Mawana Sugars has agreed to enter into One Time Settlement (OTS) with Punjab National Bank (PNB) Muzaffarnagar, Uttar Pradesh. The board of directors at its meeting held on March 21, 2017 has approved for the same. The total dues amounting Rs 109.46 crore is to be settled for a consolidated agreed amount of Rs 79.79 crore, payable over 15 month without interest.
Mawana Sugars has been engaged in the business of manufacture and selling of chemicals, sugar and edible oils.