Brahmavar sugar factory to be auctioned?
Unable to recover Rs 89 lakh and the interest from the Bramhavar Co-operative Sugar Factory, Brahmavar branch of SCDCC Bank has decided to go for auction.
Disclosing this to the mediapersons here on Sunday, MLA Raghupathy Bhat said “it was an unfortunate development” and appealed to the DCC Bank not to go for auctioning.
He said the process of rejuvenation of Brahmavar Sugar factory has already begun. Rami Sugars of Andhra Pradesh has come forward to rejuvenate the sugar factory.
“They have also agreed to return the remaining Rs 11 crore to the labourers, farmers and banks,” he added.
In this background, the decision of the DCC bank to auction sugar factory on March 3 is shocking.
The bank should withdraw its decision. A meeting on Brahmavar Sugar factory will be convened on February 24, he added.
