https://www.taxtmi.com/news?id=61445 The government approved a Rs 3,000 crore state guarantee for the first-phase HUDCO loan to acquire land for the Nagpur IBFC, valid for 12 months. NMRDA is the principal debtor; the state will not bear delayed-payment or penalty liabilities. Mortgaged movable and immovable property must be sold to recover the loan before invoking the guarantee. Monthly repayment reports and semiannual financial-status reports are required. A guarantee fee of Rs 0.50 per Rs 100 per year is payable semiannually; late payments attract 16% interest for three months and 24% thereafter. Asset sales need committee and state administration approval. en-us Wed, 12 Nov 2025 23:01:03 +0530 Wed, 12 Nov 2025 23:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=61445 The government approved a Rs 3,000 crore state guarantee for the first-phase HUDCO loan to acquire land for the Nagpur IBFC, valid for 12 months. NMRDA is the principal debtor; the state will not bear delayed-payment or penalty liabilities. Mortgaged movable and immovable property must be sold to recover the loan before invoking the guarantee. Monthly repayment reports and semiannual financial-status reports are required. A guarantee fee of Rs 0.50 per Rs 100 per year is payable semiannually; late payments attract 16% interest for three months and 24% thereafter. Asset sales need committee and state administration approval. News - Wed, 12 Nov 2025 23:01:03 +0530 https://www.taxtmi.com/news?id=61445