Gayatri Sugars Limited updates on loan taken from Sugar Development Fund

The Govt. of India, Ministry of Consumer Affairs, Food & Public Distribution (herein after called Ministry) issued guide lines for Restructure of Sugar Development Fund (SDF) Term Loan to the eligible Companies as per terms of guidelines. Since, the Company Gayatri Sugars Limited met all the conditions of Eligibility criteria, applied for Restructure of SDF Term Loan. IFCI Ltd, (the Monitoring Institute) scrutinized the application and sent to the Ministry. The Restructure Committee appointed by the Ministry, recommended for Restructure of SDF loan to Standing Committee for consideration. The Standing committee at their meeting held on 22nd April, 2022 recommended to the Govt. of India, Ministry of Food & Public Distribution for Restructure of SDF Term Loan.

The Govt. of India, Ministry of Food & Public Distribution issued Administrative Approval (AA) on 20.05.2022, having validity of 6 months, for the company to comply with all the Terms and conditions of AA necessary for the Restructuring of SDF. The company complied all the condition stipulated in AA except registration of Memorandum of Deposit of Title Deeds due to issues in Dharani Portal. The validity of AA was extended from 20.11.2022 to 30.04.2024, with other terms and conditions unchanged including moratorium period of 24 months till 20.05.2024.

The Ministry vide letter dt 30.04.2024, notified that the restructuring of SDF Loan of Gayatri Sugars Ltd has become operative w.e.f 20.05.2022 and the SDF Loan accounts have become regular.

Shares of GAYATRI SUGARS LTD. was last trading in BSE at Rs. 19.95 as compared to the previous close of Rs. 20.99. The total number of shares traded during the day was 83817 in over 455 trades.

The stock hit an intraday high of Rs. 20.98 and intraday low of 19.95. The net turnover during the day was Rs. 1677387.00.

Source : Equity Bulls

Keywords

GAYATRISUGARS INE622E01023 SugarDevelopmentFund TermLoan