BoM grants Rs 200 cr loan after NMC gets high rating from a reputed agency
Nagpur: The Chairman of NMC’s Standing Committee Virendra Kukreja said that the finances of the civic body have been put on track and the pending dues of contractors would be cleared within 15 days. “NMC had paid Rs 150 crore to contractors before Diwali and Rs 135 crore recently. Within a fortnight, the civic body will clear payments to the tune of Rs 50 crore to contractors. With this payment, NMC will have cleared all the dues of contractors till the month of October 2018,” Kukreja said after the meeting of Standing Committee held on Friday. The bills of Rs 27 crore due to LED work contractors only will remain to be paid as those are under process, he added.
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Tuesday 18 Feb. 2025
Kukreja further said that NMC would require more funds for various projects and Bank of Maharashtra has granted a loan of Rs 200 crore following a high rating the civic body received from the reputed independent agency CARE Ratings. Initially, the agency had accorded ‘B’ rating . However, on our request, when the agency examined the documents and NMC’s records carefully, they have given us ‘A -’ rating.
However, on NMC’s request, the agency examined the NMC’s documents and records minutely, gave ‘A-’ rating. This high-rating paved the way for NMC to get Rs 200 crore loan from Bank of Maharashtra, Kukreja said and added that till now there was no need for the rating to procure loans. But according to new rules, rating is must for procuring loans. “NMC spent Rs 3 lakh for this rating process,” he said.
The Standing Committee cleared a proposal of Rs 24.76 crore towards various works relating to construction of cement concrete roads under Part ‘B’ of Package-XI. In the meeting, Kukreja said, the committee had given administrative approval to proposals worth Rs 9.25 crore, and also cleared tenders of Rs 3.01 crore.
Kukreja said that Nagpur Municipal Corporation will pay consultancy charges at the rate of 2.5 per cent of the estimated cost of construction of ‘Metro Mall’ to be developed by Maha Metro Nagpur near Jaiprakash Nagar. Once the construction begins, NMC will start sales of blocks in the proposed mall. For the purpose, the civic body has cleared a proposal for appointment of a Sales Management Agency.
