CNCCI welcomes cabinet’s decision on Sarfaesi Act

Dimapur, Feb. 19 (EMN): The Confederation of Nagaland Chamber of Commerce and Industry (CNCCI) has welcomed the unanimous decision of the state cabinet, irrespective of party affiliation, for agreeing to form a committee with regards to the Sarfaesi Act and its implementation in Nagaland.

An update from CNCCI its chairman Dr. Khekugha Muru and the general secretary Dr. Seyievilie Mor have termed the decision of the state cabinet as ‘path breaking’ particularly for the business community especially post the Covid-19 pandemic.

It mentioned that CNCCI had apprised the government through a representation as well as on various important meetings on the need for urgent implementation of the Act which was enacted by the parliament way back in 2002.

While lauding the NLA for taking the issue, CNCCI further appealed to the government to constitute a committee at the earliest to expedite and take forward the issue on a priority level. It further appealed to all the stakeholders to cooperate and understand the need for a policy change and reformation in the existing system when it comes to the economy, land and banking sector of the state.