Information regarding Board and other important Committees

1. Board :

The general superintendence, direction and management of the affairs and business of the Corporation vests with the Board of Directors, consisting of representatives of the State Government, SIDBI, Public Sector Banks, LIC Insurance Companies and other Institutions owned and controlled by Central Govt. / State Govt. and other genuine share holders. The policies of the Corporation are executed by the Chairman & Managing Director aided by Executive Director and other officers of the Corporation.

2. Executive Committee :

The Executive Committee is constituted by the Board; for discharging various functions as prescribed or delegated to it by the Board.

With a view to rederess the grievances of the entrepreneurs, provide adequate and timely relief and to decide each case on merit Grievance Rederessal Committees called Empowered Settlement Committees have been constituted :-

3. DISTRICT LEVEL COMMITTEE :

4.        HEAD OFFICE LEVEL COMMITTEE (HOLC) :

Other DGM(s) may also be nominated by CMD from time to time.

HOLC will be empowered to entertain cases having financial implication upto Rs. 50.00 lakh and appeals against the decision of DLC.

5.      SPECIAL HEAD OFFICE LEVEL COMMITTEE (SPL. HOLC) :

The jurisdiction of Special HOLC shall be as under:-

1. Appeals against decisions of HOLC (there will be only one appeal) will lie with Spl. HOLC. Appeals against fresh decisions of Spl. HOLC will lie with SLC.
2. Cases having sacrifice amount of more than Rs. 50 lakh and upto Rs. 1 crore.
3. Granting extension in time, waiver of interest etc. in respect of settled    cases by HOLC.
4. Redressal of all types of grievances of entrepreneurs and grant of relief, any dispute related to interest, MRV etc.
5. Other matters where loanee concerns are aggrieved by any order or decision of the CMD.
   

  6. STATE LEVEL COMMITTEE (SLC) :

Senior most Officer – CMD, RFC / RIICO will chair the meeting of the Committee.

The Committee will consider the cases where sacrifice amount is more than Rs. 1 crore. Besides this, appeals against decision of Spl. HOLC; but for the appellate cases of HOLC; will be considered by this Committee (as only one appeal is allowed).