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[Cites 0, Cited by 0] [Section 15] [Entire Act]

State of Bihar - Subsection

Section 15(2) in The (Bihar State) Aid to Industries Act, 1956

(2)The condition of a grant of subsidy to industries other than small scale industries for the conduct of research or the purchase of machinery or of any payment under guarantee of a minimum return on the paid up capital of the grant on favourable terms of land, raw materials, firewood, water or other property of the State Government, or of the supply of electrical energy at concessional rates from a source which is the property of the State Government, shall ordinarily be-
(a)that an amount equal to the sum paid or to the money value of the grant or concession as fixed at the time when it was made 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 dividend upon the capital invested in such an industry in excess of such rate as the State Government may determine; and
(b)that such State aid shall be discontinued if the industry be shown to the satisfaction of the State Government to be earning profit in excess of such rates as the State Government may prescribe.