Reuters.Bajaj Hindusthan Sugars, an integrated sugar and ethanol manufacturer, has successfully reduced its debt from Rs 4,500 crore to Rs 500 crore, leading to the dismissal of an insolvency petition against the company. The National Company Law Tribunal (NCLT) approved the withdrawal of the petition by the State Bank of India (SBI), following a significant decrease in the company’s outstanding debt.
The insolvency petition, originally filed due to Bajaj Hindusthan Sugars’ substantial debt to a consortium of lenders led by SBI, was officially dismissed on October 25. SBI’s share of the original debt was Rs 1,100 crore. The decision came after Bajaj Hindusthan Sugars cleared overdue amounts and pledged to address future overdues w…
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