Dharani Sugars and Chemicals has defaulted on loans aggregating Rs 595.32 crore to 12 lenders, including Indian Bank, State Bank of India, ICICI Bank, IREDA and Sugar Development Fund. The date of default was December 31, 2019. The default in principal and interest were Rs 514.61 crore and Rs 80.71 crore, respectively.
Dharani Sugars is engaged in the manufacture of sugar and its by-products like bagasses and molasses, industrial alcohol, co-generation of power, and export of TNEB grids. It operates in three segments: sugar, distillery and power.
