Salima Sugar Limited has welcomed the courtroom’s choice to unfreeze its financial institution accounts, describing it as a “great relief.”
The ruling, made by High Court Judge Jabber Alide, vacates an injunction that had frozen the corporate’s accounts, permitting Salima Sugar to entry its funds and resume operations.
According to the ruling, Salima Sugar should file and serve its protection to the claimant, Mukteshwar Sugar Mills Limited, inside 14 days.
The firm’s Executive Chairman, Wester Kossam, expressed his happiness with the courtroom’s choice, stating that it might allow the corporate to pay its sugarcane growers and buy important objects, resembling chemical substances, wanted for sugar manufacturing.
“The freezing of our accounts almost suffocated us,” Kossam stated.
“We couldn’t breathe, and all our operations were almost brought to a halt by this injunction.”
“With this ruling, we will be able to pay our sugarcane farmers and meet our other crucial obligations,” Kossam added.
Kossam additionally expressed hope that the corporate would begin the brand new manufacturing season on a optimistic notice, with growers eagerly working with the corporate to produce sugarcane for sugar manufacturing.
Salima Sugar, a government-owned firm, has seen a rise in sugar manufacturing in recent times, with 21,000 tonnes produced over the last season.