Maharashtra allows industries to delay lease rental payments

To help the industry come out of massive disruptions caused by the COVID-19 pandemic, the Maharashtra industries department on Thursday allowed companies to delay lease rentals.


The department will also look into the industry demand for lowering or rescheduling power and water bills.



The decision was announced by Industries & Mining Minister Subhash Desai who met a CII- delegation on Thursday wherein he sought their support to contain the spread of the virus and promised to accommodate the views of the industry in taking major decisions.


The minister also promised to look into the demand of the industry to lower/reschedule electricity and water tariff.


P Anbalagan, chief executive of the Maharashtra Industrial Development Corporation (MIDC) assured members that all payment dues to MIDC will be rescheduled without any penal amount. The industry also requested the government to consider defence and aerospace, foundry industry and ESMA industries which include thermal power stations and refineries, petrochemical, steel, metal etc to operate at minimum capacity.


Source: https://www.moneycontrol.com/news/india/maharashtra-allows-industries-to-delay-lease-rental-payments-5130041.html

Apr 09, 2020

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