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Government of Rajasthan
Industries (Group-I) Department

No. F. 15 (IPP) Ind./I/2004      Jaipur, Dated : August 31, 2004.

Guidelines for Identification/Revival of Running/Closed Sick Industrial Units under Rajasthan Investment Promotion Scheme, 2003

Pursuant to order No.F.4(18)FD/Tax Div./2001-L dated 4.8.2004 (Annexure-I), issued by the Finance Department (Tax Division)), Government of Rajasthan (copy enclosed) amending the Rajasthan Investment Promotion Policy-2003 (hereinafter referred to as ‘the Scheme’) and in order to identify the sick industrial units under clause 4(tt), revive sick industrial units under clause 4(rr) and to determine the eligibility in cases of sick industrial unit for grant of benefit under clause 5A of the scheme, the following guidelines and procedures are being prescribed :

1.  Publicity & Time Frame

It is enjoined upon all concerned departments/agencies that wide publicity is to be given to the order dated 4.8.2004 of the Finance Department, through various industries associations and media. It has to be amply clarified that all such industrial units which qualify to be declared sick under clause 4(tt)(i) of the Scheme should submit their application in the prescribed format, appended hereto at Annexure-II positively on or before 30.9.2004, failing which their applications will not be entertained.

2.  Competent Authority for Declaring Unit Sick

The authority to decide whether the units are covered under clause 4(tt) of the Scheme shall be the appropriate screening committee mentioned under clause 6 of the scheme. After seeking approval of the appropriate screening committee the Member Secretary shall declare the unit sick.

3.  Qualifications for Sickness

Under clause 4(tt)(i), the following RBI guidelines should be considered as basis for declaring units sick:

a) any of the borrowal accounts of the unit remains substandard for more than six months i.e. principal or interest, in respect of any of its borrowal accounts has remained overdue for a period exceeding one year. The requirement of overdue period exceeding one year will remain unchanged even if the present period for classification of an account as sub-standard, is reduced in due course,

OR

b) there is erosion in the net worth due to accumulated cash losses to the extent of 50 per cent of its net worth during the previous accounting year,

AND

c)  the unit has been in commercial production for at least two years.

Information in Proof of Sickness

The above criteria should have been fulfilled by the industrial units eligible to be declared sick before 1.4.2004. For determining the fulfillment of criteria listed at (a) & (b) above, the following information would be required:

(A)   For units preparing Balance Sheet—Audited Balance Sheet/Profit & Loss Account for the years during which the borrowal accounts of the unit became and remained sub-standard for more than 6 months or the cash losses started accumulating, leading to erosion of the net worth to the extent of 50% in the preceding accounting year. The previous accounting year as per point (b) of the above guidelines 2002-03.

(B)   For units not preparing Balance Sheet—In case the units are unable to furnish the Audited Balance Sheet/Profit & Loss Account, a certificate from the Chartered Accountant, duly certifying sickness as per the above RBI guidelines is to be obtained from the applicant.

(C)   For determination of the status of Borrowal Account—In addition to above, to determine the status of borrowal accounts as being sub-standard from more than 6 months, or erosion in the net worth to the extent of 50%, the following information is to be obtained/verified and analyzed by the authority declaring the unit sick under Clause 4(tt)(i) of the scheme :

· Name of the Financial Institutions with address and telephone number :

· The date of sanction of loan.

· The date of occurrence of first default.

· The date from which the account has become sub-standard.

(D)   For determining the fulfillment of condition (c) of RBI Guidelines—In order to determine whether the unit has been in commercial production for at least two years to fulfill the criteria mentioned at condition (c) at para no. 3 the Audited Balance Sheet/Profit & Loss Account/C.A. Certificate/declaration by the unit/other documentary evidence like electricity bills/deposition of tax/Sales bills etc. is to be obtained.

4.  Processing of Applications

It is further clarified that a register is to be maintained by the Member Secretary of the appropriate screening committee wherein unit-wise information such as name and address of the applicant unit, date of filing the application, date of verification of the facts and details, the date on which the case was submitted before the appropriate screening committee, date of declaration of the unit as sick and date of initiation of revival process are to be mentioned. It is further clarified that the member secretary is not to wait for bunch of applications to arrive before disposing off the cases being received. As and when the application is received, the verification is to be done immediately and the cases shall be put up before the appropriate screening committee for taking decision.

5.  Industrial Units already declared Sick before 1.4.2004

1. Such industrial units which have already been declared sick by the ‘District Level Sick Units Identification Committees’ and holding valid sickness certificates issued by GM, DICs shall be automatically deemed to be covered under clause 4 (tt) (i) of the scheme. Such units will not be required to apply afresh to be covered under clause 4 (tt) (i) of the scheme. Moreover, the member secretary of the appropriate screening committee shall automatically enter the details of all such units in the register, mentioned at para 4 above. Since the validity of sickness certificates issued by the GM, DICs on the basis of approval of the ‘District Level Sick Units Identification Committees’ is only one year, all such units which had been issued sickness certificates, once, and which are no longer valid, will have to apply afresh to the competent authority for declaring unit sick, as mentioned at para 2 above, for getting themselves declared sick under clause 4 (tt) (i) of the scheme.

2. As regards fulfillment of conditions of clause 4(tt)(ii), such industrial units of the State, which have been declared sick before 1.4.2004 by BIFR under the provisions of Sick Industrial Companies Act, 1985, the relevant order of BIFR itself declaring/acceptance of unit to be sick shall suffice. However, the member secretary of the appropriate screening committee shall record the details of such units in the register to be maintained by him, as mentioned at para 4 above.

Note:    Such industrial units which have either filed a reference before BIFR but have not been declared sick before 1.4.2004 or have failed to file the reference may exercise the option of withdrawing their reference from BIFR and submitting their application before the appropriate committee for getting themselves declared sick under clause 4(tt)(i) of the scheme.

6.  Procedure for Industrial Units sold by

RIICO/RFC/Central Financial Institutions

So far as the clause 4(tt)(iii) of the scheme is concerned, RIICO/RFC/Central Financial Institutions (like IDBI, IFCI, SIDBI etc.) are enjoined upon to furnish the list of such industrial units, which had been taken over by them before 1.4.2004 and sold to a new management on or after 1.4.2004 along with the documentary evidence of taking over the possession and selling to new management to the member Secretary of the appropriate screening committee. Member Secretary of the appropriate screening committees, upon receipt of information regarding such units shall enter the details thereof in a separate register, to be maintained for the purpose and such units shall be treated automatically covered under the definition of sickness.

In order to decide if a unit is fulfilling the eligibility criterion of clause 5A of the scheme, information such as peak employment in the preceding 3 years from the date it was taken over by RIICO/RFC/Central Financial Institution, current level of employment, expected level of employment along with the date on which it is likely to be achieved, in case the unit claims to have already achieved 50% level of employment as per the conditionality mentioned under clause 4 (rr) of the scheme, the date of achieving it (to be verified selectively on random basis) and an action plan for achieving 100% level of employment as per the conditionality mentioned under clause 4 (rr) of the scheme, are also to be submitted by the unit and to be entered in the register mentioned above. In cases where the units do not claim to have achieved 50% employment level, of the maximum level of employment attained in the preceding 3 years, from the date they were taken over by RIICO/RFC/Central Financial Institutions, the new management shall be required to submit an undertaking to the effect that they shall fulfill the condition of employment generation as per the conditionality mentioned under clause 4 (rr) of the scheme.  For the entitlement certificate for the benefit of interest subsidy and electricity duty,  the units shall submit their applications in the prescribed format, appended hereto at Annexure-III. If the units fulfill the eligibility criterion of clause 5A of the scheme, an entitlement certificate (Annexure-IV), for the benefit of interest subsidy as provided under clause 7 and the benefit of exemption in electricity duty as provided under clause 8 of the scheme, may be issued by the member secretary after approval of the appropriate screening committee.

Note:    The new management purchasing a unit from any of the agencies noted above, will have the option of submitting their applications for being covered under clause 4(tt)(iii) of the scheme directly to the member secretary of the appropriate screening committee with necessary documents such as proof of purchasing the unit on or after 1.4.2004 and also the documentary proof that the unit had been taken over by any of the agencies mentioned above prior to 1.4.2004.

7.  Determination of fulfillment of

clause 4(rr) and 5A of the Scheme

As regards the fulfillment of the criteria stated under clause 4(rr) and 5A of the scheme, the applicant unit will have to provide a proof of re-commencement of commercial production or proposed date of the commencement of commercial production in case of closed sick industrial units. In case of closed sick industrial units sold by RIICO/RFC/Central Financial Institutions, the concerned financial institutions shall certify the date of re-commencement of commercial production, for being treated as covered under clause 5A of the Scheme. The member secretary may get the facts verified on selectively random basis. The definition of commencement of commercial  production shall be the same as defined under clause 4(b) of the Scheme. At the same time, the member secretary of the appropriate screening committee has also to adjudge the fulfillment of conditionality of “providing employment to the extent of 50% in the first two years of the maximum level of employment attained in the preceding 3 years from the date of its declaration as a sick industrial unit and 100% within 5 years”, by obtaining the following information :

· Peak employment in the preceding 3 years from the date, it was declared sick/taken over by RIICO/RFC/Central Financial Institutions.

· Current level of employment

· Expected level of employment along with the date on which it is likely to be achieved.

· In case the unit claims to have achieved 50% level of employment as per the conditionality mentioned above, the date of achieving it (to be verified selectively on random basis). In cases where the units do not claim to have achieved 50% employment level, of the maximum level of employment attained in the preceding 3 years, from the date of their declaration as sick industrial units, they shall be required to submit an undertaking to the effect that they shall fulfill the condition of employment generation as per the conditionality mentioned under clause 4 (rr) of the scheme.

· A road map for achieving 100% level of employment as per the conditionality mentioned above.

Note:  1.   For arriving at the figure of peak employment mentioned at para 9 and 10 above, the unit has to submit its registers maintained under the relevant provisions of the Labour Laws/Factories and Boilers Act and  provident fund receipt in respect of employees, wherever applicable. In cases of Small Scale and Tiny Industries, where no such record is available, mere self certification of the peak level of employment by the applicant unit, shall be deemed sufficient.  However,  The member secretary of the appropriate screening committee may ask such units to submit an undertaking regarding the correctness of the peak employment figures, claimed by the unit, if the unit has submitted a certificate which states peak employment figures of less than 5 in cases of small scale units and 2 in cases of tiny units.

    2.   In order to claim the benefit of interest subsidy and the exemption in electricity duty, both the closed sick industrial units and the running sick industrial units shall have to submit their applications in the prescribed format, appended hereto at Annexure-III. The member secretary of the appropriate screening committee shall issue the entitlement certificate in the format appended hereto at Annexure-IV.

8.  Eligibility criteria under clause 5A of the Scheme

for closed/running sick industrial units

The first criterion to adjudge whether the closed/running sick industrial unit has started the process of revival and has attained the eligibility for grant of the benefit of interest subsidy as provided under clause 7 and the benefit of exemption in electricity duty as provided under clause 8 of the scheme, the appropriate screening committee shall obtain and analyze the documentary evidence in support of a minimum borrowing (term loan) of Rs. 10 lacs or having made an investment of at least Rs. 10 lacs in land and building, calculated on the basis of DLC/RIICO rate for land, and Rs. 3228/- per sq. metre (Rs.300/- per sq. ft.) for building. In cases of units taken over before 01.04.2004 and sold on or after 01.04.2004 to new management by RIICO/RFC/Central Financial Institutions, the selling price of the unit shall be the basis of assessment of the sold assets for arriving at the value of the land and building and the DLC/RIICO rate for land and building, as mentioned above, shall not be applied in such cases. The minimum eligibility criterion of term loan of Rs. 10 lacs shall also include the term loan granted against the selling price to the new management by the Unit Selling Organization or any other loan sanctioned by RIICO/RFC/Central Financial Institutions.

However, it is clarified that the term loan shall include the selling price of the unit as well as the additional term loan taken by the new management for the revival of the purchased unit. If the quantum of such term loan (the selling price turned as deferred term loan plus the term loan taken for revival) is to the tune of Rs. 10 lacs or more, the unit becomes eligible for grant of 50 % exemption from Electricity Duty.

It is further clarified that for the calculation of the benefit of 5 % interest subsidy, only the term loan obtained for the revival of the unit is to be considered.

Illustrations :

1. A unit’s selling price (sold by RIICO/RFC/Central Financial Institutions) is Rs. 3 lacs. The new management takes a total term loan of Rs. 12 lacs in order to cover the selling price of Rs. 3 lacs and Rs. 9 lacs for the revival of the unit. As the threshold limit of Rs. 10 lacs has been exceeded, the unit becomes eligible for the benefit of 50 % exemption in Electricity Duty. But for the benefit of 5 % interest subsidy the amount to be considered shall be the total term loan minus the selling price of the unit i.e. Rs. 12 lacs – Rs. 3 lacs = Rs. 9 lacs only.

2. A unit’s selling price (sold by RIICO/RFC/Central Financial Institutions) is Rs. 15 lacs. The new management takes a total term loan of Rs. 20 lacs in order to cover the selling price of Rs. 15 lacs and Rs. 5 lacs for the revival of the unit. As the threshold limit of Rs. 10 lacs has been exceeded, the unit becomes eligible for the benefit of 50 % exemption in Electricity Duty. But for the benefit of 5 % interest subsidy the amount to be considered shall be the total term loan minus the selling price of the unit i.e. Rs. 20 lacs – Rs. 15 lacs = Rs. 5 lacs only.

3. A unit’s selling price (sold by RIICO/RFC/Central Financial Institutions) is Rs. 12 lacs. The new management takes a term loan of Rs. 12 lacs only in order to cover the selling price of Rs. 12 lacs but no term loan for the revival of the unit. As the threshold limit of Rs. 10 lacs has been exceeded, although the unit becomes eligible for the benefit of 50 % exemption in Electricity Duty but it shall not be entitled to the benefit of 5 % interest subsidy as there would be no new additional investment.

4. A unit’s selling price (sold by RIICO/RFC/Central Financial Institutions) is Rs. 9.90 lacs. The new management takes a term loan of Rs. 9.90 lacs only in order to cover the selling price of Rs. 9.90 lacs but no term loan for the revival of the unit. As the threshold limit of Rs. 10 lacs has not been exceeded, the unit becomes disentitled to both the benefits of 50 % exemption in Electricity Duty and 5 % interest subsidy.

In the cases of running sick industrial units, the following information is to be obtained from the applicant units for determining the fulfillment of clause 5A of the scheme  :

· Date of sanction of approved rehabilitation package and implementation thereof in cases of units declared sick by BIFR before 1.4.2004 under the provisions of Sick Industrial Companies Act, 1985. It is also to be verified by the member secretary of the appropriate screening committee, whether the implementation of revival package has commenced before 1.4.2005 or not?

· For running sick industrial units covered under clause 4(tt)(i) and (iii) of the scheme, the enhancement in the tax deposition level, production level and the employment level is to be duly verified by the appropriate screening committee by way of obtaining documentary evidence for the same. This verification shall be done by the member secretary of the appropriate screening committee selectively on random basis.

9.  Interpretation/modification

In case of any doubt regarding interpretation  of any of the provisions mentioned above and in case where any modification is required in the above guidelines, the State Government in Industries Department shall be the competent final authority to do so.

By order

(Naveen Mahajan)

Deputy Secretary to the Government

No. F. 15 (IPP) Ind./I/2004      Jaipur, Dated : August 31, 2004.

Copy forwarded to the following for information and necessary action :

1. CMD, RIICO, Udyog Bhawan, Tilak Marg, Jaipur.

2. The Principal Secretary Finance, Government of Rajasthan, Jaipur.

3. Commissioner, Investment & NRIs, BIP, Udyog Bhawan, Tilak Marg, Jaipur.

4. The Secretary Industries & State Enterprises, Government of Rajasthan, Jaipur.

5. The Secretary Industries (SSI), Government of Rajasthan, Jaipur.

6. Commissioner Industries, Government of Rajasthan, Jaipur.

7. CMD, RFC, Udyog Bhawan, Tilak Marg, Jaipur.

8. The Commissioner Commercial Taxes Department, Jaipur.

9. The District Collector --- (All)

10. The General Manager, DIC --- (All)

11. S.A. to Hon’ble Minister for Industries, Government of Rajasthan, Jaipur.

12. P.S. to Principal Secretary, Industries, Government of Rajasthan, Jaipur.

Deputy Secretary to the Government

Benefits available to the sick industrial units

Apart from the interest subsidy at the rate of 5% of the documented rate of interest and the exemption to the extent of 50% in electricity duty for a period of 7 years, available under the scheme to sick industrial units getting revived, the following additional benefits shall be available to sick industrial units, being revived through the efforts of the entrepreneurs i.e. the benefits mentioned below will not be available to the unit which were taken over by RIICO/RFC/Central Financial Institutions prior to 1.4.2004 and have been sold to new management on or after 1.4.2004:

(i) The State Government has decided to waive the interest and penalty and grant six half yearly installments for payment of outstanding tax prior to revival in respect of Sick Industrial Units as defined in Rajasthan Investment Promotion Policy, 2003, provided the process of revival starts before 1.4.2005. The authorities of the Commercial Taxes Department shall sanction the benefit on receipt of recommendation from the competent authority under the provisions of Rajasthan Investment Promotion Policy, 2003.

(ii) The outstanding dues as on date of request for revival shall be allowed to be paid in six half yearly installments and first half yearly installment to be paid before reconnection.

(iii) On the outstanding dues as per para-(i), no penalty and interest shall be levied.

(iv) The minimum charges for the closure period if any, prior to the date of request for revival and during the period of sickness shall be waived. The closure period shall be verified by the Financial Institution/Industries Department as the case may be.

The above benefits would be available to units under the provisions of the orders issued by the Finance Department and the Department of Energy bearing number and date as below:

No. F.4(67)FD/Tax/2004-C dated: 12.7.2004 issued  by the Finance Department, Tax Division, Government of Rajasthan (Annexure-V)

No.JP-Discom/Dy.CE(C&P)SE(C)/F. 4(247)/D. 897 dated: 5.8.2004 issued by Jaipur Vidyut Vitran Nigam Limited (Annexure-VI)

Annexure-I

GOVERNMENT OF RAJASTHAN

FINANCE DEPARTMENT

(TAX DIVISION)

No. F.4(18)FD/Tax-Div/2001-L    Dated: 4-08-2004

ORDER

In partial modification of order No. F. 4(18)FD/Tax-Div/2001 dated 28-7-2003 (amended from time to time)) the Government hereby rescinds this department’s order No. F. 4(18)FD/Tax-Div/2001-K dated 12-07-2004 and makes the following amendments in the Rajasthan Investment Promotion Policy, 2003 (hereinafter referred to as ‘the Scheme’:

AMENDMENT

1. In clause 4 of the Scheme after the sub-clause (r) and before the sub-clause(s) following new sub-clause (rr) shall be inserted:

“(rr)  “Revival of a sick industrial unit” means-

re-commencement of production by a closed sick industrial unit or availment of any benefit under clause 5A in case of running sick units

AND

providing employment to the extent of 50% in the first two years, of the maximum level of employment attained in the preceding 3 years from the date of its declaration as a sick industrial unit, and 100% within five years.”

2. In clause 4 of the Scheme after the sub-clause (t) and before the sub-clause (u) following new sub-clause (tt) shall be inserted:

“(tt)   “Sick Industrial Unit” means-

(i) an industrial unit qualified to be a sick unit before 1-4-2004 as per the guidelines issued by RBI from time to time but to be declared so before 30-11-2004 as per the procedure to be prescribed in this behalf by the Industries Department;

OR

(ii) an industrial unit which has been declared sick before 1-4-2004 by the Board for Industrial and Financial Reconstruction (BIFR) under the provisions of the Sick Industrial Companies Act, 1985;

OR

(iii)    an industrial unit, which has been taken over before 1-4-2004 and sold on or after 1-4-2004 to a new management by RIICO/RFC/Central Financial Institutions.”

3.  After the existing clause 5 and before clause 6 of the Scheme following new clause 5A shall be inserted:

“5A.  Eligibility in case of sick industrial units.-Notwithstanding anything contained contrary to the provisions of the Scheme, if the owner himself or the new management in case of units purchased from RIICO/RFC/Central Financial Institutions starts the process of revival of a sick industrial unit, as per the guidelines prescribed by the Industries Department in this regard, before 1.04.2005, it shall be eligible under the provisions of the Scheme to claim the benefit of the interest subsidy as provided under clause 7 and the benefit of exemption in electricity duty as provided under clause 8 of the Scheme.”

By Order,

Sd/-

(Ajitabh Sharma)

Deputy Secretary to the Government

Copy forwarded to the following for information and necessary action:-

1. Secretary to Hon’ble Chief Minister (Finance Minister).

2. P.S. to Hon’ble Minister, Industries Department.

3. Principal Secretary, Finance.

4. Principal Secretary, Industries.

5. Secretary, Energy/Finance (Revenue/Finance (Expenditure).

6. Commissioner, Commercial Taxes/Industries Department.

7. Chairmn & Managing Director, RIICO/RFC, Jaipur.

8. Managing Director, Rajasthan Small Industries Corp.

9. Director, Public Relation/Finance (Budget).

10. Guard File.

Sd/-

Deputy Secretary to the Government

 

Annexure-II

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Annexure-III

FORM 8

{See Clause 5A}

Application for Interest Subsidy and Exemption in Electricity Duty {in case of Sick Industrial Unit under clause 4(tt) and clause 4(rr) }

(Under Rajasthan Investment Promotion Scheme, 2003)

From:

M/s. _____________________________

_________________________________

_________________________________

To,

Commissioner Industries,

Rajasthan/

General Manager,

District Industries Centre,

________________

Sub:  Regarding Interest Subsidy and/or Exemption in Electricity Duty.

I _________________________(Name of the applicant) S/o _________________, aged__________ hereby apply for grant of the Interest Subsidy on term loans availed for revival of _________________ (Name of the Closed/Sick Unit) ________and Exemption of 50% from Electricity Duty, due to the unit on account of starting the process of revival and submit as under:

1. Name and complete address of the Closed/Sick Unit 

(under revival process)

2. Date of declaration of Sickness

3. Name of the Agency declaring the unit Sick

4.  In cases of units sold by RIICO/RFC/Central Financial Institutions:

a)  the date of taking possession of the old unit

b) the date of sale of the unit to the new management

5.  Date of re-commencement of production in

Case of closed Sick Unit.

6.  Depreciated net worth of the unit on

the date of its declaration as a sick unit

7.  Total project cost of the revival package
as approved by the financial institutions/banks

8.  (a)    Name of the term loan sanctioning Financial Institution/Bank, along with the amount: 

Name

Date of Sanction

Amount

(i)

(ii)

(iii)

(i)

(ii)

(iii)

(i)

(ii)

(iii)

(b)    The revival is being done by the unit through own resources as certified by …………………………….. (name the Chartered Accountant).

9.  Proposed new investment, if any under the following heads:

(a)    Land and Building   Rs.

(b Plant and Machinery    Rs.

(c)    Others    Rs.

10.    Peak employment figure in the preceding
3 years from the date, it was declared
sick/taken over by RIICO/RFC/
Central Financial Institutions

11.    New employment generated or likely to be generated

a)  Current level of employment

b) Expected level of employment along with
the date on which it is likely to be achieved.

i)   In case the unit claims to have achieved
50% level of employment of the peak
employment given at point 9 above,
the date of achieving it

ii)) In case where the unit does not claim to have
achieved 50% employment level of the figure
mentioned at point 9 above, a road map for
doing the same as well as achieving 100% level
of employment

It is requested to kindly grant:

a)  5% interest subsidy

b) 50% exemption in electricity duty

(strike out which ever is not applicable)

I hereby declare that I have fully understood the provisions of the Rajasthan Investment Promotion Scheme, 2003 and agree to comply with the same. In case of availing excess benefits or non-compliance with the provisions of clause 4(rr) and 5A of the Scheme, I undertake to repay whole of the amount actually availed under the scheme and shall also be liable to pay interest at the rate of 18% per annum on such amount.

List of documents attached:

i)

Rehabilitation package duly approved/sanctioned by the related financial institutions/banks/BIFR/ AAIFR.

Yes/No

ii)

Copy of sanction of loan from Financial Institution/Bank in cases where term loan has been sanctioned.

Yes/No

iii)

Certificate of Chartered Accountant in case the revival process is financed through owned resources.

Yes/No

iv)

Copy of the order of GM, DIC/Commissioner, Industries/BIFR declaring the unit sick.

Yes/No

v)

In cases of units sold by RIICO/RFC/Central Financial Institutions to a new management, a copy of the sale agreement executed by the unit selling agencies.

Yes/No

vi)

An undertaking for achieving the road map achieving 50% level of employment in the first two years and 100% within five years of the maximum level of employment attained in the preceding 3 years from the date of its declaration as a sick industrial unit/the unit was taken over by RIICO/RFC/Central Financial Institutions.

Yes/No


Dated: …………………….     Signature of Applicant

Status

Name of the venture

VERIFICATION

I …………………….…….. hereby certify that the particulars stated above are true and correct and nothing has been concealed.

Signature of Applicant

with status

 Annexure-IV

FORM 9

[see Clause 4(rr) and 5A]

Entitlement Certificate

(For interest subsidy and exemption in electricity duty)

1.

Book Number:

.

2.

Serial Number:

.

3.

Name of the Applicant with status:

.

4.

Principal place of business:

.

5.

Branches or other place of business, if any :

.

6.

Date on which eligibility determined:

(a) 5% Interest Subsidy

(b) 50% Exemption in electricity duty

.

7.

Basis for eligibility under RajInvest-2003):

Start of the process of revival of sick industrial unit as per clause 4(rr) and 5A of the Scheme

.

NOTE: 1.      The maximum amount of interest subsidy shall not exceed 50% of the State and the Central Sales Tax paid by the applicant.

2. This certificate is liable to amendment / suspension / revocation, if obtained on misrepresentation or concealment of facts or by fraud or on breach of any of the terms and conditions, mentioned in the relevant notification.

3. This certificate shall be valid for a period of seven years  from the date of re-commencement of production / the start of the process of revival of the sick industrial unit.

4. This certificate may be revoked by the issuing authority in case the applicant violates any of the conditions of the Scheme or the certificate..

Place:

Date:

Member Secretary

State Level Screening Committee /

District Level Screening Committee

Annexure-V

GOVERNMENT OF RAJASTHAN

FINANCE DEPARTMENT

TAX DIVISION

No. F.4 (37) FD/Tax/2004-C Jaipur, July 12, 2004

ORDER

Under Rule 29 of the Rajasthan Sales Tax Rules, 1995, there is a provision for granting instalments when the dealer is not in a position to make payment of demand outstanding against him under the Rajasthan Sales Tax Act, 1994 and the Central Sales Tax Act, 1956. The State Government has decided to waive the interest and penalty and grant six half yearly instalments for payment of outstanding tax prior to revival in respect of Sick Industrial Units as defined in Rajasthan Investment Promotion Policy, 2003, provided the process of revival starts before 1-4-2005. The authorities of the commercial Taxes Department shall sanction the benefit under this Order on receipt of recommendation from the competent authority under the provisions of Rajasthan Investment Promotion Policy-2003.

By Order,

Sd/-

(Ajitabh Sharma)

Deputy Secretary to Government

Copy forwarded to the following for information and necessary action:-

1. Secretary to Chief Minister (Finance Minister)

2. Commissioner, Commercial Taxes Department, Jaipur

3. PS to Principal Secretary, Finance

4. PS to Principal Secretary, Industries

5. PA to the Finance Secretary (Revenue)

6. PA to the Deputy Secretary, Finance (Tax)

7. Guard File

Sd/-

Deputy Secretary to Government

Annexure-VI

JPR5-217

(Revised Order JPR5-216)

JAIPUR VIDYUT VITRAN NIGAM LIMITED

(Office of the Dy. Chief Engineer (C&P)

No.JP-Discom/Dy.CE(C&P)/SE(C)/F.4(247)/D-897  Dt. 05.8.04

ORDER

Sub:  Concession package to be allowed for revival of sick industries.

Due to continuous recession in the industrial sector in the State a number of industrial units have become sick or closed. Due to closure of such industries their connections have also been disconnected by the Discoms due to non-payment of energy bills. Presently such disconnected consumers are required to be revived in the wider interest of the State, consumers and Discoms.

In pursuance of the announcement in the Budget Speech for 2004-05 if the industrial unit is revived by the entrepreneur himself, following concessions are hereby allowed for disconnected industrial consumers and other sick industries falling under the definition of sick industries for facilitating their revival and restoration of connection.

1. The outstanding dues as on date of request for revival shall be allowed to be paid in six half yearly instalments and first half yearly instalment to be paid before reconnection.

2. On the outstanding dues as per para-1, no penalty and interest shall be levied.

3. The minimum charges for the closure period if any, prior to the date of request for revival and during the period of sickness shall be waived. The closure period shall be verified by the Financial Institution/Industries Department as the case may be.

List of sick industries indicating the period of sickness/closure in this regard shall be provided by the Industries Department.

Such consumers shall be required to pay normal security as per rules besides ensuring payment of regular energy bills.

Such concessions shall not be allowed to consumers having pending court cases for their dues/or security in any Court of Law, Consumer Forum/Commission/MRTP etc. unless withdrawn.

Strict adherence of payment should be made by industries. In case of default in payments as per concession package allowed aforesaid, the connection shall be disconnected forthwith and facility of concessions allowed shall be withdrawn and consumer will be liable to pay the dues in normal course. In deserving cases, however, concerned CE(O&M) would have discretion to grant a grace period of 15 days. The Managing Director, however shall have full power for extension in grace period in such cases.

Sd/-

(R.G. Gupta)

Managing Director

Copy submitted/forwarded to the following for information & necessary action:-

1. The Chief/Dy.Chief Engr. (O&M/MM/M&P), Jaipur Discom, Jaipur.

2. The F.A.& C.O.A., Jaipur Discom, Jaipur.

3. The Addl. Supdt. Of Police (Vigl.), Jaipur Discom, Jaipur.

4. The Chief Personnel Officer, Jaipur Discom, Jaipur.

5. The Chief Accounts Officer, Jaipur Discom, Jaipur.

6. The Dy. Chief Engineer/Supdtg. Engineer (Power), RIICO, Jaipur.

7. The Supdtg. Engineer ( ), Jaipur Discom, __________.

8. The Secretary (Admn.), Jaipur Discom, Jaipur.

9. The Sr. AO/AO/AAO ( ), Jaipur Discom, Jaipur.

10. The Executive Engineer ( ), Jaipur Discom, __________.

11. The Executive Engineer (     ), Jaipur Discom, __________.

alongwith 15 spare copies for sending the same upto
AENs/JENs/AROs/Accountants level under his jurisdiction.

12. The Executive Engineer (Griev.)., Jaipur Discom, Jaipur.

13. The Company Secretary, Jaipur Discom/RRVPNL, Jaipur.

14. TA/PA to MD, Jaipur Discom, Jaipur.

15. PA to MD, Jodhpur/Ajmer Discom, Jodhpur/Ajmer.

16. PS to Hon’ble Energy Minister, Rajasthan, Jaipur.

17. P.S. to Secretary (Energy), Govt. of Rajasthan, Jaipur.

18. The Land Acquisition Officer, Jaipur Discom, Jaipur.

19. The Public Relations Officer, Jaipur Discom, Jaipur.

20. Sr. Accounts Officer (FP-5), A.G. Audit, Shed No. 14/1 Jaipur.

21. Sr. Accounts Officer (CAW-III), A.G. Audit, Shed No. 4/1, Jaipur.

Sd/-

Dy. Chief Engineer (C&P)

 

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