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Vizianagaram: Officials auction sugar stock of NCS
NCS Sugarsfactory at Latchaiahpetain Seethanagaram mandal
- Chennai-based Star Shine Logistics procures sugar at Rs 3,330 per quintal
- It pays Rs 11.54 crore for sugar stock of 34,762 quintals
Seethanagaram (Vizianagaram): Wait for clearance of arrears of sugarcane famers will come to an end, as the government auctioned the sugar stock and in coming days the government is going to auction immovable assets of NCS Sugars Ltd.
The factory, NCS Sugars Ltd, located at Latchaiahpeta village in Seethanagaram mandal has shut down in March 2021 and it has RS 23.98 crore dues towards EPF, GST, excise duty and arrears to sugarcane farmers.
The farmers are yet to receive payment for their produce of the year 2019-20, 2020-21,which is around Rs16.53 crore. As the company was shut, the farmers were staging protest and appealing the government to solve their issue.
Responding to their woes, Minister Botcha Satyanarayana assured farmers that their arrears will be cleared after auctioning factory's assets and sugar stock.
The district officials seized the sugar stock and immovable assets of 19.90 acres lands of factory.
Later Parvathipuram sub collector Bhavana has conducted for the sugar stock.
As much as 34,762 quintals of sugar was bagged by Star Shine Logistics of Chennai at the price of Rs 3,330 per quintal and it paid a total amount of Rs 11.54 crore.
The sub collector said that the once the immovable property is also auctioned the government will take decision on clearing the arrears to the farmers.
