new delhi june 23 debtridden bajaj hindusthan sugar has shelved the plan to sell power business to group firm lalitpur power generation company for about rs 1200 crore even as its lenders have initiated resolution process under s4a to restructure loans the company had announced plans in december to sell its cogeneration power business having 449 mw capacity at 14 locations in uttar pradesh to lpgcl for about rs 1800 crore later the deal size was reduced to rs 1227 crore bajaj hindusthan has a debt of around rs 6000 crore in a bse filing the company informed that joint lender forum of the company has taken a decision that the loan account of the company will be taken up for consideration under the scheme for sustainable structuring of stressed assets s4a scheme introduced by the rbi bankers will evaluate and formulate the resolution plan as envisaged in the scheme for implementation it added the company also informed that the proposal for sale of cogeneration power business has been consequently shelved the entire amount of cash consideration from this deal was proposed to be utilised by the company towards advance repayment of its existing term debt bajaj hindusthan has 14 sugar mills with cane crushing capacity of 136 lakh tonnes per day and alcohol distillation capacity of 800 kilo litres per day besides sugar shishir bajajled bajaj group has interests in power ethanol real estate personal care products and infrastructure the groups power venture includes bajaj energy pvt ltd with 450 mw thermal power generation commissioned in 2012 and the lalitpur power generation co ltd with a total of 1980 mw thermal power generation capacity mjh dp sbt