Maharashtra’s six cooperative sugar mills have secured a loan of Rs 549.54 crore from the National Cooperative Development Corporation (NCDC). The loan allocation by NCDC includes Rs 113.42 crore for Shankar Mill located in Malshiras taluka and Rs 126.38 crore for Bhima Sugar Mill located in Mohol taluka.
While disbursing the loan, NCDC has imposed certain conditions on the sugar mills. The NCDC has mandated that if cooperative sugar mills, along with all cooperative societies, intend to borrow the loan, they must appoint a director on the cooperative societies. Until the repayment of the debt is complete, NCDC officials will inspect the factories every six months. The directorate board will have to obtain collective guarantees for loan repayments and provide collateral. If the mill fails to make the installment payment for the loan, the directorate board will be dissolved, and the government will take over the mill within a month.
sir
Nice decision to give ncdc loan to coop sugar factories who r sick and financial week. This is a another golden apportunity for these coop managing committee to improve and stop corruption in coop sector and help farmers and shareholders.Out of 185 only 80 coop sugar factories r working. Strict and no action is taken by coop dept, sugar comm or coop comm against corruption in coop sector. Open corruption is going on due to political bigwigs not bothered of consiquences. Coop committee members r not disqualified for misdoings or closure or corruption in coop sector in maharashtra. Political parties and officials help currupt committee members to go away with mistakes repeatedly.