Mumbai: Maharashtra Government is planning to
introduce a `one time settlement` scheme to pay off loans
availed by cooperative sugar factories in the state.
"A one time settlement scheme would be introduced for the
cooperative sugar factories in the state to pay off their
arrears," Cooperatives Minister Harshwardhan Patil informed
the Legislative Council today.
Altogether 15 such sugar cooperatives owe banks Rs 888
crore and six have been served seizure of property notices,
Patil said.
Considering bankruptcy of some cooperative banks who lent
heavily these factories, the Government is planning the one
time settlement and the scheme would be announced soon, he
said.
Shiv Sena MLC Diwakar Raote raised the issue of the
factories evading repayment of loans and wanted to know what
action has the Government taken against them.
PTI
