Imphal, March 16: Debts Recovery Tribunal, Guwahati has passed an order to recover loans along with the payable due interest from Juicy Fruit Industries, Porompat Thawan thaba Leikai, which is one of the many industrial units which have taken loans from Manipur Industrial Development Corporation Ltd (MANIDCO).

The said loan amount had been reportedly taken by the owner of Juicy Fruit Industries late Wangkhem Basanta, ex-MLA while he was alive.

In the Tribunal order passed on February 17 last, presiding officer Md Abdul Khalique notified for recovering Rs 1,08,10,060.70 along with payable interest at the rate of 10 percent per annum from the date of applying for the case from the defaulting industrial unit.

M/S Juicy Fruit Industries had taken a loan amounting to Rs 19,92,000 from MANIDCO in two installments in 1988 and 1989 respectively.

But as Juicy Fruit Industries failed to repay the loan inspite of repeated reminders the unpaid due amount along with the payable interest reached Rs 1,08,10,060.70 as on September 30, 2002.Thereafter MANIDCO approached the Debts Recovery Tribunal for recovering the loan.

After perusing the matter, the Tribunal in its sitting on February 17, directed the defendants of the case namely, Sumitra Devi, wife of proprietor of the firm late W Basanta, her daughter Baby alias Punam and sons Boby Raj alias Vikram Raj Wangkhem and Vivek Raj Wangkhem as well as one Md Rahimuddin who was the guarantor at the time of taking the loan to pay back the due loan amount.

It may be noted here that Vivek Raj Wangkhem is the MLA of Kshetrigao Assembly Constituency.

In its ruling, the Tribunal further directed the defendants to pay the interest from the date of submitting application to the Tribunal, i.e.January 16, 2003 to the date of payment of the due loan which amounts to Rs 1,08,10,060.70 at the rate of 10 percent per annum as well, besides bearing the Application cost.

Talking to The Sangai Express in this connection, Industries and Commerce Minister Th Debendra said that MANIDCO was forced to approach the Debts Recovering Tribunal as the loanees have not responded to the appeals for repaying the loan amount even at the cost of forfeiting the payable interest amount if they pay back the loan amount taken at one time.

MANIDCO had also applied to the Tribunal for recovering loan from other loanee firms including Hotel Diplomat and Hotel Pintu, Debendra informed.

Some of the other important firms which have not returned the loan taken from MANIDCO include M/S Hill Track Tyre ( over Rs 1 crore), M/S Braja Achou Brick Field ( over Rs 31 lakhs), M/S Jiri Brick Field ( over Rs 10 lakhs), M/S National Mechanized Brick Field ( over Rs 22 lakhs), M/S Manipur Agriculture and Industrial Plant (over Rs 65 lakhs), M/S Poly Plastic Industries (over Rs 69 lakhs), M/S North East Foam Rubber (over Rs 69 lakhs), M/S Orient Brick Field (over Rs 34 lakhs), M/S Nimai Singh Brick Field (over Rs 33 lakhs), M/S Bobby Biscuit Factory (over Rs 36 lakhs), M/S Kent and Engineering Works (over Rs 64 lakhs), M/S Image Film Lab ( over Rs 76 lakhs), M/S Manipur State Drugs Pharmaceutical Ltd (over Rs 5.65 crores), M/S Manipur Electricals (over Rs 1.10 crores), M/S Mangalam Wood Industries (over Rs 48 lakhs), M/S Bhubon Gems (over Rs 62 lakhs), M/S Manipur Pulp and Allied Industries Ltd (over Rs 4.56 crores), M/S The Universal Wonder Fruit (over Rs 44 lakhs), M/S MM Industries (over Rs 87 lakhs), M/S Prasad Industries (over Rs 39), M/S Hotel Pintu (over Rs 1.89 crores), M/S Mass Hotel (over Rs 99 lakhs), M/S Hotel Langol (over Rs 66 lakhs), Hotel Diplomat (over Rs 3.83 crores), M/S Hotel Eden (over Rs 29 lakhs), M/S Babasaheb Agor Oil (over Rs 86 lakhs), M/S Hotel Shiroy (over Rs 33 lakhs), M/S Hotel Air View (over Rs 71 lakhs), M/S Hotel Gypsy (over Rs 48 lakhs), M/S Hotel Marvel (over Rs 36 lakhs), M/S Hotel Iceland (over Rs 37 lakhs) etc.

Comment