Section 23 in The M.P. State Aid to Industries Act, 1958
23. Subsidies.
(1)No subsidy for the conduct of research shall exceed forty per cent of the cost thereof and no subsidy for any other purpose shall exceed fifty per cent of the cost thereof.(2)The condition of a grant of a subsidy for the purchase of machinery shall ordinarily be that an amount equal in value thereto, as may be determined at the time of making the grant, shall be repaid to the State Government at the close of such term of years as may be fixed by the State Government in this behalf, if within that term the industry be shown to the satisfaction of the State Government to be paying interest or a dividend upon the capital invested in such industry in excess of such rate as the State Government may determine.(3)The condition of a grant of a subsidy for the conduct of research or grant, on favourable terms, of land, raw material, fuel, water or any other property or right of the State Government or the grant on favourable terms, of the services of experts or Government officials may be that an amount not exceeding the value thereof, as may be determined, at the time of making the grant or concession, shall be repaid to the State Government at the close or such term of years as They be fixed by the State Government in this behalf, if within that time the industry be shown to the satisfaction of the State Government to be paying interest or a dividend upon the capital invested in such industry in excess of such rate as the State Government may determine.(4)Without prejudice to the provisions of sub-section (3), the condition of a grant of a subsidy for the conduct of a research may further be that the State Government shall have a share not exceeding twenty-live per cent in the patent rights arising out of such research.(5)State Aid granted to any industry shall be discontinued if the industry be shown to the satisfaction of the State Government to be paying interest or a dividend upon the capital invested in such industry in excess of such rate as the State Government may determine.
