The Company ahs entered in to an agreement with Modi Industries Limited as one time settlement of dues recoverable from Modi Industries Ltd.
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SBEC Sugar has signed a one-time settlement agreement with Modi Industries Limited on 3rd February 2026 to recover outstanding dues totalling Rs. 141.77 crores (Rupees One Hundred Forty-One Crores Seventy-Seven Lakhs Thirty-Eight Thousand Five Hundred Forty-Eight only). The dues relate to a debt originally belonging to Modi Industries that was earlier assigned to and taken on by SBEC Sugar Limited. The transaction qualifies as a related party transaction because both companies share common directors, though SBEC confirms it has been carried out at arm's length. SBEC had previously nominated its representative, Mr. Vivek Singh (Advocate), on Modi Industries' board to protect its interests.
This settlement clears a long-pending recovery of around Rs. 141.77 crores, which is a significant positive for SBEC Sugar's balance sheet if the amount is realised as agreed. Shareholders should watch for actual receipt of funds and whether the settlement value is booked fully or with any haircuts, as that will determine the real earnings impact.