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

State of Punjab - Subsection

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

(a)[ a mortgage on all the fixed assets of the industrial concern, including [ - ] [Substituted by Punjab Government notification No. 303-I & C- 54/18789/A, dated 3rd April, 1954.] the premises and machinery, whether existing or to be purchased with the land or any portion thereof, provided that the estimated value of such assets is in the opinion of the Director of Industries not less than 1½ times the amount of the loan or the unpaid balance of price of the machinery, together with the personal security of the applicant; or]