Of the four parties that had submitted price bids in the revised bidding process for the assets of the mill, Sudalaguntla Hotels offered the highest price of Rs 22.22 crore, while the other parties offered Rs 20.25 crore, Rs 20.07 crore and Rs 19.18 crore.
Krebs Biochemicals, which was the highest bidder in the earlier bidding process that had been struck down by the High Court on certain technical grounds, offered Rs 20.25 crore in the revised bidding process as against Rs 18.09 crore that it offered in the earlier bidding process.
Sudalaguntla also emerged as the highest bidder in the case of Chitoor Cooperative Sugars Limited with an offer of Rs 21 crore, followed by Rs 15.49 crore from Srinivasa Distilleries and Rs 15.30 crore from Ritwik Projects. The highest offer in the earlier bidding process was Rs 18 crore by Srinivasa Distilleries.
In the case of Kovur Cooperative Sugars Limited, Nellore, there was only one bidder in the name of Vijaya Agro Products Private Limited with a purchase price of Rs 16 crore.
The same mill attracted a price bid of Rs 32.32 crore from KMC Constructions in the earlier bidding process. The state government may go for rebidding process in this case in view of the poor response in the current bidding process.
The Registrar of Cooperative Societies (RCS), advised and assisted by the Implementation Secretariat (IS), is expected to take a decision on the offers soon after consulting the state government and lenders. Meanwhile, price bids in the case of three more cooperative sugar mills will be opened on Tuesday.
