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Shree Renuka’s Brazilian Subsidiary has filed for protection

According to Shree Renuka Sugars, its Brazilian subsidiary Shree Renuka do Brasil Participacoes (SRDBPL), together with all of its subsidiaries has filed for protection under Judicial Recovery in Sao Paulo court.

Renuka do Brasil S.A. which is located in the state of Sao Paulo and Renuka Vale Ivai SA which is located in the state of Parana, are the two major subsidiaries of SRDBPL in Brazil.

According to the release, “The underlying operating business has been quite steady this year in these companies with combined cane crushing of 5-7 million tonne till September 27, 2015.”

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