Letter: The textile industry in a struggling letter to stand up after onslaughts back-to-back from the waves of Pandemi.
When this industry is through sagging times, orders’ books are still not revived and traders find it difficult to restore delayed payments for several months.
To deal with the payment crisis and keep the business float, the trader’s body has taken new initiatives.
The Federation Welfare Committee of the Association of Letter Textile Traders (Fostta), since the second wave, has taken complaints from traders from long payment waiting for a long time and helping them get their money back.
Not only traders from the city, but those who from outside who have not been able to get money from their clients in the letter have benefited from the Fostta drive.
“More than 1,000 traders have received their money as big as crores rupees,” said Manoj Agarwal, President Fostta, added that disputes over payment took place for years.
“Instead of being entangled in the legal battle, we intervened when traders approached us.
We tried to explain to the debtor about the supplier situation,” Agarwal said, added, “In most cases, the person agreed and made a payment, but if the payment was not accelerated , We circulated the name of the person in whatsapp we group because no one else entered into the business with the merchant.
“The owner of the embroidery unit recently released merchant items after a similar pressure tactic was used against him.
“The owner of the unit returns our goods because payments are misused with several other traders.
He also has not received payments from several traders, so Fostta intervenes and removes our belongings and cleanses the problem of the owner of the embroidery unit too,” said Ashok Nahata, an arihant textile market trader , Fostta also employs lawyers to issue legal notice as the last choice.
“So far the dispute ends with legal notice and does not need to appear to approach the court,” Agarwal Toi said.
In some cases, Fostta officials have traveled to other cities to get debtors on the other side of the table for negotiations.
“I have given hope to get my money after my client in Nashik doesn’t pay for the past two years.
But when I learned about the initiative of Fostta, I gave complaints along with all my documents and payments of Rs 2.5 lakh carried out in a few weeks, “said USHAB Bagrecha, a Millennium textile market trader.
Trader’s body changes the arbitrator to clean backlog textile payments
