Daijiworld Media Network – Udupi (SB)

Udupi, Feb 22: Brahmavar branch of SCDCC Bank has decided to go for auction unable to recover Rs 89 lakh and interest from the Bramhavar Co-operative Sugar Factory, said MLA Raghupati Bhat.

Speaking to media persons here on Sunday February 22, MLA Bhat urged the bank not to go for auctioning and thereby protect the interests of the farmers and people of the district.

Terming the decision to auction as an unfortunate development, MLA said the process of rejuvenation of Brahmavar Sugar Factory has already begun with Rami Sugars of Andhra Pradesh coming forward to rejuvenate the sugar factory. “They have further agreed to return the remaining Rs 11 crore to labourers, farmers and banks. In this background, the decision of the DCC bank to auction sugar factory on March 3 is shocking and is all likely as the bank has brought caveat against anylikely  stay order", he added. 

Appealing to the bank that it should  withdraw its decision, MLA said that a  meeting on Brahmavar Sugar factory will be convened on February 24, he added.