Nov 01, 2007, 08.53 AM IST | Source: Business Line

UP sugar mills get respite on cane arrears

Sugar mills in Uttar Pradesh have been granted a major reprieve, with the Allahabad High Court permitting them to discharge 25 per cent of their outstanding cane arrears within 5-6 weeks time.

New Delhi, Oct. 31

Sugar mills in Uttar Pradesh have been granted a major reprieve, with the Allahabad High Court permitting them to discharge 25 per cent of their outstanding cane arrears within 5-6 weeks time.

A two-member bench, comprising Mr Justice Amitava Lala and Mr Justice V.C. Mishra, on October 30 permitted Triveni Engineering , DCM Shriram Industries (Daurala unit), Simbhaoli Sugars , Mawana Sugars , Daya Sugar and Tikaula Sugar Mills to clear 25 per cent cane arrears within six weeks.

Mills belonging to the KK Birla Group, Balrampur Chini , Dalmia Cement Bharat and Seksaria Biswan Sugar Factory were similarly given a five-week period for discharging 25 per cent of their arrears by a separate Lucknow bench under Mr Justice A.N. Varma and Mr Justice S.N. Shukla on October 29. Bajaj Hindusthan Ltd , too, had obtained a separate stay against recovery proceedings on making a lump-sum payment of Rs 20 crore.

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Balrampur Chini stock price

On April 21, 2014, Balrampur Chini Mills closed at Rs 55.60, up Rs 1.30, or 2.39 percent. The 52-week high of the share was Rs 62.45 and the 52-week low was Rs 34.60.


The latest book value of the company is Rs 54.04 per share. At current value, the price-to-book value of the company was 1.03.

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