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Bank seeks ₹22 cr from state as interest for late loan repayment
Hindustan Times Pune|December 14, 2024
MUMBAI: The Maharashtra State Cooperative Central Bank (MSCCB) and the state government are at loggerheads over the outstanding amount of interest on loans given to sugar mills under the control of politicians, for which the government had stood as guarantor.
- Surendra P Gangan
Bank seeks ₹22 cr from state as interest for late loan repayment

The MSCCB has moved the Supreme Court for recovery of ₹22 crore as outstanding interest while the state government has disputed the amount and has appointed a committee to study the matter.

The Maharashtra government had stood as guarantor to loans given to 60 sugar factories and 15 spinning mills, between 2002 and 2012, under the control of politicians from Congress and Nationalist Congress Party. Many of the sugar factories failed to repay the loans taken from MSCCB, the apex cooperative bank, thus putting the onus of the repayment on the state government. The MSCCB, in 2011, moved the Supreme Court for the recovery of ₹1117.13 crore towards the outstanding loans.

هذه القصة مأخوذة من طبعة December 14, 2024 من Hindustan Times Pune.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

Bank seeks ₹22 cr from state as interest for late loan repayment
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هذه القصة مأخوذة من طبعة December 14, 2024 من Hindustan Times Pune.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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