Ranipet companies can now claim compensation for Covid damages

CHENNAI: Companies in Ranipet that have faced losses during the coronavirus lockdown can claim a compensation. The district's Collector Baskarapandian, IAS, has made an announcement.

The compensation would be made through TAHDCO.

An expert committee was formed to study damages of the small and medium business units. The report on the same has been submitted.

On the lines of the report, the State government has formulated a redressal scheme to aid the retail business hit by the pandemic and the resultant lockdown.

According to the scheme, a maximum of Rs 5 crore can be claimed, and 25 per cent of the investment made in procuring machines to the maximum of Rs 25 lakh. The beneficiary becomes eligible, for receiving help through this scheme, if they have completed Class 12 and should be between the age category of 21-55 years.

Units, after announcement of lockdown on March, 23 2020, that are operating under developed technologies and introduced innovations would alone be eligible under this scheme. This scheme would be functional only for a year.

Entrepreneurs can approach manager of the District Industries Centres of Ranipet to enroll into the scheme.