Section 4 in The Rajasthan State Interest Subsidy Scheme For Industries, 1998
4. Definitions.
(a)The expressions used in the Scheme shall have the same meaning as given in "Rajasthan Sales Tax/Central Sales Tax Exemption Scheme, 1998" and "Rajasthan Sales Tax/Central Sales Tax Deferment Scheme, 1998", unless defined otherwise in the Scheme.(b)"Commercial Bank" means any nationalised or scheduled Bank set up under the Negotiable Instruments Act, 1881.(c)"co-operative Bank" means any bank set up under the Rajasthan co-operative Societies Act, 1965.(d)"DIC" means District Industries Centre.(e)"Eligible Industrial units" means a new industrial units, or old industrial units going for expansion or diversification, or a sick industrial units which fulfils following conditions -(i)in which the investment in fixed assets, in plant and machinery, whether held on ownership terms or on lease or on hire purchase, does not exceed Rupees Sixty lacs;(ii)which is not declared as ineligible industry under Annexure A to the Scheme, provided that this restriction shall not apply to a sick industrial units;(iii)which has been sanctioned term loan by State/Central financial institution(s) and/or scheduled commercial Bank(s) including co-operative Bank(s) during the operative period of the Scheme; and(iv)which is making repayment of dues against term loan of institution(s) and Bank(s) in time.(v)[ hotel/motel units, in which at least 50% non - skilful local persons are appointed.] [Added vide Notification dated 26-7-2002 [31-7-2002].](f)"Plant and Machinery" means plant and machinery as defined by the Government of India from time to time :Provided that the value of plant and machinery shall be as per the appraisal of the financial institution(s). However for the purpose of the Scheme the following shall be excluded, namely -(i)cost of equipment such as tools, jigs, dies, moulds and spare parts for maintenance including cost of consumable stores;(ii)cost of installation of plant and machinery;(iii)cost of research and development equipment and pollution control equipment;(iv)cost of DG set(s) or transformer(s) installed by the unit;(v)cost involved in procurement or installation of cables wiring bus bars electrical control panels excluding those mounted on individual machines oil circuit breakers or miniature circuit breakers which are necessary for providing electric power to the plant and machinery or for providing safety;(vi)transportation charges and transit insurance charges for indigenous machinery transported from the place of manufacture to the site of the unit;(vii)charges paid for technical know-how for erection of plant and machinery;(viii)cost of storage tanks used for storage of raw material(s) and finished product(s) but not linked with the manufacturing process; and(ix)cost of fire fighting equipment(s).(g)"Prescribed Authority" means an Authority prescribed in Clause 6 of the Scheme.(h)"Repayment of dues in time" means repayment of term loan and interest thereon as per the schedule of repayment prepared by the financial institution(s) at the time of sanction of loan, as per the revised schedule of repayment if any :Provided that any eligible unit which gets any relief on concessions such as waiver of interest/penal interest/liquidated damages granted Subsequent to the original schedule of repayment shall not be entitled to get the benefit under the Scheme :Provided further that for an overdue amount not exceeding 5% of the quarterly instalment, for reasons of reconciliation, the repayment shall be deemed to have been made in time for the purpose of the Scheme.(i)"RFC" means Rajasthan Financial Corporation;(j)"RIICO" means Rajasthan State Industrial Development and Investment Corporation Ltd.;(k)'Term loan" means any loan or advance where the terms under which money is loaned or advance provide for repayment along with interest thereof during a period of not less than five years.
