Vipson (ceo) 19 January 2016

Cgtmse scheme

The santioned loan amount is Rs. 24.60 lacs under CGMSE scheme.. The category of loan santioned is Unit in North Eastern Region.... Inwhich 17.60 lac as term loan and 8lac as CC. The account had been sanctioned in 2013 and since then the entrepreneur has been paying the dues diligently . The CC had not been start yet.There was shortage of funds to take other place to start the project as the splace taken was not suitable for the project and for same he also asked to lend more money in other ways. He had already restructured the loan recently. But still he not able to start the project. The only primary security was Plant and machinery and other fixtures. The area is rented.
My query would be mostly from the Entrepreneurs point of view..i.e What proceedings could be undertaken against him considering it is case of NPA. More so what could the entrepreneur do to present his case strongly keeping in mind he cannot pay liabilities due....??? Please also light me one time settlement.

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2 Replies

Mahhesh Kummar Aggrawal (Proprietor) 25 October 2016

I do have similar querry.. someone pls reply..

MARU ADVOCATE (simple solutions for criminal legal problems -- yourpunch@gmail.com) 27 October 2016

The loan default has become cronic problem due to change in economic cycle.

Now the new law the insovancy code is coming where the units will be taken over.

Those people who have land with sufficient water can start some profitable units with very good profit. For guidance send email so that we will send regular updates of our blog on such efforts.