Yavatmal: Unable to take a crushing season for the third consecutive year, all the directors of Vasant co-operative Sugar mill tendered their resignation. This will affect the cane producers from five talukas in Yavatmal district. The mill situated in Umarkhed taluka is reeling with a loan amounting to Rs 120 crore and has struggling from last three years to come on track.
Three years ago, all farmer members, irrespective of their political parties, had come together and nominated the existing directors. The delegation of the directors met co-operative minister and discussed to restructure the bank’s Rs 20 crore loan out of Rs 120 crore. Cooperative Minister Subhash Deshmukh also directed to send a proposal for the same. They had applied for the loan waiver to the government on August 15. However, no action was taken on it. Meanwhile, with the announcement of the code of conduct for the assembly election, the possibility of commencing the mill in the upcoming sugar season seems faded. Therefore the board of directors have decided to resign.
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