Madikeri, Aug. 18: Mysore-Kodagu Lok Sabha constituency MP Yaduveer Krishnadatta Chamaraja Wodeyar has made an attempt to resolve the financial problems of the Kodagu Coffee Growers' Association.
The Kodagu Coffee Cooperative Society is now facing severe financial difficulties and Yaduveer Wodeyar has requested the Union Commerce Ministry and the Finance Ministry to intervene and provide relief.
In this regard, MP Yaduveer met Union Commerce Minister Piyush Goyal in New Delhi and requested him to submit a petition and provide relief. The MP has issued a press release in this regard and shared information.
An organization established decades ago
The Coffee Cooperative Society, established in 1956, has provided ample support to more than 10,000-12,000 small and medium coffee growers in Kodagu, Mysore and surrounding areas. It is the backbone of about 40,000 families. It has provided employment to thousands of estate workers. It is said that such a society
Due to market fluctuations and lack of capital, it suffered a loss of Rs. 6.85 crores in 1995-96
From the front page) The MP explained.
Heavy interest imposition
According to the judgment given by the Coffee Board on 12.9.2011, the Society had been directed to pay an interest of Rs. 1,55,28,034. Later, the Coffee Board wrote a letter on 20.09.2015, offering to waive the interest if the principal is paid. Accordingly, the Society paid Rs. 1,55,28,090 on 22.12.2015. But in 2017, the Coffee Board had imposed a penalty of Rs. The MP clarified that the Union Minister was informed of the situation that the association was charging interest of Rs. 5,83,85,155 and wrote a letter to pay the higher amount of expenses.
The association is now in a severe financial crisis and has suffered a loss of Rs. 13.13 crore. In this case, it is not possible to pay the interest. If the interest is paid, the society will become financially bankrupt. About one lakh people will have to face severe consequences due to this, Yaduveer said.
Appeal to the Ministry of Commerce and Finance
In this regard, it has been requested that the Minister of Commerce should immediately intervene and save the association from financial distress.
A request was made to coordinate with the Ministry of Finance in this regard and provide appropriate compensation and assistance to the organization.
The Minister, who received the request, has assured to take immediate action in this regard, said MP Yaduveer Wodeyar.
Note:This article is translated by xklsv.com, from shakthidaily.info; the Shakthi Daily is not liable for any errors in translation. If there are any errors in spellings, please mail [email protected]
