Mawana Sugars has received an approval for the proposal of availment of the soft loan of Rs 146 crore granted by Uttar Pradesh Co-operative Bank to clear the outstanding dues of the farmers for the crushing season 2017-18 to its units Mawana Sugars Works and Nanglamal Sugar Complex as required by the state government of Uttar Pradesh.
The Board of Directors of the company at its meeting held on November 28, 2018, approved the same. The above facility will carry rate of simple-interest 5% p.a. and the tenure of the loan is 5 years. The principal amount of the loan and interest thereon is payable in equal monthly installment starting from July, 2019 onwards.
Mawana Sugars has been engaged in the business of manufacture and selling of chemicals, sugar and edible oils.