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Mawana Sugars Defaults on Bank Loans, Others May Follow
09 Oct 2014, 07:05 PM IST i

Mumbai: Plunging sugar prices have forced at least one sugar mill to default on bank loans and could drive others to do the same, the latest sign of the heavy toll a four-year-old supply glut in the country is taking on producers of the sweetener.
Mawana Sugars Ltd, one of the country's largest sugar mills, has defaulted on Rs 250 crore ($40 million) of outstanding loans from a consortium of lenders, according to an official fro...
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