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Uddhav Thackeray
National Politics

Uddhav Thackeray Govt cancels the loan guarantee, seven sugar mills owned by BJP leaders

These sugar cooperatives did not meet conditions like having a positive net worth and no non-performing assets (NPAs) or liabilities

Mumbai: On Thursday the Maharashtra government has canceled the guarantee on loans of over Rs 300 crore taken by seven sugar mills owned by BJP leaders, including Pankaja Munde, an official said.

The decision was taken at a meeting on Wednesday by the Uddhav Thackeray-led state Cabinet, he said. The National Cooperative Development Corporation (NCDC) provides loans to cooperatives and the Maharashtra government gives a guarantee on it based on some terms and conditions.

The official said, “Since these seven sugar cooperatives did not fulfill the conditions put up for the guarantee, the state Cabinet decided to cancel the guarantee,”. These sugar cooperatives did not meet conditions like having a positive net worth and no non-performing assets (NPAs) or liabilities.

The former state minister Pankaja Munde, another sugar cooperative of Vinay Kore, leader of the Jansurajya Shakti Party which is an ally of the BJP, was also given the guarantee, the official said.

The decision to give loan guarantees to these seven sugar mills was taken by the previous BJP-led government, the state in September 2019 before the state Assembly election.

Earlier the sources said that 34 decisions taken by the previous Devendra Fadnavis government in its last days came up for discussion during the Cabinet meeting.

The state minister and ShivSena leader Eknath Shinde on Wednesday said the Maharashtra Vikas Aghadi government will evaluate the status of the ongoing infrastructure projects undertaken by the previous BJP-ShivSena dispensation.

He also added that the Uddhav Thackeray-led government will not act against anyone in a biased manner. Apart from the ShivSena, the Congress and the NCP are also allies in the MVA government which took office last month.

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