Shri Balaji Sakhar Karkhana, Risod

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Justice Zaka Haq directed the commissioner and State Cooperatives Department to start proceedings against the alleged defaulters as per Section 88 of Maharashtra Cooperatives Societies Act, 1960. It included conducting enquiry and fixing liability for recovery of Rs60 crore from them.
Balaji Sakhar Karkhana in Risod in Washim started in year 2000. They availed a loan of Rs7.5 crore for from Maharashtra State Cooperative Bank (MSCB). Soon, the mill started suffering losses and went into bankruptcy. The directors then sold the company to a Nagpur-based liquor firm for Rs 5.5 crore but without seeking MSCB's consent.
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Coordinates:   20°5'20"N   76°52'47"E
This article was last modified 7 years ago