It is interesting to remember that relationship with Indian Bank has started with car loan to promoter and later Bank comes out with corporate loan to our company. The effective compliance of terms of Bank sanction, timely servicing of interest & principal amount helps company to get term loan support for setting up of 1250 TCD vacuum pan technology plant in place of earlier Khandasari unit. Subsequently, Bank continues its financial support for expansion of crushing capacity from 1250 TCD to existing 4000 TCD plant.
Indian Bank has also financed 45 K L P D Distillery & 25 MW Co-Generation plants of our Company along with term loan of Working Capital limits for meeting day to day financial obligations. On our request, Shri. M.S. Sundar Rajan, Hon. Chairman & Managing Director of the Bank has decorated Chief Guest position on company’s Distillery inauguration function & inaugurated Indian Bank branch at factory site. Since our inception Bank has supported & developed financial relationship by sanctioning loans from time to time. Further, Bank is acting as Lead Banker to Bank of India & Corporation Bank for Consortium finance arrangement which was availed for expansion of Sugar unit from 4000 TCD to 7500 TCD and Co-Gen unit up to 31MW. Further Indian bank extended financial support for expansion of sugar unit from 7500 TCD to 10,000 TCD along with SDF loan. We express our gratitude to Indian Bank for their continuous support & expect the same for upcoming days.