Uttar Pradesh: Sugars UP units receive anti-corruption notices over agent transactions
Mawana Sugars Ltd announced that its Nanglamal Sugar Complex and Mawana Sugar Works units in Meerut, Uttar Pradesh, received notices from the Anti-Corruption Branch of Delhi’s government. The notices seek details about sugar purchase transactions involving a company agent linked to alleged fraudulent GST refund claims by bogus firms in collusion with GST officials. Mawana Sugars disclosed the development voluntarily despite no regulatory requirement. Its stock closed at ₹102.90, up 0.15% on the BSE.
Mawana Sugars Ltd on Monday (December 16) disclosed that its Nanglamal Sugar Complex and Mawana Sugar Works units, located in Meerut, Uttar Pradesh, have received notices from the Anti-Corruption Branch of the government of the National Capital Territory of Delhi.
“The exchanges is hereby informed that the Nanglamal Sugar Complex, Nanglmal, Meerut (U.P.) and Mawana Sugar Works, Mawana, Meerut (U.P) (units of the Company) have received notices dated 15.12.2024 from the AntiCorruption Branch, Government of National Capital Territory of Delhi, seeking information regarding transactions done by an agent of the Company in the purchase of sugar,” Mawana Sugars said in a regulatory filing.
The notices, dated December 15, 2024, seek information about transactions involving an agent of the company in sugar purchases. The agent’s name surfaced during an investigation into accounts linked to gross GST refunds claimed by bogus firms allegedly in collusion with GST officials.
“The agent’s name appeared during the screening of accounts in relation to gross GST refunds taken by Bogus Firms in connivance with officials of the GST Department,” it said.
While not mandated to disclose the development under SEBI’s listing obligations and disclosure requirements, Mawana Sugars has shared the information voluntarily as a measure of abundant caution.
Shares of Mawana Sugars Ltd ended at ₹102.90, up by ₹0.15, or 0.15%, on the BSE.
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Source : CNBC Tv 18
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