Jal sansthan has decided to issue recovery notice to 100 major defaulters who have not paid their water and sewer tax for the past several years. Many homeowners have outstanding dues ranging between Rs 10 lakh and Rs 15 lakh. The department is also disconnecting water and sewer connections of other defaulters.
NEARLY 12,000 property owners in the PJS 8/2 area in Petaling Jaya, Selangor, have defaulted in their assessment tax payment, resulting in some RM8.1mil in total accumulated arrears.
Recovery rate under IBC dropped to 26% in December last year from 33% in previous months. Cumulative recovery since 2016 stood at Rs 3.21 lakh crore. Delays in resolution appear to have significantly impacted the realization in the December quarter, with only Rs 4,281 crore recovered from 79 firms due to long delays in resolution.
A bank executive said any such framework will also need approval from the Reserve Bank of India to ensure there are no breaches of regulatory norms. "That discussion is also on," he said. In 2018, the government included the chairman, chief executive officers and managing directors of public sector banks in the list of individuals who could seek the issuance of LOC against offenders to prevent their escape from the country.
Read about the Punjab government's one-time settlement (OTS) scheme for property tax defaulters. 6,800 property owners availed the scheme on the last day, contributing to a recovery of approximately Rs 2 crore.