Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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Mohan Chandra Pandey (Buiness)     18 September 2017

Business loan covered under cgtmse, right of business?

Sir,

What are the Right of Business against Banking Institutions who are in process to Lock down Business due to NPA for more than 15 Months. The Loan Covered under CGTMSE and the Insurance Amount timely paid by the Business.

1- Is there any option for the Business to Save the Unit for Lock down.

2- If Bank has to right Lock down the Unit and Sale it on Auction, than What is the role of CSTMSE Scheme? 

Please help me.

Mohan Chandra Pandey



Learning

 2 Replies

Isaac Gabriel (Advocate)     14 October 2018

discuss with bank officials since they too suffer if the business is abrubtly closed resulting increase in NPA.

sakshi gupta   20 May 2022

Business loan for new business- A crucial prerequisite for fostering first-generation entrepreneurship in India is the availability of unsecured bank loans. The Ministry of Micro, Small & Medium Enterprises (MSME) developed the CGTMSE Scheme to help millions of first-generation entrepreneurs start their businesses with a bank loan (without the hassles of collateral). SIDBI and the Indian government work together to implement the CGTMSE scheme, or Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).


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