The Tamil Nadu Industrial Investment Corporation (TIIC) proposes to recover the targeted NPAs to the tune of Rs 300 crore under two new recovery schemes.
The two new schemes, non-discretionary non-discriminatory (NDND) and non-NDND scheme -- propose to complete the recovery of targeted NPAs by December 2003.
They are likely to benefit 10,000 SSI units in the state. The new NDND scheme is part of the NPA recovery process initiated by TIIC during the year to cleanse its balance sheet of about Rs 850 crore worth of outstandings.
P Murugesan, the DGM (recovery), said,
