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20 Aug 2011 (02:30:02)
I have taken a loan form Rs. 12 Lacs CC working capital and 8 Lacs machiner term loan under CGTS SME. My project was of manufacturing Prawns Pickles and Fish pickles. Though My project costed 1 Cr. but due to collateral requirement i have to cut down the cost to half the amount 50 Lacs. SBI has accepted the same but could lend me only 20 Lacs out of which working capital is just 12 lacs. also promised me that by six months time we will fund you 20 lacs more to meet your working capital but did not keep up the promise since it was done verbally. I planned according to their promises and had to stop my manufacturing due to in adequate fund. i requested for restructuring of finance but they refuse and said you have not done any transaction. (I could do only 16 lacs total transaction. ) and that they will provide only those who keep good transaction through out year. kindly guide me what is the next step i should do?