Goa Gazette, No. 2324-31, 02 November 2023

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RNI No. GOAENG/2002/6410 Reg. No. RNP/GOA/32/2021-2023

Panaji, 2nd November, 2023 (Kartika 11,1945) SERIES I No. 31 PUBLISHED BY AUTHORITY

NOTE

There are four Extraordinary issues to the Official Gazette, Series I No. 30 dated 26-10-2023, namely:—

1. Extraordinary dated 27-10-2023 from pages 2205 to 2206, Notification from Department of Finance regarding Market Borrowing Programme.

2. Extraordinary (No. 2) dated 27-10-2023 from pages 2207 to 2260, Notification from Department of Finance regarding rates of Excise Duty.

3. Extraordinary (No. 3) dated 31-10-2023 from pages 2261 to 2262, Notification from Department of Law regarding Ordinance No. 4 of 2023.

4. Extraordinary (No. 4) dated 31-10-2023 from pages 2263 to 2266, Notification from Department of Finance regarding the Goa GST (Fourth Amendment) Rules, 2023.

INDEX

Department Notification Subject Pages 1 2

3

4 -

1. Co-operation Not.- 41/4/2008/TS/RCS/ Guidelines for OTS Scheme for Credit 2267 /VOL. II Societies 2023

2. Tribal Welfare Not.- DTW/7/Hostel/Scheme/ Amendment of Grant-in-aid to Voluntary 2276 /Amendment/2023-24/3034 Organisation for Running Hostels for

Scheduled Tribe Students.

GOVERNMENT OF GOA

Department of Co-operation

Office of the Registrar of Co-operative Societies

__

And whereas, the members could not take the benefit under the said OTS Scheme due to financial crunch on account of covid pandemic thereby defeating the very purpose of the said scheme.

Notification

41/4/2008/TS/RCS/VOL. II

Sub.: Guidelines for OTS Scheme for

Credit Societies 2023.

Whereas, the Government had floated OTS Scheme for all the Credit Societies functioning within the State of Goa on 10-02-2020 for initial period of six months and subsequently on demand from co-operative sector it was extended from time to time.

in recycling of funds to generate income from the amount received from non performing assets.

The benefits under the OTS Scheme shall be applicable to only those loan accounts wherein the society has made adequate NPA provision in the audited balance sheet as on 31-03-2023.

All the Urban Credit Co-op. Societies/PACs/ /Multi-purpose or any other societies carrying on the business of accepting deposits and lending loans to its members are therefore advised to devise One Time Settlement (OTS) Scheme at their discretion in line with the revised model guidelines appended herewith.

This scheme shall come into force once the same is published in Official Gazette and it shall remain in force till such time as mentioned in the above guidelines appended herewith or any further extension period on the demands of the co-operative societies registered under the act and with the approval of the Government.

Manuel Barreto, Registrar of Co-op. Societies & ex officio Joint Secretary (Co- operation).

Panaji, 20th October, 2023.

–––––––

Model Guidelines for One Time Settlement (OTS) Scheme/OTS Scheme for Credit Co-operative Societies in the State of Goa-2023.

Introduction:

Hitherto the Government had floated OTS Scheme for all the credit societies functioning within the State of Goa on 10-02-2020 for initial period of six months and subsequently on demand it was extended over a period of time, last being extended on 30-06-2023 with its validity upto 30-09-2023. However the members could not take benefits under the said OTS Scheme due to financial crunch on account of covid pandemic thereby defeating the ver y purpose of the said scheme.

Now with a view to minimize the Non Performing Assets (NPA) of the Co-operative Credit Societies and to provide relief to the borrowers/members of the societies, who have not been able to repay their dues for the reasons beyond their control, it has been decided to introduce a One Time Settlement Scheme 2023, to provide an opportunity to them to liquidate their dues. This will help the societies in recycling of funds to generate income from amount received from non performing assets.

Features.— 1) The OTS Scheme shall be applicable to all the Primary Agricultural Credit/Multipurpose/Urban Co-operative Credit Societies registered in the State of Goa who are doing the credit and deposit business.

2) This scheme shall adhere to all the provisions of the Goa Co-operative Societies Act, 2001 and the Rules, 2003 and shall also comply with the various circulars, notifications, orders issued by the Government and Registrar of Co-operative Societies from time to time.

3) After adopting the scheme, it shall be made applicable to all the members of the society except sitting members on the Board of Directors, Ex-Directors and their family as defined under the act, without any prejudice and discrimination.

4) Since at any point of time the NPA type of loan and interest therein would not be exempted/waived, Rule 40 of the Goa Co-op. Societies Rules, 2003 shall not be applicable to this compromise scheme.

5) The societies shall be bound to place all the information in relations to the loans covered under this OTS Scheme in the Board of Director's meeting. Therefore, all the cases considered for OTS Scheme shall be included in the agenda of the Board of Director's meeting. The particulars of which will be placed before the Board of Director's in the proforma enclosed herewith as "Annexure-A".

6) The overdue outstanding amount appearing at NPA stage shall be the minimum amount to be recovered fully from the loanee member. The amount beyond the NPA stage till date of repayment shall be recovered at discretion of Board at simple rate of interest ranging from 8 to 10% depending on the merit of each case.

7) The waiver that may be allowed by the society in terms of this scheme shall be borne by the society exclusively on their own strength and no financial support in the matter will be provided by the Government or the Registering Authority.

8) The scheme shall not cover the cases of frauds, misappropriation of funds and willful defaulter.

9) Legal heir(s)/guarantor(s) of the deceased borrowers will also be covered under the scheme.

10) The scheme will cover all the borrowers, even if suits filed under arbitration, execution and section 138 of Negotiable Instrument Act, 1881.

11) The benefits under the OTS Scheme shall be given to only those loans account wherein the society has made and accounted adequate NPA provision in the audited balance sheet as on 31-03-2023.

12) All the OTS cases covered under the scheme shall be placed before the Board giving all information in forms Annexure 'A' for decision of the board and accordingly acted upon.

1. Eligibility.— A. All the loans which are classified as NPA's upto 31-03-2020 and are still outstanding will be eligible for benefit under the OTS Scheme.

B. The loans availed by the sitting directors/members of the managing committee, ex-directors and their family as defined under the Act and employees of the society shall not be covered under the scheme.

C. The loans that have been sanctioned by the society beyond the loan limit that has been specified in its bye-laws and or loan rules shall not covered under this scheme.

C. It shall be the discretion of the Board to decide on merit and within the guidelines of the OTS Scheme which loans are to be considered or rejected.

2. Obligation to be adhered by the principal loanee and sureties after availing OTS Scheme.— The beneficiaries who are availing the benefits under the OTS Scheme shall not be entitled for any type of facilities/exemption in relation to any other loan repayment; they shall also not be eligible to avail loan or stand surety to any type of loans advanced by the society for the next 6 years.

3. The following items/heads can be

waived/exempted under this scheme.—

a) Recovery expenses of the Society.

b) Penal Interest charged if any.

c) Postage expenses and the expenses

other than the actual interest.

4. Operative period.— The last date of application to avail the OTS shall be decided by the Board; however, the same shall not be extended beyond 31st March, 2024 from the date of issue of revised guidelines.

5. The mode of application.— a) The applicant shall deposit 10% of the loan amount as it stands on cut-off date of classifying his loan and interest as on the date of NPA.

b) The Board of Directors shall scrutinize the application received from the loanee members and take the decision thereafter.

Nevertheless, the decision taken by the BOD under this OTS Scheme shall be communicated to the concerned applicant within 30 days from the date of such decision. Incase the society refuses any such applications the refusals shall be communicated to the concerned applicant2269 OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 31 2ND NOVEMBER, 2023 with the reasons for non-acceptance of his application and 10% amount of loans received along with application from the concerned loanee member shall be credited to the principle loan of that loanee. In no case, amount shall be adjusted towards the interest.

6. Compromise formula.— A. On or before cutoff date the day on which the loan has been classified as NPA, the balance appearing in the loan ledger both principle and interest (Normal interest as per sanction letter will be charged from the date of disbursement to the date of NPA in normal course) shall be taken as the base amount and the simple interest ranging from @ 8% to 10% as fixed by the society for various types/categories of loans shall be calculated on the total of the above principal and interest.

B. In case any loanee members has paid certain amount after cut-off date (i.e. the date of classifying the loan as NPA), such amount shall be deducted at the end. However, in no circumstances the amount outstanding on the date of classification of loan as NPA shall be reduced and allowed to be closed by recovering less amount then the formula adopted by the society as at "A" above.

C. The loanee member shall deposit at least 25% of above compromised amount within 30 days from the date of the consent letter of the society. (This 25% proportion may include the amount deposited 10% at the time of application for OTS).

D. Remaining 75% of the amount arrived

after compromise shall be paid within 30 days

from the date of expiry of 30 days allowed (under "C" above).

E. The total amount that has been agreed

to be compromised under this scheme shall be paid within 60 days (Under 'C' & 'D'

above) from the date of communication

under para 6 from the society to loanee member.

F. Incase the loanee member fails to pay the entire amount within 60 days as specified under clause "E" above and if the balance remains after 60 days, the loanee members shall be liable to pay interest rate upto 13% compounded till the date of final payment as decided by the society.

G. In case the entire amount arrived after compromise has not been deposited within 12 months from the date of expiry of 60 days as calculated in clause "E" of this para the society will have right to revoke the facility of One Time Settlement Scheme extended to the loanee members and in such circumstances the loanee shall be liable to pay all the amount along with the regular interest, service charges, recovery charge and other incidental expenses. The society will also have the right to recover the amount from the loanee as it is being done under normal practice. This has to be specified in its scheme by society.

7. OTS under the double the Principal

Amount (Dam Dupat Scheme).— The loans

up to rupees 25 lakhs outstanding with

or without collateral security of movable

and immovable assets/property could be

compromised under double the principal loan

availed (Dam Dupat Scheme).

a) In case any loan which is overdue

(i.e. date of default) for more than seven

years/84 months preceding cut-off date

i.e. on 31st March, 2022, can be settled

under this scheme.

b) Any loan account which has remained

unpaid/outstanding af ter expiry of

sanctioned period exceeding 3 years

preceding cut-off date i.e. on 31st March,

2022, can be compromised/settled under

this scheme.

Provided that the total amount recovered shall be at least double the principal loan availed plus incidental charges such as group2270 OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 31 2ND NOVEMBER, 2023 insurance and postage if any may be recovered at the discretion of the society. The particulars of which will be place before the OTS sub committee and Board of Directors in the proforma enclosed herewith as Annexure B and C.

Compromise amount to be payable preferably in lump sum latest within 60 days of the approval, with minimum 10% of the approved amount to be paid up front with application.

8. OTS for gold loan account.— In the case of gold loan there should not be any sacrifice as value of security should have been adequate to recover entire loan outstanding. However, in exceptional cases only where even after disposing off gold ornaments/ /artificial/coin etc., some outstanding amounts remains in the account; same may be covered under this scheme subject to no fraud/willful default/fake gold in the account.

a) If amount remains to be paid after disposing security is equal or less than 10% of the gold loan sanctioned amount, then same can be waived out from the bad & doubtful debts/NPA provision with the approval AGM.

b) If amount remains to be paid after disposing security more than 10% of sanctioned amount, then society shall obtained approval of AGM and proposal for the waiver shall be submitted to registering authority for approval.

The particulars of which will be place before the OTS sub committee and Board of Directors in the proforma enclosed herewith as Annexure D.

9. The obligations to be observed by the society.— A. Public notice shall be published in local newspapers, giving publicity of the scheme and also communication be sent individually to each eligible loanee by the society.

B. All the eligible loanee member under this scheme shall be entitled for the scheme and the society shall not discriminate to any member.

C. The amount compromised shall be deposited by the loanee himself. In no circumstances, the loan compromised under this scheme shall be paid by getting sanctioned loans in the name of other members or through and on behalf of other members. In case any director or office bearer or responsible officer as the case may be is found to be misutilising the scheme by borrowing in the name of any one person and repaying the loan of the other person with the sole intention to take the benefit of One Time Settlement Scheme the person responsible shall be liable for the action.

D. The society shall constitute an independent sub-committee under the nomenclature "One time settlement sub committee" in which the Chairman of the society, two Directors, will be the Members and the Chief Executive Officer/Secretary/ /Manager will be the Member Secretary of the said Committee.

The OTS sub-committee constituted for the scheme shall scrutinized the each and every proposal and endorse necessary certificate of recommendation with reason thereof before placing the same for the approval of the BOD in the prescribed annexure enclosed.

The society who has availed any loan, financial assistance, Government share holding, guarantees, etc., from the Government shall invariably seek prior approval from the Government before implementing the OTS Scheme.

These are only guidelines issued by the Government. The societies shall based on these guidelines draft their own scheme without disturbing the essence and the texture of these guidelines or adopt these guidelines in to with certain changes as required, and with due approval of the Board make it applicable.

Department of Tribal Welfare

Directorate of Tribal Welfare

__ Notification

DTW/7/Hostel/Scheme/9/Amendment/ /2023-24/3034

Read: 1. No. DTW/STAT/PC/2012-13/85/ /10603 dated 24-09-2015.

2. No.DTW/7/Hostel/Scheme/9/ /Amendment/2015-16/69/7423 dated 27-10-2016.

3. No. DTW/7/Hostel/Scheme/9/ /Amendment/2015-16/1331 dated 12-05-2016.

4. No. DTW/7/Hostel/Scheme/9/ /Amendment/2017-18/9029 dated 29-03-2018.

The Directorate of Tribal Welfare, Government of Goa is implementing the scheme "Grant-in-aid to Voluntar y Organization for Running Hostels for Scheduled Tribe Students".

Whereas Government desires to amend the

scheme in the public interest.

Now therefore the amendment to Clause 6 sub-clause (i) (a), Clause 6 sub-clause (iv), (v), (vi) & (ix) in scheme "Grant-in-aid to Voluntary Organization for Running Hostels for Scheduled Tribe Students" is amended to read as under:—

Clause 6 sub-clause (i) (a)

Benefit under the scheme:—

Financial Assistance in respect of boys/girls

inmates @ Rs. 2,500/- p.m. per inmate for 11

months with 4% increase on 1st of April every

year.

Clause 6 sub-clause (iv)

Benefit under the scheme:—

@ Rs. 21,000/- per month remuneration of full time resident superintendent for 12 months with 4% increase on 1st of April every year.

Clause 6 sub-clause (v)

Benefit under the scheme:—

Honorarium to clerk cum attendant shall be @ Rs. 14,000/- per month for 12 months with 4% increase on 1st of April every year.

Clause 6 sub-clause (vi)

Benefit under the scheme:—

Honorarium to cook shall be @ Rs. 14,000/- per month for 12 months and @ Rs. 12,000/- per month for 12 months to assistant cook with 4% increase on 1st of April every year.

Clause 6 sub-clause (ix)

Benefit under the scheme:—

2 security guards shall be sanctioned for Rs. 13,000/- each per month for 12 with 4% increase on 1st of April every year.

All other clauses in the above mentioned scheme remains unchanged. This amendment shall come into force from the succeeding month from the date of publication of Notification in the Official Gazette.

This issues with the approval of Hon'ble Chief Minister/Finance (Exp.) Department vide their FMS No. 1400094608 dated 14-10-2023.

By order and in the name of the Governor

of Goa.

Dasharath M. Redkar, Director of Tribal

Welfare.

Panaji, 23rd October, 2023.

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