ABSTRACT

One Time Settlement Scheme - Implemented by Tamil Nadu Cooperative State Agriculture and  Rural Development Bank, Primary Agriculture and  Rural Development Banks, District Central Cooperative Banks and  Primary Agriculture Cooperative Banks - Repayment period of the scheme - Extension of time up to 30.6.2003 - Orders Issued.

Cooperation, Food and Consumer Protection (CP1) Department

G.O.(D) No.121
Dated: 8.5.2003

                                                                                                                        Read:

1. 1.  G.O.(D) No.68, Cooperation, Food and Consumer Protection Department, dated 28.3.2002.
2. 2.  G.O.(D) No.70, Cooperation, Food and Consumer Protection Department, dated 28.3.2002.
3. 3.  Letter No.23686/CC1/2002-1, dated 12.7.2002.
4. 4. G.O.(D) No.165, Cooperation, Food and Consumer Protection Department, dated 22.7.2002.
5. 5. G.O.(D)No.57, Cooperation, Food and Consumer Protection Department, Dated 26-2-2003

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ORDER:

The Government, in the Government Orders first and second read above introduced the "One Time Settlement Scheme" in the primary agriculture and  rural development banks, district central cooperative banks and  primary agriculture cooperative banks so as to facilitate recovery of dues relating to non-performing assets.

2. Under the Scheme, those who have taken loans prior to 31.3.98 and had not repaid the amount due to the cooperative bank were given the benefit of waiver of penal interest and legal charges provided they paid 25% of the dues by 31.3.2002 and paid the balance amount by 30.6.2002.  In the other G.Os. read above, the time for making the payment of 75% of the dues was extended from time to time.  The Government further extended the time for repayment of the old loanees till 30.6.2003.

3. Since it is expected that more farmers will come forward to repay the outstanding loan amount, the Government have  now decided to give an opportunity to the other  loanees also to avail of the benefit from the scheme.  Accordingly, the Government direct that apart from the old loanees, those who did not avail the benefits of the scheme but are desirous of availing the benefits may pay 25% of their dues of 30.6.2003 and pay the balance amount before  30.9.2003.

4. The Government direct that no further extension will be allowed.

5. The Registrar of Cooperative Societies is requested to take necessary action and issue instructions in this regard to all regional Joint Registrar of Cooperative Societies, the Special Officers of Tamil Nadu cooperative agriculture and  rural development bank, primary agriculture and  rural development banks, district central cooperative banks and  primary agriculture cooperative banks, and send a copy of the instructions to the Government.

(By order of the Governor)

S. MACHENDRANATHAN,
SPECIAL SECRETARY TO GOVERNMENT

To

The Registrar of Cooperative Societies, Chennai-10.

Copy to:

The Special Officer, Tamil Nadu Cooperative

Societies Agriculture and  Rural Development Bank, 181, Luz Church Road, Mylapore, Chennai-4.

The Special Officer, Tamil Nadu State Apex Cooperative Bank, Chennai-1.

The Special Officer, Chennai Central Cooperative Bank,  Prakasam Salai, Chennai.

The Finance (CF&CP) Department, Chennai-9.

The CM Office, Chennai-9.

The Special P.A. to Minister (Cooperation, Food, Civil Supplies & Consumer Protection), Chennai-9.

The Chief General Manager, NABARD, Chennai-34.

The Cooperation, Food and Consumer Protection (CC & CN) Department, Chennai-9.

SF/SC.

/Forwarded by Order/

SECTION OFFICER