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SC gives precedence to sugarcane farmers over banks

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New Delhi, Oct 13 :

The Supreme Court Monday said that the sugarcane farmers will have precedence over banks for the recovery of their dues from mills as they are in the state of financial distress and are prone to commit suicide.

supreme court 1An apex court bench headed by Chief Justice H.L. Dattu, while dismissing appeals by the State Bank of India and the Punjab National Bank, said that if you do not pay farmers, they will commit suicide.

The two banks have moved the apex court against the Allahabad High Court order, saying that the sugarcane farmers have the first right over the proceeds of selling sugar by the mills for the recovery of their dues.

(IANS)