SR2 - X Plan Modernisation - Cenex[Revised-_01-02 - Rubber Board

More documents

Recommendations

Info

SR2 – X Plan Modernisation – Cenex 27/06/03 ------------------------------------------------------------------------------------------------------------------------------------------------ 6. Terms and Conditions 1. This scheme will be implemented during the 10 th Five Year Plan Period (i.e. 2002-07). 2. The management committee of the processing factory proposing to avail the financial assistance under these rules shall authorize its Chief Executive to make an application (as per Annexure – 1) and shall pass a resolution (as per Annexure - 2) agreeing to abide by these rules and execute an agreement in the form appended to these rules as Annexure – 3. 3. The processor applying for the financial assistance under the rules shall make an application in the prescribed form (Annexure 1). The application shall be supported by attested copies of the following documents: (i) Processor’s Licence (ii) Articles of Association of the Company/Society. (iii) Audited Financial Results of the factory for the past three years 4. The applicant shall give a detailed proposal for the activities proposed along with the expected results along with recommendations of consultants engaged by the Processor. Board reserves the right to scrutinize the requirement /priority of the proposals of the applicant, and the financial assistance will be based on the decision of the Board on the above. 5. Approval for financial assistance under the scheme shall be considered only if proper evidence with respect to the contribution of the share of finance by the applicant (50% in RPS and co-operative sectors and 75% in private sector) is made available. Page : 4
SR2 – X Plan Modernisation – Cenex 27/06/03 ------------------------------------------------------------------------------------------------------------------------------------------------ 6. For availing the interest subsidy the processor shall take approval of the Board on the various terms and conditions of the credit before signing the loan agreement with the financial institutions. Payment of interest subsidy will be considered for loans availed from nationalised banks. Besides, payment of the interest shall be subject to the following conditions. 1) The interest paid during Xth Plan period only is eligible for financial assistance. 2) The interest subsidy will be released directly to the beneficiary. 3) A certificate from the bank regarding the interest paid has to be produced with the application. 4) Copy of the agreement with the bank, with amendments if any, should be produced with the application. 5) The interest subsidy is applicable only for those loans availed for the procurement of machinery/equipment/works/service under the modernisation scheme. 6) The interest subsidy shall be paid subject to production of an agreement by the applicant in the prescribed format 7. If any subsidy is received from Central Govt / Organizations or any State Govt / Organizations for any of the items for which financial assistance is accepted from Rubber Board under this scheme, such subsidy amount in full will have to be remitted to Rubber Board. Page : 5
Page 1 and 2: SR2 - X Plan Modernisation - Cenex
Page 3: SR2 - X Plan Modernisation - Cenex
Page 17: SR2 - X Plan Modernisation - Cenex

SR2 - X Plan Modernisation - Cenex[Revised-_01-02 - Rubber Board

Create successful ePaper yourself

Delete template?

Save as template?