3 weeks ago

Maharashtra Cabinet clears 18-crore loan for BJP-linked sugar factory

Maharashtra Cabinet clears 18-crore loan for BJP-linked sugar factory
Maharashtra’s Mahayuti government clears Rs 18 crore loan for sugar mill linked to BJP MLA · indianexpress.com

The government of Maharashtra is like a big group of grown-ups in charge of a large state in India.

Recently, these grown-ups held a meeting and decided to help a sugar factory get a loan.

A loan is money you borrow, and later you have to pay it back.

The factory is called the Shri Nilkantheshwar Sugar Factory, and it is in a place called Killari.

The loan is for about 18 crore rupees, which is a very large amount of money.

The money will be used to buy things the factory needs and to pay for its everyday work.

The money will come from a group called the National Cooperative Development Corporation.

A man named Abhimanyu Pawar, who is a member of the state assembly for the BJP party, is connected to this factory.

The leaders decided the loan should be treated as a special case.

Now that they have said yes, the paperwork goes on to the next step for final approval.

Key facts

Loan amount
Rs 18 crore
Borrower
Shri Nilkantheshwar Sugar Factory, Killari
Lender
National Cooperative Development Corporation (NCDC)
Linked politician
BJP MLA Abhimanyu Pawar
Approving body
Maharashtra Cabinet (Mahayuti government)
Loan purpose
Capital expenditure and working capital
Next step
Proposal to be forwarded to NCDC
Condition
To be treated as a special case

Sources

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