Vasant sugar factory revival meeting:
The Vasant co-operative sugar factory Kasoda shareholders, employees and well-wishers met yesterday at Vankotha (Erandol) to discuss strategy on revival of the factory and JDCC Bank stand on auctioning the same. Major concerns are JDCC Bank dues and few creditors’ dues and hence the group focussed on two working options in the reference. This included onetime settlement and following focussed evaluation based action as bank still has one year time for coming out of NPA. Selling factory at this stage would paralyse co-operative movement and would hurt large number of employees and shareholders. Hence bank should have preference of 15-20 years of long term lease for rejuvenating the factory.
If other options not working, bank should equally consider sugarcane producing member farmer’s due 8 Crores, worker’s 44 Crores and other outstanding dues in equal consideration and have most of sugarcane of the area utilised before selling. Bank is yet to revert on this aspect.
The Vasant co-operative sugar factory Kasoda shareholders, employees and well-wishers met yesterday at Vankotha (Erandol) to discuss strategy on revival of the factory and JDCC Bank stand on auctioning the same. Major concerns are JDCC Bank dues and few creditors’ dues and hence the group focussed on two working options in the reference. This included onetime settlement and following focussed evaluation based action as bank still has one year time for coming out of NPA. Selling factory at this stage would paralyse co-operative movement and would hurt large number of employees and shareholders. Hence bank should have preference of 15-20 years of long term lease for rejuvenating the factory.
If other options not working, bank should equally consider sugarcane producing member farmer’s due 8 Crores, worker’s 44 Crores and other outstanding dues in equal consideration and have most of sugarcane of the area utilised before selling. Bank is yet to revert on this aspect.
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