JAC to oppose forceful physical possession of any College by Banks for non-payment of Loan

Mohali, 29 August, 2019 (Yes Punjab News)

Joint Action Committee (JAC) compromising of 13 different associations has decided to oppose any forceful physical possession by bank in any Unaided College of Punjab where already Students are studying.

Rs 1400 crore due towards Govt for PMS:-

S. Jagjit Singh, President, B.Ed Federation said that over 1400 Crore is unpaid from last 3 Years resulting into many of the colleges accounts turning to Non-Performing Assets (NPAs), Cheque Bouncing cases, Auctions of the Colleges, Legal Proceedings against the Societies and the Trusts, delay in the salaries and Financial & Mental Stress to the management and staff of the Unaided Colleges.

Colleges turning NPA for default of 90 days payment while PMS due since last 3 years:-

S. Manjit Singh, Senior Vice President, PUTIA said that the Unaided Colleges when doesn’t pay their bank loan Dues for 3 months, they are declared as NPA’s and Banks start taking legal action against the Colleges/Trusts. On the other hand, Colleges are not getting their sanctioned dues for the PMS from the Govt. from last 3 Years.

Funds for the year 2017-18, 2018-19 and 2019-20 totally unpaid:-

Dr. Anshu Kataria, Spokesman, JAC said that the Post Matric Scholarship (PMS) funds for the year 2016-17 amounting to Rs 415.60 crore is still pending towards the Govt. The amount of Rs 538 crore for the year 2017-18; Rs 437.19 crore for the Year 2018-19 and the full amount of the year 2019-20 are fully pending towards the Govt.

JAC seeks CM Intervention:-

Dr. Gurmeet Singh Dhaliwal, President, PUTIA urged CM Punjab to instruct the DCs of all districts not to allow forceful physical possession by any bank in any college keeping in mind the future of the students and other employees.

Colleges need time for settlement with the Banks:-

Mr. Charanjeet Singh Walia, President, Nursing Colleges Association said that if the Govt has started releasing the funds now then the colleges will take some time for fund Management and get settled.

Walia said that Colleges are declared NPA for the default of 90 days while when the Govt delays the payment for 3 years nobody questions. Walia further added that some part of the funds has been released but the physical procession of the college is not justified. Colleges need more time to settle the dues.

JAC directors including S. Nirmal Singh, Sh. Anil Chopra, Mr. Jasnik Singh, S. Sukhmander Singh Chatha, S Rajinder Dhanoa, Mr. Shimanshu Gupta, Sh. Vipin Sharma, Dr. Satwinder Sandhu etc were also present during the meeting.

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