PUNE, Nov 29: Around 13 units located in backward areas who had been sanctioned an interest free sales tax loan by the government of Maharashtra under the package scheme of incentives 1983 now plan to file a writ petition against the government in the Bombay High Court for breach of trust.Chairman and managing director of Cooper Foundry Pvt Ltd Farrokh N Cooper, which is one of the affected units revealed that although the government has sanctioned an amount of Rs 22.11 crore to all the units covered under this scheme, however, till date, no amount has been disbursed so far.The affected units include bigger companies like Nippon Denro Ispat Ltd , Nagpur,which stands to receive Rs. 9.26 crore from the government, Tata Steel Limited,Thane a sum of Rs. 8.23 crore, Neco Castings Ltd, Nagpur which is yet to receive Rs 1.24 crore promised by the government, the smaller ones include Ashwini Synthetics P Ltd, Thane, which stand to receive Rs 2.79 lakh or the Cooper Foundry Pvt Ltd, Satara which is yet to receive Rs 60.43 lakh from the government.R B Sawangikar, general manager of Jayaswals Neco Limited explained that since this was a loan scheme, when the government makes disbursement to them, it automatically ensured that it would get the funds back after a period of 12 years. However in other schemes of exemption and deferral, the government does not not get the money back and so logically the government should make a payment to the loan schemes on priority for their own interest, he said.Ironically, the government on the other hand is disbursing funds to units that have been sanctioned incentives in the later schemes which followed in 1988 and 1993, Zal Cooper, executive of Cooper Foundry Pvt Ltd pointed out, adding that this obviously revealed the government's intention not to pay out funds to units of this scheme. The affected units are the ones dealing in iron, steel and processing of yarn.
