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06 Dec 2019, Edition - 1606, Friday

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Coimbatore

Industries urge govt to rollback MOTD charges and to reduce to Rs.10,000

Covai Post Network

Image credit : Illustrative Image

Coimbatore : Coimbatore Sidco Industrial Estate Manufacturers Welfare Association (COSIEMA) today urged the Tamil Nadu to roll back the sudden increase in the Memorandum of Title Deeds (MOTD) charges for bank loans.

The Government has increased the MOTD charges for Bank Loans fromRs. 25,000 to Rs. 30,000, despite demands from the industry for reducing it to rs.10,000, COSIEMA president, S Surulirajan said in a statement here.

“But now all of a sudden without any reason this charge has been increased to Rs.30,000,” he said and urged the Government to consider and revise the charge Rs.25,000.

The association also requested to consider charging only Rs.10,000 for Small and Tiny Industries on the basis of Udyog Adhar, Surulivel said.

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