The Allahabad High Court has ruled that sugar mill owners in Uttar Pradesh should settle most of cane arrears to farmers soon. Millers owe a total of Rs 10,000 crore , reports Business Standard.
The combined dues of cooperative, private and government mills include interest dues of Rs 260 crore.
Private mills account for the major portion of arrears (Rs 8,900 crore, including interest payable of Rs 240 crore). There are 118 operational private mills in Uttar Prades
Similarly there are 23 cooperative sugar mills and one Uttar Pradesh State Sugar Corporation that account for Rs 1,000 crore and Rs 25 crore, respectively.
The state government told the court it was considering bringing in a new policy to lift the sugar sector out of its present crisis.
