Sugar Mill To Face Auction Of Its Properties 

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With the mounting cane arrears, the government seems to be stern on sugar mills. In a recent move, the district collector initiated the process to auction movable and immovable properties of a private sugar factory, New Phaltan Sugar Works Ltd, in Satara district due to a failure of clearing the pending dues of cane farmers.

According to a report published in a leading news website, the sugar mill has not made any payment to the farmers for over a year and also it has not started crushing for the current year. The mill is yet to pay dues of around Rs 4,000 crore accumulated over the years. The rule mandates that FRP amount should be deposited to the farmers’ bank accounts within 14 days after the sugarcane harvest is handed over to the factory owners.

In January, Maharashtra Sugar commissioner Shekhar Gaikwad had issued orders to district collectors to seize the sugar stocks of sugar mills or auction their movable or immovable property if they fail to pay the pending cane arrears.

Sugar cane arrears to farmers have crossed Rs 20,000 crore in the current marketing year 2018-19 (October-September).

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