Officials auction off NCS sugar stock


Seethanagaram (Vizianagaram): The wait for the clearance of the arrears of the sugar cane growers will come to an end as the government has auctioned the stock of sugar and in the coming days the government will auction the real estate assets of NCS Sugars Ltd.

The factory, NCS Sugars Ltd, located in the village of Latchaiahpeta in Seethanagaram mandal closed in March 2021 and it has dues of SR 23.98 crore towards EPF, GST, excise duty and arrears to sugar cane growers.

Farmers have yet to receive payment for their produce in the year 2019-20, 2020-21, which is about Rs 16.53 crore. While the business was closed, the farmers staged protests and called on the government to solve their problem.

Responding to their woes, Minister Botcha Satyanarayana assured the farmers that their arrears would be settled after the factory’s assets and sugar stocks were auctioned.

District officials seized the sugar stock and real estate of 19.90 acres of factory land.

Later, Parvathipuram’s sub-collector Bhavana drove for the sugar stock.

No less than 34,762 quintals of sugar were bagged by Star Shine Logistics of Chennai at a price of Rs 3,330 per quintal and he paid a total amount of Rs 11.54 crore.

The sub-collector said that once the property is also auctioned, the government will make a decision on clearing the arrears to the farmers.


Comments are closed.