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Suudalagunta Sugars Given November 30 Deadline to Clear Dues
The Tirupati district administration has ordered Suudalagunta Sugars to clear sugarcane farmers’ dues by November 30.
The company must submit a detailed repayment roadmap within a week and provide a notarised affidavit.
Management is considering two installments of ₹15 crore each, with the first potentially paid by the end of October.
The administration requested unit-wise details of amounts owed to farmers, harvesting workers and others at Srikalahasti and Podalakur.
The company plans to pursue the sale of the Podalakur plant and, if necessary, land in Nellore and Srikalahasti to fund repayments.
- Who
- Suudalagunta Sugars, the Tirupati district administration led in the meeting by Collector Venkateswar, sugarcane farmers, harvesting workers and other creditors.
- What
- The administration set a November 30 deadline for Suudalagunta Sugars to clear farmers’ dues and required a written repayment plan and notarised affidavit.
- Where
- The matter concerns Suudalagunta Sugars’ Srikalahasti and Podalakur units in the Tirupati district area, along with land in Nellore and Srikalahasti.
- When
- The decision was made at a Monday meeting; the repayment deadline is November 30, with the first proposed installment potentially due by the end of October.
- Why
- The administration said long-pending farmers’ dues must be prioritised and must not be delayed by the company’s financial and asset-related problems.
District Administration
Suudalagunta Sugars Management
Repayment priority and certainty
District Administration
The administration said farmers’ long-pending dues must be prioritised and that verbal assurances would not be accepted; it demanded a dated installment plan and repayment by November 30.
Suudalagunta Sugars Management
Management said it was examining two ₹15 crore installments, was working to mobilise funds and was pursuing asset sales to finance repayment.
Asset sales if payments fail
District Administration
The administration required the company to use asset-sale proceeds for repayment if the dues could not be cleared within the 60-day period.
Suudalagunta Sugars Management
Management said it would sell 50 acres in Nellore and unencumbered land in Srikalahasti if necessary, while first seeking approvals for the Podalakur plant sale.
Key facts
- Payment deadline
- November 30
- Proposed repayment
- Two installments of ₹15 crore each
- Potential first payment
- By the end of October
- Required documents
- A detailed repayment roadmap and notarised affidavit
- Units covered
- Srikalahasti and Podalakur
- Potential funding source
- Sale of the Podalakur plant and specified land holdings
- Advance already paid
- ₹2 crore paid to the bank toward the sale process
Sources
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