Greater Noida industries seek interest waiver
Sep 18, 2013
Source : The Times of India


DELHI: Given the slowdown in themanufacturing sector, several industries in Greater Noida, which have not been able to pay lease rents against their plots for the past few months have demanded a waiver of interest amounts. Industrial associations of Gautam Budh Nagar district, led by Noida Entrepreneurs’ Association (NEA), have asked the Greater Noida Authority to introduce a time-bound interest-free rent payment scheme.

In a meeting of association members with Greater Noida Authority officials, industries justified introduction of the scheme on the severe financial crunch faced by them due to slowdown in the manufacturing sector. The NEA has asked the Authority to consider a scheme wherein industries defaulting in payments be allowed to settle the pending dues.

In the meeting, NEA members demanded that the Greater Noida Authority reverse a policy decision wherein functional certificates are provided to industries only after they get their building completion certificates. A similar practice is followed in Noida, which entitles units to avail loans and incentives from the government based upon their functional certificates.

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