Sangareddy: Delay in payment of bills, govt to auction Trident Sugar factory
In a statement, Sangareddy Collector M Hanumantha Rao said that the management of Trident Industries failed to pay the arrears of the 2019-20 crushing season to farmers
Sangareddy: The Sangareddy district administration decided to auction the Trident Sugar Industries at Zaheerabad as the management had failed to pay the pending bills to the tune of Rs 11.5 crore to 840 farmers.
In a statement, Sangareddy Collector M Hanumantha Rao said that the management of Trident Industries failed to pay the arrears of the 2019-20 crushing season to farmers. Though Finance Minister T Harish Rao and officials held several meetings, the management which promised to clear all the dues, could not keep its promise, forcing the government to opt for auctioning of the company.
Assistant Cane Commissioner M Ravindar told Telangana Today that the Trident Sugar Industries had crushed 1.10 lakh tonnes of sugarcane belonging to 1,708 farmers during the 2019-20 season and did not pay Rs 11.5 crore to 840 farmers. Since the auction is expected to fetch over Rs 100 crore, the government will clear all the arrears of the farmers after completing the auction.
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