Chandigarh July 6– Haryana Cabinet, which met under the chairmanship of Chief Minister, Mr. Manohar Lal here today, gave approval for one-time settlement scheme to enable recovery of long pending dues on account of External Development Charges (EDC) called “Samadhan se Vikas”. It is modeled on the Central scheme of “Vivad se Vishwas-2020”.

The scheme shall be applicable in respect of full amount outstanding on account of the EDC as well as interest and penal interest. This was announced in the State Budget 2020-21 by the Chief Minister cum-Finance Minister on February 28, 2020.

In case a colonizer deposits 100 percent of the outstanding Principal Amount against EDC as well as 25 percent of the accumulated interest and penal interest, within a period of six months from the date of notification of this scheme, the balance 75 percent of the accumulated interest and penal interest shall be waived off.

In case a colonizer deposits at least 50 percent of the outstanding Principal Amount against EDC as well as 50 percent of the accumulated interest and penal interest, within a period of six months from the date of notification of this scheme, the balance 50 pecent of the accumulated interest and penal interest shall be waived off.

The remaining 50 percent of outstanding Principal Amount shall be recoverable in four six-monthly installments along with interest at the rate of 8 percent per annum on the delayed period and an additional 2 percent interest per annum on the default period.

The first six months period for deposit of first installment shall start from the date of deposit of 50 percent Principal plus 50 percent Interest and Penal interest component.

In case the colonizer does not clear the entire EDC dues within the said two year period, the waiver of balance 50 percent of the accumulated interest and penal interest will stand annulled and the original EDC schedule shall come in vogue. Thus, no major penalty is imposed on the colonizer in case of default of installments within the prescribed two year period for deposit of installments. However, in case any amount of the 50 percent outstanding Principal Amount alongwith interest is not deposited within the prescribed two year period, the colonizer will lose all benefits under this policy and the original EDC schedule applicable before the applicability of present policy shall stand restored and all payments received shall be considered to have been paid against the original EDC schedule.