Friday, Jul 15, 2005
Friday, Jul 15, 2005 |
| Other States | ||||
|
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts: Classifieds | Employment | Obituary | Other States
-
Madhya Pradesh
BHOPAL: The Madhya Pradesh Government will soon set up a special court to facilitate recovery of loans to the tune of Rs. 370 crore given to industries by the State Industries Development Corporation (MPSIDC). The Law Department would take necessary action for setting up the special court for recovery of loans together with interest, which has now risen to Rs. 532 crore, an official release said here on Thursday.
Corporation
During the previous Congress regime, the Corporation had given loans to about 25 industries without any guarantee, it said adding, seven of these industries have reached an agreement with MPSIDC to repay loans worth Rs 112 crore. The case of sanctioning loans by the Corporation to industries without guarantee was handed over to the State Economic Offences Wing (EOW) about a year ago, but there is no noticeable progress yet in recovery of loans, it said. The EOW is also investigating the authorities, which had sanctioned loans, it said adding, action would be initiated to seize the passports of concerned industrialists. The Corporation had borrowed from cooperative institutions of Maharashtra, IDBI Bank and through bonds to distribute loans to industries and even mortgaged its building, it said. Cooperative institutions of Maharashtra had filed cases in the courts to recover loans from MPSIDC while separate cases were also filed against it as cheques issued by it to repay loans to the lending institutions were bounced, it said. Considering the situation, special court would be set up for recovery of loans.- PTI
Printer friendly
page
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
|
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu
|
