|S E R
V I C E S
Audhyogic Nivesh Protsahan Yojana of U.P. Govt.
Industrial Investment Promotion Scheme of State Govt. (Audhyogik Nivesh Protsahan Yojna)
In order to bridge the gap in working capital in initial years of the large & medium scale units State Govt. has formulated a scheme known as Audyogik Nivesh Protsahan Yojna in the year 2003. UPFC has been nominated alongwith PICUP as Operating Agency for implementation of the said scheme. The salient features of the scheme are as under :-
1. ELIGIBILITY :
Under this scheme Interest free loan is granted to eligible Mega units which have invested ` 5.00 Crores or more in fixed assets for setting up new unit in Food Processing or live stock sector or ` 10.00 Crores or more in any sector in Bundelkhand/Purvanchal districts of the State or ` 25.00 Crores or more in any sector in any other districts & the date of first sale from above new capital investment is on or after 11.3.2003.
UPFC shall grant the Interest free loans to the eligible Mega units as per following limits of the new capital investment made by them :
1. Food processing or Live stock units New capital investment
2. Electronic units in any district New capital investment
3. Purvanchal & Budelkhand Districts New capital investment
4. Other than above in Any other sector of Distt. New capital investment
UPFC can grant loans under the scheme to its financed units above the capital investment limits as mentioned above by taking NOC from PICUP provided it is in the interest of the concerned industry/Corporation/work.
2. Quantum of Loan :
The amount of Interest free loan granted under this scheme shall be minimum of 5% & maximum of 10% of the Annual sales of the unit but same shall not be more than the CST & UPVAT deposited by the unit in any financial year. However, this restriction shall not be applicable to the units whose date of first sale is between 11.3.2003 to 5.11.2003.
3. Pioneer unit :
Pioneer unit is such eligible Mega unit which is first unit set up in the district qualifying the eligibility criteria of the scheme. It is declared as Pioneer unit by the concerned D.M. of the district on the recommendation of the Committee consisting of D.M. as Chairman, GM, DIC of the concerned district as member secretary & Nominated officer of the Commercial Tax Deptt.
4. Availment period of Loan :
5. Repayment period of Interest Free loan :
Repayment period of Interest free loan shall be 07 years from the date of the disbursement and in case of Pioneer units it shall be 10 year.
6. SECURIY :
As per decision of the Board of the Corporation all fresh loans shall be granted as per security norms given below however for existing loans i.e. loans granted before 31.12.2008, security debt ratio of 1:1 shall be maintained :-
b) If Land or Land & Building is not available for creation of charge: -
7. Administrative Charges :
The unit shall have to deposit Administrative charges @ 2% of sanctioned amount each year before disbursement of loan.
The detailed rules of the scheme notified by State Govt. vide G.O. No. 3090 Dt. 6.11.2003 & subsequent modification issued vide G.O. No. 674 dt. 18.3.2005, vide G.O. No. 776 dt. 21.7.2005 and vide G.O. No. 2259 dt. 14.12.2006.
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