Compromise Settlement Scheme extended

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Puducherry, May 13 (UNI) Puducherry Industrial Promotion Development and Investment Corporation (PIPDIC) today extended the validity of the Compromise Settlement Scheme, introduced in June last year, till February end.

An official release here said to reduce its non-performing assets (NPA) and help eligible industrialists settle loans, PIPDIC introduced the scheme which was operational till December 31.

Following persistent requests from industrial units, it was decided in the board meeting on January 30 to extend the scheme to February 29.

Industrialists opting for the scheme would be eligible for waiver of a certain percentage of interest on loans, the release added.


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