Chandigarh, March 4 -- Punjab Government has taken a significant step to revive the state's industrial sector by introducing a One-Time Settlement (OTS) scheme aimed at resolving decades-old disputes. The decision, approved by the state Cabinet on Monday, is expected to benefit 1,145 industrialists across Punjab. The scheme, which can be availed until December 31, 2025, addressed long-pending issues related to enhanced land costs and delayed principal payments, offering a fresh start to businesses burdened by financial and legal challenges.
The OTS scheme applies to defaulter plot holders whose original allotments were issued on or before January 1, 2020. It covers industrial plots, sheds, and residential plots in Industrial Focal Points d...