In its efforts to encourage industries in the state under the Make in India campaign, the Maharashtra government has extended a special amnesty scheme till March 2017 for industries that have been clo
In its efforts to encourage industries in the state under the Make in India campaign, the Maharashtra government has extended a special amnesty scheme till March 2017 for industries that have been closed down or are sick. The scheme will help the industries to revive themselves by using different measures.
“The special amnesty scheme was launched in 2013 and extended to 2015. The government has decided to extend it further to March 2017 to revive sick and closed businesses. The idea is to make use of the land, machines and structures that have been built for business and are lying vacant. It also allows transfer of businesses in order to revive them,” an official from the industries department said.
The industries that have been closed for more than a year or declared insolvent can benefit from the scheme.
Under the schemes, industries that have closed down completely can be transferred to other industries by making one time settlement of dues. The government is ready to waive off interests and fines charged on the old business, the official said. The government has also put a few conditions on the transfer of business so that it will be mandatory for the new management to make use of the land for industrial purposes only.
“In case of transfer of business, the new management should start production within three years. The new industry will have freedom to start new businesses like service industry, IT and theme parks. The intention is that land should be used for correct purposes and create employment and attract investment,” the official added. If the conditions are not complied with, the government will charge the industries a 12 per cent interest rate. Also, the new management is expected to invest the amount equivalent to land and building price. The price of machinery will also be counted.
The scheme has also brought some relief to industries that have closed down before April 1, 2010. “The scheme allows them to opt for a one-time settlement of its dues,” he added. However, if the matter is in court, the benefit of the scheme can be given to such industries individually.
The state is working on setting up new industries by inviting industrialists from across the world. It has made the process of giving licences easy and is aiming to have a one-window system, the official added.
