State Bank of India begins legal proceedings against Bajaj Hindustan for continued insolvency

In India, the Free Press Journal reports that the State Bank of India has begun legal proceedings against country’s largest sugar and ethanol producer, Bajaj Hindustan Sugar, due to the company’s insolvency. The SBI and other creditors have been working to restructure the company’s debt to improve its financial solvency, which has helped, but has not yet brough it back into good health. The company’s 12 mills, all based in Uttar Pradesh, produce 38 million liters of ethanol per year but capacity is being expanded to produce around 218 million liters annually.