Simbhaoli Sugars Limited
Incorporated in 1933, Simbhaoli Sugars Ltd manufactures and sells sugar and other products
What Simbhaoli files
- Others64
- Important27
- Board Meeting16
- Updates7
- Results7
Simbhaoli Sugars clarified delayed disclosure of an order from PNB Fraud Risk Management. The company cited management changes during its ongoing Corporate Insolvency Resolution Process (CIRP). This information was previously in financial results, and compliance mechanisms are being strengthened.
Simbhaoli Sugars reported total loan defaults of Rs 3464.96 Cr, including Rs 2194.57 Cr in interest, from banks/financial institutions. The company is undergoing Corporate Insolvency Resolution Process (CIRP), which is currently under stay by the NCLAT.
PNB declared Simbhaoli Sugars' Rs. 109.82 Cr loan accounts as 'Fraud' due to fund misappropriation. The company asserts no material impact, being under CIRP protection per IBC rules, which shields it from past liabilities.
Simbhaoli Sugars' latest financial results drew adverse audit opinions, highlighting unprovided interest exceeding ₹2100 Cr and impairment concerns amidst ongoing CIRP. Operations are severely impacted by cane diversions, distillery shutdowns by CPCB, and a "fraud" declaration by PNB.
Simbhaoli Sugars disclosed Q1, Q2, Q3, and FY26 financial results, which include auditor adverse opinions on its going concern status. Issues involve over ₹2,100 Cr unprovided interest, disputed claims, severe cane allocation cuts, and CPCB shutdown orders for two distilleries. NCLAT judgment on the CIRP appeal is pending.