Section 13 in The Energy Conservation (Partial Risk Guarantee Fund for Energy Efficiency) Rules, 2016
13. Termination of liability in certain cases.
- The liability of Partial Risk Guarantee Fund for Energy Efficiency may be terminated-(a)if a project becomes ineligible for being granted any guarantee coverage under these rules, by any reason, the liability of the Partial Risk Guarantee Fund for Energy Efficiency in respect of the guarantee coverage granted to participating financial institution for the respective project under these rules shall lapse;(b)if the guarantee claim submitted by the participating financial institution or borrower is found to be fraudulent or if there are serious deficiencies, such as inadequate appraisal or renewal or follow-up or conduct of the project or multiple lodgement of claim or suppression of any material information for the settlement of claims or any of the deficiency.
