RFC/PG/1135

RAJASTHAN FINANCIAL CORPORATION
( FINANCE SECTION )
Head Office
Udyog Bhawan,
Tilak Marg,
Jaipur � 302 005.

Ref.No.: RFC/F.13(215)/464 Dated : 05.12.2005

C I R C U L A R

Reg.: State Capital Investment Subsidy Scheme, 1990.

The Government of Rajasthan vide Notification No. F.12 (14)Inds./1/90 dated 17.11.2005 has made amendment in the State capital Investment Subsidy Scheme for Industries, 1990. The Notification issued by the Government of Rajasthan on 17.11.2005 is reproduced overleaf.

All concerned are advised to make necessary amendment in LA-5 in the State Capital Investment Subsidy Scheme, 1990 conveyed vide PG Circular No. 405 dated 22.12.1990.

( R.S.Gupta)
Gen.Manager(Fin.)


Government of Rajasthan
Industries(Gr.I) Department

No. F.12(14)Ind./1/90 Jaipur,Dated 17.11.2005

Sub: Amendment in the State Capital Investment Subsidy Scheme for New Industries, 1990.

The State Government hereby makes the following amendment in the State Capital Investment Subsidy Scheme for new industries 1990 issued vide notification of even number dated 5.9.90 and amended from time to time (hereinafter called �the scheme�).

The following proviso shall be inserted after existing proviso below clause 14(b) of the Scheme:

Provided that in cases where the unit could not remain in regular production for 5 years and is unable to return the subsidy and interest due to reasons indicated below and submits an application for exemption under clause 14 of the Scheme the Commissioner Industries may after having got conducted such enquiry as deemed necessary and after recording reasons for so doing waive the amount of interest on subsidy payable by such unit, and the State Government may waive the principal amount of subsidy payable by such unit under the scheme, on the recommendation of the Commissioner Industries if the Commissioner / the State Government is satisfied that :-

  • The beneficiary unit is under financial hardship and therefore not in a position to make the payment of subsidy and interest for reasons beyond its control. And / or
  • The recovery of subsidy and interest otherwise could cause genuine hardship to the unit.

Every order made under this clause shall be final.

By order,
Sd/-
(Anand Kumar)
Deputy Secretary to Government

 


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