After five decades, state co-op bank pays rent to sugar factory

Ponda: The Goa State Cooperative Bank has finally begun paying rent for the premises they have been using for around five decades within the campus of Sanjivani Sugar Factory in Dharbandora.
A branch of the bank was opened within the campus soon after the factory was started but it never paid any rent to the factory. The factory was inaugurated on February 12, 1973.
Factory administrator Satej Kamat, who compelled the bank to pay the rent, said the factory has had no income since it stopped the manufacture of sugar in 2020, and that this amount could be greatly beneficial to it.
The bank began paying Rs 8,500 per month. This includes Rs 6,000 towards rent, Rs 2,000 towards electricity charges and Rs 5,00 towards the potable water being used by the bank staff.
Kamat said that he was surprised to know that the bank had not paid any rent to the factory despite using the premises for commercial activity.
“The bank has been reluctant to pay rent for the past period, but it has started paying from October, this year,” Kamat told TOI.