Morung Express News
Kohima | November 17
While there is an ongoing debate around the SARFESAI Act, 2002,which will be tabled during the upcoming 9th session of the Nagaland Legislative Assembly, Chief Minister Neiphiu Rio said the policy along with resolutions will be taken up to improve ease doing of business.
Speaking at the launching programme of the Export Facilitation Cell of IIFT at Kohima on Wednesday, Rio said many entrepreneurs are suffering due to lack of avenues to avail loans, as Nagas cannot mortgage immovable properties because of Article 371 (A).
The decision was taken seeking legal opinions and discussion with the financial institutions, and the latter has accepted the proposal of the government to give loans, Rio informed.
Clarifying on some issues related to the Act, Rio said “in our context, as land cannot be sold to non-Nagas, even if there is a default, properties confiscated by the banks will be auctioned and sold only to indigenous Nagas.”
A policy to this effect, he informed, will be taken up in the upcoming NLA winter session. Hence, he stated that any person who wants to do business can mortgage immovable property with a caution that “this should be consciously done and use funds in a proper manner (judiciously).”
Cadastral survey
Meanwhile, Rio also informed that the government has decided for cadastral survey of municipal and town councils with issuing of patta to land owners and house owners.
This, he said was decided as village issued pattas are not recognised to do things and activities. “One needs to have government issued patta to mortgage and do things” said Rio.
He was optimistic that the exercise would work out and there would be opportunities for entrepreneurs to get funds and work.
The NLA session will be held on November 25 and 26.
