Bajaj Hindusthan - Updates
Bajaj Hindusthan Ltd has informed BSE regarding the news item reported in the newspaper dated June 09, 2008.
“The Company has complied with the orders of the Hon. High Court and Hon. Supreme Court for the Sugar Season (SS) 2006-07 and SS 2007-08 in connection with cane pricing.
The Company has paid all dues to the farmers for cane purchased during SS 2006-07. Substantial amount of payment has been made for cane purchased during SS 2007-08. The balance will be paid shortly and the Company will meet with its obligations as directed by the Hon. Supreme Court. Farmers however, are expecting the mills to pay more than the rate prescribed by the Courts, which is untenable.
We have cordial relation with farmers built over decades of our association. We are continuously in dialogue with the farmer representatives and local authorities and are reasonably confident that the farmers will appreciate our view and the agitation will be withdrawn shortly.
The sugar season had successfully concluded and currently there are no sugar operations running at Kinauni. However because of the agitation, dispatches have been temporarily affected.”
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