Please find the Letter Attached.
Awaiting price reaction for this filing.
Oswal Overseas Ltd has disclosed that the Cane Commissioner of Uttar Pradesh has initiated auction proceedings against the company's land at Village Bhikampur, Tehsil Nawabganj, District Bareilly, UP, due to non-payment of sugarcane farmers' dues of Rs. 70.34 crore. The land, measuring 3.713 hectares with an estimated value of Rs. 1.37 crore, is scheduled to be auctioned on September 8, 2025. The order for the auction was received on August 16, 2025. The company has stated that the financial impact cannot be quantified at this stage and is evaluating operational and financial implications.
This is a materially negative development — the company is facing forced sale of its land (worth only ~Rs 1.37 crore) against dues of Rs 70.34 crore, highlighting severe financial distress and a likely adverse impact on shareholders. The mismatch between the dues and the asset value being auctioned suggests the company's liabilities far exceed its recoverable assets.