Alliance One International, Inc. (AOI): Axar Capital Buys 141,000 Shares

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of
1934
(Amendment No. 1)*

Alliance
One International, Inc.

(Name of Issuer)

Common
Stock, no par value

(Title of Class of Securities)

018772301

(CUSIP Number)

Ricardo
Mosquera, 1330 Avenue of the Americas, Sixth Floor New York, NY  10019 (P) 212-356-6137

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

February
29, 2016

(Date of Event which Requires Filing of
this Statement)

Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:

x Rule 13d-1(b)

¨ Rule 13d-1(c)

¨ Rule 13d-1(d)

^* The remainder of this cover page shall be filled
out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent
amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).

Continued on following pages

Page 1 of 10 Pages

Exhibit Index:
Page 9