Auction of Shri Ganesh Sugar Factory halted due to intervention by Government and Bank
State Government and GSC Bank provide financial guarantee for settlement of ₹48 crore debt
By Capital Kranti desk, Gandhinagar · Editor: Parth Thakkar
8 November 2026, 1:24 pm · 1 min read
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The auction process of Shri Ganesh Khhand Udyog Sahakari Mandali, located in Vatariya in Valia taluka of Bharuch district, has been halted. The National Co-operative Development Corporation (NCDC) had issued an official notice to conduct an auction on 18 November for the recovery of outstanding dues amounting to ₹48 crore. This institution holds assets worth ₹250 crore.
To avert the crisis of the auction, the State Government, Gujarat State Co-operative Bank (GSC Bank), and the Custodian Committee made joint efforts. Vagad MLA and Chairman of Bharuch District Co-operative Bank, Arunsinh Rana, along with the Custodian Committee, established direct contact with the State Government to make a representation in this matter. GSC Bank and the State Government have provided in-principle cooperation and necessary financial guarantees for the settlement of the ₹48 crore debt, leading to the suspension of the NCDC's auction proceedings.
This decision has brought joy to thousands of farmers and members associated with the factory. According to a report by Sandesh, this news is a relief for the cooperative structure and the sugarcane-growing farmers.
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