Simbhaoli Sugars invites EOI from resolution applicants under CIRP
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Simbhaoli Sugars, already under Corporate Insolvency Resolution Process since July 2024, has invited Expression of Interest from prospective buyers to revive the firm. The company runs sugar and ethanol plants across three sites in Uttar Pradesh with cane crushing capacity of 19,500 TCD and distillery capacity of 210 KLPD. FY26 sales stood at about Rs 591 crore from sugar and Rs 215 crore from distillery. Board powers remain suspended with IRP Anurag Goel managing operations. Last date for EOI is September 8, 2026, and resolution plans are due by November 5, 2026.
Existing shareholders face likely dilution or write-down. Outcome depends on resolution plan - revival or liquidation possible by end of 2026.