THE MAHARASHTRA STATE CO-OPERATIVE COTTON GROWERS'
MARKETING FEDERATION LIMITED
| NO:CTN/SS/CC/98-99/5111 |
Date:
3-11-1998
|
CIRCULAR
SUB.:- Reductionin the rates of carrying charges.
We are pleased to inform to all the concerned that Federation has reduced the rate of carrying charges to the maximum possible extent in the view of the prevailing rate of interest charged by the bankers to their customers. The existing rate of C.C. are given below in table 'A'.
A)|
For
deliveries of
|
From
Ist day
till 30 days |
From
31st day
till 60 days |
From
61st day onwards.
|
|
Spot
|
2.00%
PM
|
2.25%
PM
|
2.50%
PM
|
|
G.S.F.
|
1.75%
PM
|
2.00%
PM
|
2.25%
PM
|
These above rates of CC will applicable upto 12-11-1998.
The revised rate of C.C. given below in table 'B' will be applicable from 13-110-98 for all seasons upto 1997-98 and also for the season 1998-99 fpr a;; tje buyers including Public, Co-operative sectors, etc.
B)|
For
deliveries of
|
From
Ist day
till 30 days |
From
31st day
till 60 days |
From
61st day onwards.
|
|
Spot
|
1.50%
PM
|
1.75%
PM
|
2.00%
PM
|
|
G.S.F.
|
1.40%
PM
|
1.65%
PM
|
1.90%
PM
|
It is further clarified that upto 12-11-98, rates of C.C. will be applicable as shown in Table 'A' and revised rates of C.C. will be applicable from 13-11-98 as shown in Table 'B'.
However, as per provision of Clause No.10 of contracts, Federation reserves rights to resale the cotton at any time after expirty of delivery priod and will act as per provisions of Section 40 and 41 of Maharashtra Raw Cotton (Procurement, Processing and Marketing) Act, 1971 as mentioned at our Cluase No.7 in contract.
All concerned are requested to take a note of the above change in the rates of C.C. and calculate accordingly.
General Manager (S&S).
