The Coimbatore Sidco Industrial Estate Manufacturers Welfare Association (COSIEMA) today urged the Tamil Nadu government to roll back the increase in the Memorandum of Title Deeds (MOTD) charges for bank loans.
The state government has increased the MOTD charges for bank loans from Rs 25,000 to Rs 30,000, despite demands from the industry to reduce it to Rs 10,000, COSIEMA President, S Surulirajan said in a statement here.
"But now all of a sudden without any reason this charge has been increased to Rs 30,000," he said and appealed to the government to revise the charge.
The association also requested the government to consider charging only Rs 10,000 for Small and Tiny Industries on the basis of Udyog Adhar, Surulirajan said.
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