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Motivation of Entrepreneurs and Financial Assistance for Rehabilitation of Sick Industries

Through this scheme, the cost of implementing suggestions given by the experts in the field of technology, marketing and finance engaged to advise sick units is reimbursed. 50% subsidy towards the cost of diagnostic study by technical institutions initiated through Financial Institutions/Banks/etc.

Ministry / Department
Industries and Commerce Department, Puducherry
Level
State
Benefit type
cash
Last verified: Recently

What is Motivation of Entrepreneurs and Financial Assistance for Rehabilitation of Sick Industries?

Through this scheme, the cost of implementing suggestions given by the experts in the field of technology, marketing and finance engaged to advise sick units is reimbursed. 50% subsidy towards the cost of diagnostic study by technical institutions initiated through Financial Institutions/Banks/etc.

Benefit
- Subsidy @ 50% on the cost of diagnostic study by technical institutions initiated through Financial Institutions/Banks/Government with a maximum of ₹50,000/-. - 50% of fees (maximum ₹50,000/- per unit) will be reimbursed on implementing suggestions given by the experts in the field of technology, marketing and finance engaged to advise sick units. - Interest subsidy @ 5% per annum limited to ₹3,00,000/- per year for 3 years on additional finance disbursed by Banks/Financial Institutions for Rehabilitation. *The interest subsidy will be paid through the financial institution. *The financial institution shall mean and include PIPDIC or any other Government Corporation, Scheduled Banks including Co-operative Banks.
Level
State — Puducherry
Ministry / Dept.
Industries and Commerce Department, Puducherry
Benefit type
cash
Key eligibility
1. The applicant should be MSME unit those who have obtained UAM/EM(Part-ll)/Permanent Registration. 2. The applicant should be a "Sick" Industrial Enterprise. "Sickness" is defined as follows at present and shall be revised as per RBI guidelines from time to time: - Continuous decline in gross outp
Last verified
Recently

Benefits

- Subsidy @ 50% on the cost of diagnostic study by technical institutions initiated through Financial Institutions/Banks/Government with a maximum of ₹50,000/-. - 50% of fees (maximum ₹50,000/- per unit) will be reimbursed on implementing suggestions given by the experts in the field of technology, marketing and finance engaged to advise sick units. - Interest subsidy @ 5% per annum limited to ₹3,00,000/- per year for 3 years on additional finance disbursed by Banks/Financial Institutions for Rehabilitation. *The interest subsidy will be paid through the financial institution. *The financial institution shall mean and include PIPDIC or any other Government Corporation, Scheduled Banks including Co-operative Banks.

Eligibility

1. The applicant should be MSME unit those who have obtained UAM/EM(Part-ll)/Permanent Registration. 2. The applicant should be a "Sick" Industrial Enterprise. "Sickness" is defined as follows at present and shall be revised as per RBI guidelines from time to time: - Continuous decline in gross outpArea: PuducherryBenefit: cash

Documents Required

    How to Apply

    1. Step 1: Offline application — step 1

      Step 1: The sick enterprise should take print from the prescribed form from the Directorate of Industries and Commerce, Puducherry.

    2. Step 2: Offline application — step 2

      Step 2: In the application form, fill in all the mandatory fields, and attach copies of all the mandatory documents.

    3. Step 3: Offline application — step 3

      Step 3: The enterprise should submit the duly filled and signed application form and the documents to the Director of Industries either in person or by post.

    4. Step 4: Offline application — step 4

      Step 4: Request a receipt or acknowledgement from the concerned authority at the Directorate.

    5. Step 5: Offline application — step 5

      *The State Level Committee will go into the merits of each case to decide whether the unit qualifies for the grant of financial assistance.

    Sources & References

    Ready to apply?

    Applications are accepted only on the official government portal.

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