Simbhaoli Sugars independent director Jag Mohan Seth resigns

Crisis-hit Simbhaoli Sugars today said its independent director Jag Mohan Seth has resigned from the company.

Simbhaoli is in the thick of about Rs 100 crore bank loan fraud.

In a regulatory filing, the company informed that "Jag Mohan Seth, independent director, has given resignation from the directorship and ceased to be a director on the board of the company with effect from March 1, 2018."

Last month, the CBI registered a case against Simbhaoli Sugars, its Chairman Gurmit Singh Mann, Deputy Managing Director Gurpal Singh and others in connection with an alleged bank loan fraud of Rs 97.85 crore.
 

Simbhaoli Sugars Ltd is a leading sugar mill in the country.