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Allahabad HC orders CBI probe against seven banks for loans to defaulter firm

The Allahabad High Court has directed the CBI to probe how seven banks sanctioned multiple loans to a company despite knowing that it had defaulted in the payment of its previous loans."Simbhaoli Sugars, the company based in Uttar Pradesh, .

Uttar pradeshJustice mahesh chandra tripathiJustice prashant kumarAllahabad high courtPunjab national bankNon performing assetState bankOriental bankSimbhaoli sugarBanking securityFraud cellMoney laundering actEnforcement directorate

Allahabad High Court orders CBI probe against officers of seven banks for sanctioning loans to defaulting company

The Court also found that company had not paid sugarcane dues to the farmers, with ₹279 crores outstanding for the last crushing season. It slammed the Cane Commissioner for not taking any action.

Uttar pradeshJustice prashant kumarJustice mahesh chandra tripathiPunjab national bankNon performing assetState bankOriental bankSimbhaoli sugarAllahabad high courtCbi probeAllahabad hcLoan fraud caseSeven banks loanJustice mahesh chandra tripathiShocking caseUttar pradesh news

Suresh Rana: UP s sugarcane area to rise for 5th straight year, says minister Suresh Rana

Suresh Rana: UP s sugarcane area to rise for 5th straight year, says minister Suresh Rana
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Uttar pradeshSuresh ranaSamajwadi partyBahujan samajwadi partyBajaj hindustan sugarSimbhaoli sugarஉத்தர் பிரதேஷ்சுரேஷ் ராணாசமாஜ்வாதி கட்சிபகுஜன் சமாஜ்வாதி கட்சிபஜாஜ் ஹிந்துஸ்தான் சர்க்கரைசிம்பாலி சர்க்கரை

Sugar stocks hit upper circuit as govt focuses on ethanol blending

A gazette notification by the Oil Ministry directed oil companies to sell ethanol-blended petrol with a 20 per cent ethanol as per the Bureau of Indian Standards specifications with effect from April 2023.

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