One-time settlement scheme for poultry institutes to clear dues

The Maharashtra government has launched one-time settlement of dues of Rs 146 crore by 70 cooperative poultry institutes assisted by the National Co-operative Development Corporation.

There are in all 73 cooperative poultry institutes of which 3 have repaid their entire loan while 13 are fully functional, 26 are closed and 31 are under liquidation. These institutes could get the loan because of the state government’s guarantee.

An Animal Husbandry Department officer told Free Press Journal, “As on March 31, 2020, 70 institutes have to clear dues of Rs 146 crore to the state government. Of the Rs 146 crore, Rs 88.33 crore from the closed institutes, Rs 52.83 crore from those under liquidation and Rs 25.15 crore from the operating institutes. Institutes with arrears towards interest of Re 0 to Rs 150 for 14 years since its inception can get 50 per cent rebate and for institutes with Rs 151 and plus will get 40 per cent rebate in interest payment.

According to the government notification, the institutes going in for the one-time settlement scheme can continue to do poultry business by joining hands with experienced organisations. However, these institutes cannot sell their property without government approval for 10 years.

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Free Press Journal