State Bank of India (SBI) has moved an insolvency petition against Bajaj Hindusthan Sugar.

As per a rating report by CARE Ratings dated December 24, 2021, the sugar manufacturer owes Rs6,090.58 crore to the bank. The company received an NPA tag as a result of a default on loans worth Rs4,814 crore.

Bajaj Hindusthan is one of India’s largest sugar manufacturers, having a strong network of 14 mills across Uttar Pradesh. It has an aggregate sugarcane crushing capacity of 136,000 tonnes crushed per day (TCD) and an alcohol distillation capacity of 800 kilolitres per day (KLD). The company also manufactures ethanol.

Care Ratings downgraded Bajaj Hindusthan’s loans worth Rs6,777 crore to ‘D,’ or default grade, in January 2021, citing the company’s delays in debt servicing.

The agency reaffirmed its rating in the December 2021 report, citing the company’s poor liquidity position and upcoming debt obligations as a result of significant cane dues.

Last month, FE reported that Bajaj Hindusthan owes cane farmers in Uttar Pradesh Rs2,860 crore for the current season. As of July 5, the company had only paid 35% of its total cane dues of Rs4,398 crore to farmers who supplied cane to the state’s 14 mills.

Bajaj Hindusthan Sugar’s counter hit a 52-week low of Rs8.90, against the previous close of Rs10.15 on NSE.

Related Tags

  • Bajaj Hindusthan Sugar
  • Bajaj Hindusthan Sugar Insolvency News
  • Bajaj Hindusthan Sugar News
  • Bajaj Hindusthan Sugar Updates
  • Insolvency News
  • SBI Insolvency News
  • SBI news
sidebar mobile


Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.