Lenders tag Bajaj Hindusthan as NPA, debt recast plan under discussion

Bajaj Hindusthan has defaulted to banks, UP farmers; says restructuring proposal is in accordance with RBI circular of June 7, 2019

Lending banks have declared Bajaj Hindusthan Sugar, one of India’s largest sugar manufacturers, a non-performing asset (NPA) after it failed to make payments related to its debt, whose gross value stood at Rs. 4,814 crore as of March this year.

The payments were due on some loans at the end of March, according to executives of two of the lenders. The company also owes money to sugarcane farmers in Uttar Pradesh, the state where all its 14 sugar mills are located. The bank executives said Bajaj Hindusthan’s credit profile has been under pressure and it has delayed payments to lenders,