Mawana Sugars provides update on debt restructuring

Initiates debt restructuring with Edelweiss Asset Reconstruction Company

Mawana Sugars announced that in its meeting held on 21 March 2016, the Board of Directors, has considered a process of restructuring its principal debt liabilities to lenders/ARC and has started such a debt restructuring program with Edelweiss Asset Reconstruction Company which had taken over the debts of the company owed to State Bank of India and State Bank of Travancore. Under this program, the total settlement amount shall be payable over a period of eight years.

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