Sugarcane farmers demand amendment to bankruptcy law

158

Puducherry: Sugarcane farmers are upset as they are yet to receive sugarcane arrears. Cane growers belonging to three organisations demanded to change their status from operational creditors to priority creditors by amending Insolvency and Bankruptcy Code (IBC).

The farmers under the banner of Consortium of Indian farmers’ Associations, Federation of Tamil Nadu and Pondi State Private Sugar mill Cane Growers’ Associations and the South India Sugar Mill Cane Growers Association launched protest for their demand to make changes with retrospective effect from 2016 when IBC came into force.

According to the federation, four private sugar mills including two from Cuddalore district and one each in Thanjavur and Nagapattinam owe Rs 100 crore to farmers from 2016.

To Listen to this News click on the play button.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here