Simbhaoli Sugars plunges 14% after CBI registers case

Shares of Simbhaoli Sugars plunged 14 per cent on Monday after TOI reports that the CBI has filed a loan default case against the company.

The Central Bureau of Investigation (CBI) has registered a case against Ghaziabad-based Simbhaoli Sugars on charges of causing a loss of about Rs 109 crore to state-owned Oriental Bank of Commerce.

Those named in the FIR include Simbhaoli Sugar CMD, apart from unknown officials of the public sector bank.


The scrip ended the day 13.95 per cent down at Rs 14.50 on BSE. It opened at Rs 13.70 and touched high and low of Rs 15.70 and Rs 13.50, respectively.

Simbhaoli Sugars had hit a 52-week high of Rs 38.25 on April 24, 2017, and 52-week low of Rs 13.50 on February 26, 2018.