MINISTER OF STATE FOR TEXTILES (SHRI GINGEE N. RAMACHANDRAN)
(a) There is only one sugar mill namely Ganesh sugar Mill, Anand Nagar, Pharinda, District Maharaj Ganj, UP, a unit of Swadeshi Mining and Manufacturing Co. Limited (SMMCL) which is a subsidiary of NTC (UP). The unit had 755 employees on roll.
(b) Losses suffered as per audited accounts for the year 1996-97, 1997-98, and 1998-99 are given below:-
Year Net Loss (Rs. in lakhs)
1996-97 352.79
1997-98 380.00
1998-99 466.65
(c) The SMMCL became a sick company under the provisions of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) and was referred to BIFR in 1996. In the absence of any viable proposal for reviving the company, BIFR recommended winding up of the company. On 29.9.99 the Allahabad High Court issued orders for winding up of the company and appointed official liquidator.
(d) The number of workers affected due to closure of the mill was755 as on 29.9.1999, the date of issued of orders for liquidation of the company (including the mill) & appointment of Official Liquidator by the Allahabad High Court.
(e) The Company including the sugar mill is under liquidation, since further steps for the re-opening and revival of the unit were not feasible. The official liquidator has to take further action as per provisions of the Companies Act.
