122 MSMES in Pune dist opt for exit policy

The team from Pune District Industries Department had conducted a survey of such units,which had been closed for the last ten years.

Written by Nisha Nambiar | Pune | Published: December 11, 2013 2:53 am

Nearly 122 Micro Small and Medium Enterprises (MSMES) — mainly in the Pune district,including Ranjangaon,MIDC and Nagar Road,Sanaswadi and Baramati — that are unable to function and are closed,have decided to opt for the one-time exit policy offered by the state government.

After many such enterprises, especially in the Pimpri-Chinchwad Bhosari MIDC area,reported closure,the new government resolution which enables the industries to avail of a one time exit is proving to be a saving grace for the industries,as well as for the officials.

The team from Pune District Industries Department had conducted a survey of such units,which had been closed for the last ten years.

The new policy,which is specifically for closed units,provides a special amenity for a one-time exit by paying only the principal amount and also enabling other units to take over the closed unit and start it within three years. “There is a huge demand for new ventures. Here,these ventures can help start these units and reap the benefits while the old unit can benefit by just paying the principal amount taken for their establishment,” said district industries head BK Survase.

The exit policy was created after the state industries department faced a huge demand by entrepreneurs wanting to start new ventures. “In this exit policy the department will look at new industries wanting to take over the old units and their machines,” added Survase.

The industrial policy for the state came into effect on February 22 and the exit policy in September. The amenity scheme will benefit the person who has kept the unit closed.

Similar policies have been tried at various places. In Andhra Pradesh,the exit policy for sick and closed industrial units in the small and medium enterprises sector has been of help for many units. The policy helps entrepreneurs get rid of the defaulter tag and the exit route to rid them of their statutory dues,bank liabilities and money owned to creditors.

The policy is being looked at as a win-win situation both for the entrepreneur and the bank,said senior industries officials from the state. Entrepreneurs who have kept their units closed are welcoming the initiative,but are hoping that there is a single institutional mechanism to deal with the multiple areas as it would make the processes quicker.

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