Saturday, December 2, 2023

Jamshedpur: Conference seeks Tata Steel nod for mortgage loan in registered subleased land

Jamshedpur, November 18: Mukesh Mittal, president of East Singhbhum district Marwari Conference and former vice president of Singhbhum Chamber of Commerce and Industry, has written a letter to Chanakya Chaudhary, vice president (corporate services), Tata Steel, seeking clearance for mortgage loan for subleased land approved by Tata Steel and registered by the appropriate authority.

The president has written that Tata Steel has allotted the land allotted on lease basis by the Government of Jharkhand to various institutions/organizations/individuals in Jamshedpur on sublease and later these subleased lands are duly transferred by the sublease holders to the appropriate authority.

“Yet, despite all the legal compliances being in order, unfortunately, banks do not take proper cognizance of these subleased lands and do not accept them as legal documents for mortgage loans. Thus, money spent on such subleased land has virtually become a dead investment,” the letter states.

“ It has been stated by the banks that the banks require NOC from Tata Steel in proper format, without which they express their helplessness in considering any application for mortgage loan against the subleased land of Tata Steel. Therefore, it is requested that the matter be considered sympathetically and a system evolved for issuing NOC to the sublease holders of leased land of Tata Steel, as and when required,” the letter states.

Mukesh Mittal sent a copy of the letter to Ratan Tata, chairman Emeritus Tata Sons Limited, TV Narendran, Global CEO and Managing Director Tata Steel Limited, Narayan Rane, Minister, Ministry of Micro, Small and Medium Enterprises, Government of India, Hardeep Singh Puri, Minister, Ministry of Housing and Urban Affairs, Government of India, Piyush Goyal, Minister, Ministry of Commerce and Industry, Government of India, Vinay Kumar Choubey, Secretary, Ministry of Urban Development and Housing, Government of Jharkhand, Banna Gupta, Minister, Ministry of Health, Government of Jharkhand.

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