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Jan 19, 2009

TACT's Appeal To Police

Tamil Nadu Association of Cottage and Micro Enterprises (TACT) has appealed to Coimbatore police to protect the micro entrepreneurs who have taken bank loans and are unable to repay because of the slowdown. In a release, the association president J. James said that the micro and cottage industries were in a crisis because of the power cut for the last one year and the slump in orders. Several units that had taken loans from banks were unable to pay now. Some of the banks were pressurising the units to repay the dues. The units have appealed to the governments to provide moratorium to the units for repayment.

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