Chandigarh, September 30
Wahid Sandhar Sugars Ltd (also known as Golden Sandhar Mills Ltd), whose three directors were arrested by the Vigilance Bureau (VB) today, owes Rs 40.71 crore to hundreds of farmers.
Around 600 farmers find themselves trapped in Kisan Credit Card (KCC) loan liabilities, with each one being held accountable for Rs 3 lakh apparently under the mill’s guarantorship.
A Vigilance spokesperson said they found during a probe that directors of the mill failed to clear outstanding dues of sugarcane farmers in the past four years.
The farmers have started receiving legal notices from IDBI Bank, Phagwara, urging them to repay KCC loans (Rs 3 lakh each). What baffles the farmers is that they have no recollection of seeking or utilising loans.
The Vigilance spokesperson said all the money would be recovered from the arrested accused.
600 Farmers get notice to repay loan
- Around 600 farmers find themselves trapped in Kisan Credit Card (KCC) loan liabilities
- Each farmer is being held accountable for Rs 3L each apparently under the mill’s guarantorship
- The farmers have started receiving legal notices from IDBI Bank, Phagwara, to repay KCC loans
Most Read In 24 Hours
Don't MissView All
Speaking at the BJP Parliamentary Party meeting, he credits ...
The swearing-in ceremony of the 56-year-old leader would be ...
His letter to the council's 15 members on Wednesday says Gaz...
The 71-year-old will replace Richard Sharp
Pranab Mukherjee saw Rahul Gandhi’s ordinance tearing act as last nail in Congress coffin: Daughter's book
To the author, the 13th President of India was Baba, a worka...