our bank sanction Pledge limit to Sugar factory against Sugar stock under consortium on first charge paripasu basis.
For safety and security appointment of one organisation to maintain the rules on Godown. Simultaneously under the Sugar cane Commissioner issued factory action towards unpaid amount to farmers against purchase of sugarcane and seized total stock lying in godown & auctioned, when we as lead bank approached to district collection to claim the amount as first charge. but the DC denied to release or restric the amount deposited by sugar buyer and inform us the amount so deposited will be released to farmers first although bank is having first charge. Please guide us how we claim eligible amount being holding first charge on stock as well as on realized amount
