Section 9 in The Punjab State Aid to Industries Rules, 1936
9.
(1)The value of the assets, so far as they consist of money, shall be all cash with bankers or on hand and the value of cash in other countries shall be taken at the rate of exchange ruling on the day on which the valuation is made.(2)The value of the additional assets that will be created by the application of the loan granted by Government shall be money expended on the acquisition of immovable property and machinery of a permanent nature and on the liquidation encumbrances of the capital value of the industry.(3)The assets having been valued as above, all debts and liabilities of the business shall be deducted, other than accumulated profits and reserves and the balance shall represent the net value of the surplus of assets and shall be the value of the business for the purposes of the Act.
