Section 24 in The M.P. State Aid to Industries Act, 1958
24. Disposal of profits when conditions of State Aid not fulfilled.
(1)Until the conditions on which the aid has been granted are fulfilled the profits of the industry in respect of which aid has been granted shall, if taken or distributed, be taken or distributed only after interest due on debentures and loans has been paid and a reasonable amount has been paid and a reasonable amount has been set aside for depreciation or obsolescence of plant and buildings and further reasonable amount has been carried to reserve fund to be utilised in such manner as the State Government may approve.(2)No recipient of State Aid shall pay any dividend or distribute or take any profit in excess of such percentage rate upon the amount of the capital of the industry as the State Government may, from time to lime, fix, until the conditions on which State Aid has been granted are fulfilled :Provided that the State Government may relax the provisions of this section in the case of any industry' aided by the grant, on favourable terms, of land, raw material, fuel, water or any other property or right of the State Government or the grant, free of charge or on favourable term of the services of experts or persons in the services of the State Government or by the payment of a subsidy for the conduct of research.
