SBEC Sugar Ltd — Important, 03-02-2026: Company Update

SBEC Sugar Limited has reached a one-time settlement agreement with Modi Industries Limited to recover dues totaling Rs. 141.77 Crore. These outstanding amounts stemmed from SBEC previously taking on an assigned debt of Modi Industries. The transaction is between entities with common directors, qualifying it as a related party transaction conducted at arm's length. SBEC had previously nominated a representative on Modi Industries Limited's board. This settlement helps resolve long-standing financial obligations and clarifies the company's recoverable assets.