Section 16(1) in The Sugar Development Fund Rules, 1983
(1)[A sugar undertaking shall ordinarily be eligible for a loan under this rule] [Inserted vide GSR 27(E) dated 12.1.96.]. -(a)if it is approved by a financial institution or a scheduled bank for financial assistance for the purpose of rehabilitation or modernization of plant and machinery of its sugar factory or any of its sugar factories; and(b)the rehabilitation or modernization project has been duly appraised by a financial institution or a scheduled bank [omitted] [The words or sponsored by the Technology Information, Forecasting and Assessment Council in respect of the Scheme Mission Mode Project on Sugar Production Technologies of the Department of Science and Technology shall normally be eligible for a loan under this rule omitted vide GSR 599 dated 30.07.2012.][Provided that a sugar undertaking that has availed of a loan in respect of a sugar factory under this rule shall not be eligible for any further loan under this rule during the period in which the previous loan under this rule or a loan under sub-rule (1) of rule 21 in respect of that factory, along with interest thereon, has not been fully repaid] [Substituted vide GSR 599 dated 30.07.2012.]Provided that Committee may, with the previous approval of the Central Government make any class or classes of sugar factories or sugar undertaking ineligible for such assistance.Provided further that where the Committee decides that an applicant is not eligible, reasons therefor shall be recorded in writing.
