Simbhaoli Sugars Limited is hereby submitting Quarterly Disclosures by listed entities of defaults on payment of interest/ repayment of principal amount on loans from banks / financial institutions and unlisted debt securities as on 31, March 2026
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Simbhaoli Sugars Limited has disclosed a 100% default on its loan obligations. The total outstanding amount stands at Rs. 3371.35 crore, all of which is in default. This includes Rs. 2100.96 crore in unpaid interest that has not been provisioned in the financial statements. The company has been under Corporate Insolvency Resolution Process (CIRP) since July 11, 2024, after being admitted by NCLT Allahabad Bench. Currently, the CIRP is under a stay order from NCLAT dated July 24, 2024. The company's affairs are being managed by Interim Resolution Professional Mr. Anurag Goel. No unlisted debt securities are involved.
This is an extremely negative development indicating near-total insolvency. Shareholders should note that the company is in an active insolvency process and stock recovery through normal operations is highly unlikely. The stay on CIRP adds further uncertainty to the resolution timeline.