FIs ASK ARUNA SUGARS TO SELL SUGAR DIVISION
Article Abstract:
Financial institutions (FIs), led by ICICI, have told Aruna Sugars and Enterprises Ltd of Chennai to sell its sugar division. This is to be done in order to make a one-time settlement to its creditors. The company wanted to sell its four-star hotel, Quality Inn Aruna, for Rs35 crore to Asian Hotels but the FIs did not agree as it would not be enough to clear all the company's dues which is estimated at over Rs100 crore. (khr)
Comment:
Have been told by financial institutions, led by ICICI, to sell sugar div in order to make one-time settlement to creditors
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TASL ACQUIRES ARUNA SUGARS PLANT, COST PUT AT Rs100 CR
Article Abstract:
The Thiru Arooran Sugars Ltd (TASL) has taken over the sugar plant of Aruna Sugars and Enterprises Ltd for more than Rs100 crore. It took control of the plant from December 15, 1998. The 5,000 tonnes crushed per day (tcd) factory with a distillery is at Pennadam in South Arcot district of Tamil Nadu. (um)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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