Mumbai: The Maharashtra Government ridden by debt has formed a high-level committee led by the Main Secretary (Financial Reform) Rajgopal Deora to develop an action plan for almost RS 3,000 Crore to Bank Cooperative Bank Mumbai (MSCB), Bank Mumbai, Bank Mumbai, Bank Mumbai , Bank Mumbai, Bank Mumbai and Cooperative Bank Central Cooperative and Osmanabad and Osmanabad.
It was found that 57 cooperative sugar factories had taken loans from these banks and failed to pay loans.
Because the project is not feasible, the state government has stood the loan guarantor.
As a result, now you have to pay a loan.
In addition, extraordinary loans against cooperative spinning plants reached Rs 800 Crore.
Sooner or later, the government must pay that amount to the cooperative bank.
Commissioner of Sugar Shekhar Gaikwad, Commissioner of Cooperation Anil Kawade, and MSCB Vidyadhar Anaskr course, Mang Deshmukh and Director of Joint Mangesh Titkare is another member of the Committee founded by the Ministry of Finance on July 22.
The committee has been asked to submit a report on loan payments within three months.
“The state must pay the amount of loan with interest – Rs 2,500 Crore to MSCB, Rs 350 Crore to Bank Mumbai and Rs 150 Crore for the Centil Centiles and Osmanabad Cooperative Bank,” said an official.
This is not the first time such a situation appears.
In 2011, too, MSCB had knocked the door of the Supreme Court for the recovery of RS 2,029 Crore when cooperative sugar factories failed to pay for loans.
So, too, the state has stood guarantor.
The Supreme Court has been on June 29, 2019, asks the state to pay Rs 1,049 Crore Tothe MSCB.