Compromise settlement scheme period extended

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Puducherry,Mar 7(UNI)Pondicherry Industrial Promotion Development and Investment Corporation(PIPDIC) has extended the validity period of the compromise settlement scheme to benefit the borrowers to repay their loans till March 31.

In a release here, PIPDIC said with a view to reducing its Non-performing assets accounts and to help eligible industrial borrowers to settle their loan account, the corporation has introduced a compromise settlement scheme, which was in operation till February 29.

On the persistant request from industrial units and inorder to give a final opportunity to the eligible units to avail the benefit of the scheme and to come out of the debt burden,the validity of the scheme is being extended.The eligible industrial units should utilise the opportunity and settle the loan account to avoid recovery proceedings, the release added.


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