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[Cites 0, Cited by 0] [Section 7(1)] [Section 7] [Entire Act]

State of Haryana - Subsection

Section 7(1)(j) in The Punjab State Aid to Industries Rules, 1936

(j)[ In case of loans exceeding five thousand rupees, but not exceeding fifty thousand rupees for the purchase of machinery for running [ - ] [Inserted by Haryana Notification No. G.S.R. 25/P.A. 5/35/Section 46 Amd.(1)/168, dated 26.3.1968.] industries in the Industrial Estate of Haryana, personal security of the applicant/applicants and his/their surety rendered to the satisfaction of the Director of Industries, Haryana, a mortgage on the machinery whether existing or to be purchased with the amount of loan or any portion thereof and the material within the charge and supervision of the District Industries Officer concerned at the cost and risk of applicant/applicants and an affidavit in Form 'T' from the surety who is solvent for double the amount of loan sanctioned to the applicant/applicants. The amount of loan shall be released to the borrower after the machinery is received for the installation by him.]